NEW YORK STOCK EXCHANGE DEVELOPS TOKENIZED SECURITIES PLATFORM

Summary from the TLDR Crypto newsletter

The New York Stock Exchange is developing a platform for trading and onchain settlement of tokenized securities that will enable 24/7 operations, instant settlement, fractional share trading, and stablecoin-based funding. Subject to regulatory approvals, the platform will combine NYSE's Pillar matching engine with blockchain-based post-trade systems that support multiple chains, and will create a new NYSE venue for tokenized shares fungible with traditional securities as well as natively-issued digital securities. Tokenized shareholders will receive traditional dividends and governance rights. The initiative is part of parent company ICE's broader digital strategy to prepare its clearing infrastructure for 24/7 trading.