The New York Stock Exchange is building potential distribution channels for a planned 24-hour market in tokenized securities. On September 23, NYSE Group and digital-asset platform Blockchain.com signed a memorandum of understanding to explore giving Blockchain.com users access to the NYSE’s proposed market for tokenized U.S. stocks and exchange-traded funds. Any live trading arrangement remains subject to regulatory approval.
The agreement also covers two-way market-data links. ICE Data Services plans to make Blockchain.com’s crypto-asset pricing and analytics available to institutional data customers, while Blockchain.com intends to integrate data from Intercontinental Exchange and the NYSE into its app. For the exchange, the arrangement offers a way to reach crypto-native users before a digital trading venue is formally launched. For Blockchain.com, it would broaden the platform beyond digital assets to include information from traditional equity markets.
NYSE targets round-the-clock tokenized trading
The NYSE announced plans for a digital trading platform in January. The proposed venue would support 24-hour trading in tokenized U.S. stocks and ETFs, fractional orders, near-instant on-chain settlement and stablecoin funding arrangements. It could host tokenized versions of conventional securities as well as assets issued directly in digital form, while preserving shareholder rights such as dividends and voting.
Tokenized securities represent traditional financial assets on a blockchain network, changing how they are traded, settled and held. For investors, continuous access, lower barriers to fractional ownership and faster settlement could alter how stocks and ETFs are accessed. For exchanges and brokers, competition would extend beyond matching orders to connecting with users already accustomed to blockchain wallets and digital-asset platforms.
Blockchain.com has more than 44 million verified accounts
Blockchain.com says it has more than 44 million verified accounts. Through a partnership with Ondo Finance, it already offers some users in Europe access to tokenized U.S. stocks and ETFs. Eligible customers can access more than 200 tokenized stocks and ETFs through its DeFi wallet, with similar products previously launched in markets including Nigeria and South America.
If the NYSE arrangement is completed, Blockchain.com would connect its existing digital-asset distribution model more closely to traditional exchange infrastructure. The NYSE’s proposed market is also expected to support tokenized securities that are interchangeable with traditionally issued securities. That would position the project as more than a crypto-asset venue and place on-chain trading within an exchange framework.
The companies have not yet said when Blockchain.com users could gain access to the NYSE platform, which securities would be available or which jurisdictions would qualify. Those details will depend on regulatory approvals and further platform rules.
OKX and Securitize are part of the NYSE plan
Blockchain.com is not the only potential route the NYSE is developing for digital-asset users. In March, NYSE parent Intercontinental Exchange reached a strategic agreement with OKX to explore providing OKX users with access to the NYSE’s tokenized stock market. OKX says it has more than 120 million accounts globally, giving the exchange another large crypto-user base to potentially reach.
On issuance and settlement infrastructure, the NYSE has brought Securitize into the plan. Securitize has been designated as the first eligible digital transfer agent and can mint blockchain-native securities for issuers using the platform. Under the current structure, Securitize would focus on tokenized issuance and on-chain settlement, while OKX and Blockchain.com could serve as customer-facing distribution channels.
The structure advances three parts of the project at the same time: Securitize would provide issuance and registration infrastructure; OKX and Blockchain.com would reach crypto investors; and ICE’s data network would connect the system with traditional financial institutions. The eventual investor base will depend on when the venue launches and whether tokenized securities receive approval across different markets.
Citi sees tokenized assets reaching $8.2 trillion
Financial institutions are assessing the potential scale of blockchain-based assets. Citi Institute’s base case puts the value of tokenized financial assets at about $5.5 trillion by 2030, up from roughly $17 billion currently. Listed equities and U.S. Treasuries are expected to account for a substantial share of that total. In a more optimistic scenario, the market could reach $8.2 trillion.
Citi also estimates that if 10% of U.S. retail investors adopt on-chain products by the end of the decade, potential demand for tokenized listed equities alone could reach about $2.6 trillion. Around-the-clock access, fractional ownership and faster settlement are among the product features expected to appeal to digitally native investors.
Turning market-size projections into actual trading will still require decisions on securities issuance, investor rights, custody, cross-border distribution and regulatory responsibilities. For Blockchain.com users, the immediate uncertainties are which securities will be tradable, where the service will be available and when access will begin. For the NYSE, regulatory approval after launch and the ability of its distribution partners to attract users will determine whether the on-chain market plan develops into measurable trading volume.