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Binance Founder CZ Praises NYSE’s New Tokenization Platform

Changpeng Zhao welcomed the NYSE’s planned tokenized securities and on-chain settlement initiative, citing its potential to advance crypto integration into traditional markets.

Summary

Binance founder Changpeng Zhao (CZ) praised the New York Stock Exchange’s announcement of a tokenized securities trading and on-chain settlement platform, calling it positive for cryptocurrency and exchange ecosystems. Operated under ICE Group, the platform will offer 24/7 trading, instant settlement, USD-denominated orders, and stablecoin transfers. The NYSE plans to seek regulatory approval for the initiative.

Terms & Concepts
  • Tokenization: The process of converting real-world assets into digital tokens on a blockchain, enabling fractional ownership and easier transfer.
  • On-chain Settlement: The process of finalizing transactions directly on a blockchain network, ensuring transparent and immutable record-keeping.
  • Stablecoin: A type of cryptocurrency pegged to a stable asset, such as the US dollar, to minimize price volatility.