The New York Stock Exchange (NYSE) confirmed it is building a new trading venue that supports 24/7 trading and on-chain settlement for tokenized US-listed stocks and ETFs.
The platform will seek regulatory approval before launch and will operate alongside existing market structure. The design combines NYSE’s Pillar matching engine with blockchain-based post-trade systems, as per the announcement.
Also, settlement and custody can run across multiple blockchains, with stablecoin-based funding and instant settlement replacing the current T+1 cycle. Orders will be dollar-denominated, and fractional share trading will be supported.
NYSE that tokenized shares will remain fully fungible with traditional securities. Holders will retain dividend rights and governance participation, keeping shareholder economics unchanged.
NYSE is working with major banks to support tokenized deposits across Intercontinental Exchange (ICE) clearinghouses. This allows clearing members to move capital outside standard banking hours and manage margin and funding needs across global time zones.
The structure targets a direct weakness in the current market infrastructure. Traditional equity markets shut down daily, while funding and settlement delays increase risk during volatile periods. The proposed venue removes both constraints.
According to , a fintech expert, NYSE is not modifying its existing exchange but is building a parallel venue designed for on-chain issuance, trading, and settlement from the ground up. He noted that extended equity trading hours could drive higher demand for crypto liquidity, as markets converge around always-on capital flows.
On the other hand, former Binance CEO and co-founder Changpeng Zhao that this is a bullish move for crypto exchanges and the broader digital asset space as well. CEO Richard Teng that traditional finance is no longer observing blockchain adoption from the sidelines but actively deploying it at scale.
Unlike firms tokenizing assets inside existing market plumbing, NYSE is building both the asset and the venue natively on-chain. This places it in direct competition with digital-first trading platforms focused on tokenized securities.
The result is a dual-market model. One exchange continues to operate on fixed hours with delayed settlement. The other runs continuously, settles instantly, and moves capital using stablecoins.
According to , NYSE’s move is extremely bullish for Bitcoin (BTC), the world’s largest digital asset. He said that with the launch expected in Q3, increased trading time for equities will drive demand for BTC higher.
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