NYSE president says exchange is building on-chain settlement platform for tokenized securities
Martin said NYSE joined DTC's July pilot, while Securitize was named the first eligible digital transfer agent and minting partner for a separate venue targeting round-the-clock trading and on-chain settlement.
The New York Stock Exchange is building on-chain settlement infrastructure for tokenized securities and moving from pilot testing toward a broader digital-market strategy that would extend stock trading beyond current market hours and settlement cycles. NYSE President Lynn Martin said on Aug. 10 that the exchange joined The Depository Trust Company's July tokenization pilot, while parent Intercontinental Exchange's January plan for a dedicated digital venue still targets 24/7 trading, immediate settlement, fractional shares, dollar-denominated orders and stablecoin funding, subject to regulatory approval. The venue is intended to support both tokenized versions of traditionally issued securities and natively tokenized assets while preserving dividend and governance rights. Separately, an April SEC filing created a path for eligible tokenized shares to trade alongside conventional shares under the same ticker and CUSIP during the DTC pilot, though those transactions would still settle on a T+1 basis. NYSE has also named Securitize as the first eligible digital transfer agent and a partner for blockchain-native securities minting on the proposed platform. DTCC's planned October Tokenization Service launch is the next major milestone, while broader adoption still depends on regulatory and operational considerations.
- On-chain settlement: A process in which payment and ownership transfer are finalized directly on a blockchain-based ledger.
- Digital transfer agent: A transfer agent that maintains records and helps manage issuance and transfers for securities in digital token form.
- T+1 basis: A settlement cycle in which a trade is completed one business day after execution.