The New York Stock Exchange is working on a digital platform that would enable investors to trade digital tokens around the clock.<\/p>\n
The platform would be separate from the NYSE itself, which operates only on weekdays, and allow for instant settlement of transactions, orders sized in dollar amounts and stablecoin-based funding, NYSE owner Intercontinental Exchange said Monday.<\/p>\n
Tokenization uses blockchain technology that powers cryptocurrencies to create digital tokens as stand-ins for things like stocks, bonds, real estate or even fractional ownership of a piece of art that can be traded like crypto by virtually anyone, anywhere at any time. Stablecoins, which are a type of cryptocurrency typically bought and sold for $1, have helped fuel the appetite to tokenize other financial assets.<\/p>\n
Assuming it meets regulatory scrutiny, the platform would power a new NYSE venue that would support trading of tokenized versions of company shares, the exchange said.<\/p>\n
The development of the platform is part of Intercontinental Exchange\u2019s bid to broaden its transaction clearing capabilities to handle 24\/7 trading of tokenized securities and, potentially, the integration of tokenized collateral.<\/p>\n
Intercontinental Exchange said it\u2019s working with Citigroup, Bank of New York Mellon and other lenders to support tokenized deposits across the company\u2019s six clearinghouses around the globe.<\/p>\n","protected":false},"excerpt":{"rendered":"The New York Stock Exchange is working on a digital platform that would enable investors to trade digital…\n","protected":false},"author":2,"featured_media":105299,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[47805,9,11,10,14883],"class_list":{"0":"post-105367","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-digital-tokens","9":"tag-new-york","10":"tag-new-york-headlines","11":"tag-new-york-news","12":"tag-nyse"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/105367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=105367"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/105367\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/105299"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=105367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=105367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=105367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}