Bullish, Equiniti, Alpaca, Apex Fintech Solutions and Drivewealth formed the Issuer Sponsored Token Coalition on Sept. 24 to connect tokenized stocks with official shareholder registers. The effort aims to ensure that onchain ownership carries rights such as voting, dividends, stock splits and corporate actions, rather than merely tracking a stock price. Equiniti provides a link to nearly 3,000 issuers and more than 20 million shareholders, while Alpaca, Apex and Drivewealth contribute brokerage, clearing and market-access infrastructure. The group will discuss technical standards, settlement, custody and interoperability with public-company issuers at the New York Stock Exchange on Oct. 27. The initiative follows the SEC's (U.S. securities regulator) five-year Innovation Exemption, opened Sept. 17, for certain Tokenized Securities Venues, which requires qualifying tokens to provide the same rights and privileges as traditional shares. No new tokenized stock was launched with the coalition.