Blockchain.com and NYSE Plan to Bring Tokenized Stocks to 44 Million Crypto Accounts

Blockchain.com plans to offer its users tokenized versions of U.S. exchange-listed stocks and ETFs through the New York Stock Exchange, under a memorandum of understanding the crypto company and NYSE Group announced on Wednesday.

The shares would trade on the NYSE’s previously announced digital alternative trading system, and the companies said access for Blockchain.com customers is subject to any required regulatory approvals.

The companies said the tie-up is a way to put the NYSE in front of Blockchain.com’s crypto-native user base, which the company puts at more than 44 million confirmed accounts across over 70 jurisdictions.

“People shouldn’t be limited in owning stocks based on where they happen to live or the brokerage and information they may or may not have access to,” said Peter Smith, Blockchain.com’s executive chairman, CEO and co-founder, in a statement.

Under the MOU, ICE Data Services, an NYSE affiliate, would make Blockchain.com’s crypto data and analytics available to its subscribers. Blockchain.com’s app, for its part, would display real-time stock information from some of ICE’s and NYSE’s exchange feeds.

“Blockchain.com’s international footprint and digital asset expertise make it a natural complement to our tokenized securities platform upon launch,” said Lynn Martin, president of NYSE Group, in a statement.

The NYSE unveiled the tokenized securities platform in January, pairing its Pillar matching engine with blockchain-based settlement to support 24/7 trading, orders sized in dollars and stablecoin funding. In March, it signed a separate MOU with Securitize to help build the venue.

The NYSE’s parent, Intercontinental Exchange, has also worked with crypto exchanges directly. In June, ICE and OKX agreed to set up a joint venture that would develop tokenized securities and digital asset infrastructure.

Wednesday’s announcement came six days after the SEC granted a five-year exemption letting permissioned onchain venues built on automated market makers trade tokenized shares of listed companies without registering as exchanges.

Related Listen: How Tokenized Stocks Could Undercut Interactive Brokers’ 77% Profit Margin

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