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Wall Street's Crypto Ties Deepen as NYSE Taps Securitize for Tokenized Securities
The New York Stock Exchange announced on Tuesday a collaboration with Securitize, the BlackRock-backed tokenization specialist, focusing on advancing Wall Street’s transition to digital asset-based trading infrastructure.
This arrangement involves the development of standards for tokens representing real-world assets like stocks, bonds, and exchange-traded funds. Securitize is set to serve as the first digital transfer agent for NYSE’s Digital Trading Platform. This role will allow Securitize to create "blockchain-native securities" in a platform meant for 24/7 trading.
This move indicates traditional financial giants' growing interest in blockchain-based trading infrastructure. Last year, SEC Chair Paul Atkins revealed Project Crypto, an initiative to develop regulations for blockchain-based financial markets.
Recently, Nasdaq received approval for a pilot program involving tokenized securities, keeping trading and settlement within traditional market structures.
Securitize CEO Carlos Domingo highlighted the importance of native tokenization, which would ensure that tokens representing stocks possess equivalent rights to their traditional counterparts.
Nasdaq Wins SEC Approval to Trade Tokenized Securities in Pilot Program
Domingo expressed support for NYSE’s efforts to design foundational transfer agent infrastructure, emphasizing the need for tokenization that aligns with real market structures and maintains operational integrity.
Last month, World Liberty Financial, a DeFi project backed by U.S. President Donald Trump, collaborated with Securitize for issuing tokens linked to a luxury Maldivian resort project.
In October, a firm, supported by the world's largest asset manager, revealed plans to list on the Nasdaq with a valuation of $1.25 billion. Prior to the president's election on a pro-crypto platform, BlackRock spearheaded a $47 million strategic funding round for Securitize in 2024.
This article has been published in Decrypt via Yahoo News.
Wall Street's Crypto Ties Deepen as NYSE Taps Securitize for Tokenized Securities
Securitize was selected by the New York Stock Exchange as a "digital transfer agent" for a platform dedicated to tokenized securities.
finance.yahoo.com
