NYSE’s Tokenized Stocks Create More Questions for Crypto’s Relevance
On Monday, the New York Stock Exchange (NYSE) announced the development of its tokenized securities platform for trading U.S. stocks via blockchain technology. The new platform is said to enable trading on a 24/7 basis and immediate settlement of assets, among other features, and it will operate as a completely separate addition to the traditional NYSE.
The exchange claims it is also currently seeking regulatory approval for the new tokenized trading initiative. Notably, regulatory clarity around tokenized stock trading is a key component of the CLARITY Act, which is currently under discussion in Congress and recently experienced a setback in the form of crypto exchange giant Coinbase’s removal of support.
Despite…
