Nasdaq and owner of NYSE turn to crypto exchanges to bring the $126T equity market onchain
Nasdaq and ICE, owner of NYSE, are partnering with crypto exchanges to tokenize and bring the $126 trillion equity market onto blockchain technology.Summary
Major Wall Street exchange operators, Nasdaq and Intercontinental Exchange (ICE, parent of NYSE), are collaborating with digital asset exchanges to integrate the $126 trillion equity market onto blockchains through tokenization. Nasdaq is working with Kraken's parent company, Payward, to issue blockchain-based shares potentially by early 2027, while ICE made a strategic investment in OKX to launch tokenized stocks and crypto futures, leveraging OKX's large user base. This move signals a shift towards an "everything exchange" where all assets trade on unified, always-on blockchain infrastructure, a transition accelerated by recent SEC clarification on the legal standing of tokenized securities. The relationship between traditional exchanges and crypto platforms is described as a "frenemy" dynamic, as both sides need each other for distribution, credibility, and access to different trader populations. Tokenizing stocks promises continuous price discovery, improved liquidity, and more efficient lending via DeFi, potentially unlocking massive growth in the tokenized asset market.
(Source：CoinDesk)