NYSE building onchain settlement for tokenized securities

The New York Stock Exchange is developing an onchain settlement platform to settle tokenized stocks and exchange-traded funds, NYSE President Lynn Martin confirmed. The exchange took part in the Depository Trust & Clearing Corporation’s tokenization pilot in July.

Martin said, “We are developing an onchain settlement platform for tokenized securities,” and added the exchange is exploring how blockchain technology can connect traditional finance with decentralized finance services.

The work builds on a plan the NYSE outlined in January for 24/7 onchain trading and settlement of U.S. equities and ETFs. That plan describes support for fractional-share trading, near-instant settlement and the option to fund transactions with stablecoins.

The January blueprint also foresees tokenized deposits backed by banks, including Bank of New York Mellon and Citi, operating across clearinghouses run by Intercontinental Exchange, the NYSE’s parent company. Separately, the exchange appointed Securitize as its digital transfer agent to convert traditional shares and ETFs into blockchain-based tokens while preserving shareholder records and rights.

The DTCC has scheduled a full October launch of its tokenization platform. The rollout will cover Russell 1000 stocks, major exchange-traded funds and selected U.S. Treasury instruments. The pilot moved into live-trading preparations after input from more than 50 firms, including asset managers and banks such as BlackRock, Goldman Sachs and JPMorgan, along with crypto firms including Anchorage and Circle.

Other market participants are building related infrastructure. Intercontinental Exchange invested in crypto exchange OKX and has plans to let OKX users trade tokenized stocks and derivatives tied to NYSE-listed assets later in 2026. Crypto exchange Bullish announced an agreement to acquire transfer agent Equiniti to link digital-asset services with traditional shareholder record-keeping. Securitize completed a public listing and now trades on the NYSE under the ticker SECZ.

Regulatory steps have followed industry work. The U.S. Securities and Exchange Commission approved NYSE rules for trading tokenized equities in April, and regulators are reported to be preparing a broader exemption framework for tokenized U.S. stocks to provide clearer legal footing for issuers and exchanges.

NYSE officials said they will continue testing and developing technology and market infrastructure with the DTCC and other market participants. The next phases include operational testing, integration with existing clearing and custody systems, and coordination with banks and transfer agents to support tokenized deposits and shareholder records.