NYSE President Lynn Martin says the exchange is building a platform for onchain settlement of tokenized securities, joining Wall Street’s clearinghouse in a push to move stock trading onto blockchain rails.
Key Takeaways
NYSE President Lynn Martin confirmed onchain settlement plans building on DTCC’s July pilot.NYSE participated in DTCC’s tokenization pilot in July, ahead of an October full launch.The move builds on NYSE’s January plan for 24/7 tokenized trading of U.S. equities and ETFs.In January, the exchange outlined a platform for 24/7 onchain trading and settlement of U.S. equities and exchange-traded funds (ETFs), designed to support fractional shares, instant settlement and stablecoin-based funding. That plan includes BNY and Citi backing tokenized deposits across clearinghouses run by Intercontinental Exchange (ICE), NYSE’s parent company.
DTCC’s Pilot Sets the PaceThe pilot has already moved past the planning stage with DTCC reportedly moving tokenized stocks, ETFs and Treasurys into live trading soon, a milestone the clearinghouse described as a major step for Wall Street’s blockchain infrastructure. More than 50 firms have shaped the effort with their input, including Blackrock, Goldman Sachs, JPMorgan, and crypto-native firms like Anchorage and Circle.
If the NYSE and DTCC succeed in moving mainstream securities settlement onchain, it would mark one of the clearest signs yet that blockchain infrastructure is migrating from crypto-native platforms into the plumbing of traditional finance.
