NYSE develops 24/7 blockchain platform for tokenized stocks, ETFs
The New York Stock Exchange is developing a platform to trade tokenized stocks and exchange-traded funds (ETFs), aiming to enable 24/7 trading with near-instant settlement using blockchain-based systems. The initiative, announced Monday by the NYSE and its parent Intercontinental Exchange (ICE), remains subject to regulatory approval.
According to the announcement, the platform would pair the NYSE’s Pillar matching engine with blockchain-based post-trade infrastructure and support multi-chain custody and settlement. If approved, it is expected to support a new NYSE venue for tokenized securities, including digitally issued stocks and ETFs.
The proposal contemplates real-time funding and settlement using stablecoins, a shift from the one-day settlement cycle currently used in U.S. equity markets. Tokenized stocks represent shares recorded on a blockchain ledger and are designed to offer features such as 24/7 market access and fractional ownership.
The NYSE has also pursued extended trading hours to meet global demand for U.S. equities. In October 2024, it disclosed plans to file with the U.S. Securities and Exchange Commission (SEC) to expand trading to 22 hours on weekdays. In March 2025, Nasdaq also outlined plans to introduce 24-hour weekday trading.
NYSE outlines fully on-chain goals for trading and settlement
The tokenized securities initiative forms part of ICE’s broader digital strategy, which includes building clearing capabilities for 24/7 operations and exploring the potential integration of tokenized collateral.
ICE is collaborating with banks, including BNY and Citibank, to enable tokenized deposits across its clearinghouses, helping members move and manage funds outside traditional banking hours.
“For more than two centuries, the NYSE has transformed the way markets operate,” said Lynn Martin, president of NYSE Group. “We are guiding the industry toward fully on-chain solutions, anchored by strong investor protections and robust regulatory standards that allow us to combine trust with advanced technology.”
ICE operates six clearinghouses worldwide, including the largest energy clearinghouse and a major credit default swap clearinghouse.
Michael Blaugrund, ICE’s vice president of strategic initiatives, described support for tokenized securities as a pivotal step toward operating on-chain market infrastructure for trading, settlement, custody and capital formation in the evolving global financial landscape.
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