The New York Stock Exchange (NYSE) is focused on integrating blockchain technology into existing market infrastructure rather than replacing it, according to chief product officer Jon Herrick.<\/p>\n
The exchange is \u201cstriving for interoperability\u201d and \u201cbuilding on top of what exists,\u201d as it explores how tokenized assets could function within current systems, Herrick said.<\/p>\n
That approach reflects a broader stance on market evolution. \u201cYou have to be mindful of the inherent good things of the market that has developed up to now \u2026 it\u2019s this balance of both things,\u201d he said on stage at the Digital Asset Summit in New York on Thursday, referring to the need to preserve elements like regulation, clearing systems and investor protections.<\/p>\n
Rather than framing blockchain as a replacement for traditional finance, Herrick described a model where both systems merge. \u201cIt really isn\u2019t about one side being more right than the other \u2026 [they] should, I think, in time, come together.\u201d <\/p>\n
His comments come as exchanges, asset managers and banks test tokenization, which allows assets like stocks and funds to be represented on blockchain systems. Advocates argue the model could enable faster settlement, round-the-clock trading and broader global access to markets.<\/p>\n
The NYSE is exploring some of those uses, including real-time or near real-time settlement and extended trading hours. The Intercontinental Exchange (ICE), NYSE\u2019s parent, earlier this month made a strategic investment in crypto exchange OKX. ICE will license OKX\u2019s spot crypto prices for crypto futures products, while OKX will offer ICE futures and tokenized equities to its customers in the U.S.<\/p>\n
Still, Herrick cautioned that existing systems offer efficiencies that may not be easily replaced. Centralized clearing, for example, helps reduce risk by netting transactions across market participants. <\/p>\n
Nevertheless, over time, the distinction between traditional and tokenized assets may fade. \u201cMaybe 10 years from now, whether [a] security is tokenized or not shouldn\u2019t matter,\u201d he said.<\/p>\n
For now, the exchange\u2019s strategy suggests a slower, more incremental path forward, introducing blockchain technology gradually into the existing financial system rather than reshaping it overnight.<\/p>\n","protected":false},"excerpt":{"rendered":"The New York Stock Exchange (NYSE) is focused on integrating blockchain technology into existing market infrastructure rather than…\n","protected":false},"author":2,"featured_media":546814,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4,450,451,3,452,453],"class_list":["post-546813","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking-news","tag-breaking-news","tag-breakingnews","tag-headlines","tag-news","tag-top-stories","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/546813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=546813"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/546813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/546814"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=546813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=546813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=546813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}