The world’s largest stock exchanges, including Nasdaq and the New York Stock Exchange (NYSE), are actively exploring ways to bring the $126 trillion equity market onto blockchain technology.
They are partnering with crypto exchanges like Kraken and OKX to develop frameworks for issuing blockchain-based versions of publicly listed company shares, aiming to preserve existing ownership rights and governance structures.
Nasdaq is collaborating with Kraken’s parent company Payward to develop a framework for issuing blockchain-based shares, potentially launching in the first half of 2027.
Intercontinental Exchange (ICE), the owner of the NYSE, has made a $25 billion strategic investment in crypto exchange OKX to facilitate the launch of new tokenized stocks and crypto futures.
These developments indicate that major exchanges are actively participating in the evolution towards a blockchain-based ‘everything exchange’ where all assets can be traded and settled on a unified platform.
The development of tokenized stocks on blockchain platforms is expected to continue, with the potential for further partnerships and investments between traditional exchanges and crypto-native platforms.
Regulatory clarity from the SEC will be crucial in shaping the growth and adoption of this new asset class.
The entry of giants like Nasdaq and NYSE into the world of tokenized stocks signals a significant shift in the finance industry, as traditional exchanges recognize the potential of blockchain technology to create a more efficient, liquid, and accessible equity market.
These developments point towards a future where markets function differently.
For decades, stocks, bonds, and funds have operated on separate systems with limited trading hours.
Blockchain technology promises a unified, always-on marketplace capable of settling all financial assets in tokenized form.
Scalia believes this signals a realization that all assets will eventually settle on blockchain rails.
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