NYSE and Blockchain.com Partner on 24/7 Tokenized U.S.…

The New York Stock Exchange and Blockchain.com have signed a memorandum of understanding that could eventually let Blockchain.com users trade tokenized versions of U.S.-listed stocks and exchange-traded funds through NYSE’s planned digital trading platform. The service is not live and remains subject to the launch of NYSE’s digital alternative trading system and required regulatory approvals.

If those conditions are met, Blockchain.com’s international users could gain access to U.S. equities in tokenized form outside conventional exchange hours. NYSE first detailed its 24/7 platform for tokenized stocks and ETFs in January. The planned venue is designed to combine exchange matching technology with blockchain-based settlement, fractional shares and stablecoin funding, while supporting tokenized versions of existing securities and shares issued directly in digital form. Token holders would retain traditional shareholder rights, including dividends and voting rights, rather than receiving only synthetic price exposure. Blockchain.com executive chairman, CEO and co-founder Peter Smith said the connection to the NYSE digital ATS would allow the company to extend digital asset investment opportunities to tens of millions of users around the world.

Data distribution and existing business

The memorandum also covers data distribution in both directions. ICE Data Services, part of NYSE parent Intercontinental Exchange, plans to distribute Blockchain.com’s crypto market data and analytics to institutional subscribers. Blockchain.com intends to integrate selected ICE and NYSE exchange feeds into its application, giving more than 44 million confirmed accounts access to real-time stock information. Some of that information is also expected to become available through June, Blockchain.com’s crypto-focused AI assistant. The companies did not disclose financial terms, a launch date or the initial list of stocks and ETFs.

Blockchain.com is not starting from scratch. It already provides tokenized U.S. stocks and ETFs to eligible customers outside the U.S. through Ondo Finance. The service expanded into 30 European Economic Area countries after initially reaching users in Africa and South America. Ondo recently introduced in-kind creation and redemption for tokenized stocks and ETFs, allowing eligible institutions to move directly between conventional securities and their onchain equivalents.

The regulatory backdrop has also become more accommodating. The Securities and Exchange Commission introduced a five-year Innovation Exemption in September that allows certain tokenized U.S. stocks to trade through permissioned onchain venues under defined conditions. Eligible tokens must provide the same rights and privileges as the corresponding traditional shares, and products that merely offer synthetic price exposure are excluded. NYSE has evaluated blockchain infrastructure for the project, including testing Avalanche for tokenized securities, though no final blockchain choice has been announced.

The partnership remains conditional, but it links a major crypto distribution platform with one of the world’s largest stock exchanges. The larger test will be whether investors want tokenized shares primarily for around-the-clock trading and faster settlement, or whether those products become a substantial alternative route into U.S. equity markets.