- New York Stock Exchange is developing a tokenized securities platform to enable 24/7 trading, fractional and dollar-sized orders, and near-instant settlement.
- The platform will combine the exchange’s Pillar matching engine with blockchain-based post-trade infrastructure that can support multiple settlement and custody chains.
- Intercontinental Exchange is working with banks, including Bank of New York Mellon Corporation and Citi, to enable tokenized deposits for funding, margin and liquidity outside normal banking hours.
- ChainLink was not ruled out as an infrastructure provider, and a crypto analyst stressed that large tools are often adopted slowly.
- The move follows the U.S. shift to T+1 settlement and signals growing institutional interest in on-chain trading, subject to regulatory approvals.
The New York Stock Exchange announced a tokenized securities platform that would allow around-the-clock trading of stocks and ETFs, fractional and dollar-sized orders, and near-instant settlements by converting capital into tokens, according to the exchange’s release announced. The system will pair the exchange’s Pillar matching engine with blockchain-based post-trade infrastructure that can support multiple settlement and custody chains.
Tokenized shares would be convertible into traditionally issued securities and convey the same economic and governance rights, including dividends and shareholder voting. Distribution would follow existing market-structure rules and access would be provided to qualified broker-dealers.
Intercontinental Exchange said it is working with banks, including Bank of New York Mellon Corporation and Citi, to support tokenized deposits across its clearinghouses to enable funding, margin and liquidity management outside traditional banking hours.
Crypto analyst Quinten François wrote in a post on X that Chainlink is not excluded from the launch and that large infrastructure tools tend to see gradual adoption. He added that many investors focus on short-term price moves and overlook long-term technological progress, and wrote: “Some people care about the tech, and get excited about projects like Chainlink who are changing the financial world how we know it. Yes I’m invested in their token too, but it’s not because it disappoints me that I’m not excited anymore about what they are actually building.”
Chainlink traded at $12.52, down about 1.7% in the last 24 hours, while retail sentiment on Stocktwits shifted from bullish to neutral. Fintech executive Simon Taylor commented on X that the announcement highlights the emergence of parallel systems: traditional market hours and settlement rails alongside a new on-chain, 24/7 infrastructure, a trend that follows the U.S. move to T+1 settlement.
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