NYSE handles Blockchain.com reaching out to crypto investors with token-type bonds

Blockchain.com signed a Memorandum of Understanding (MOU) with the NYSE Group to offer U.S. stocks and ETF in tokenized form via its 24-hour digital trading platform at the NYSEC scheduled to launch

The said agreement also covers the sharing of data whereby ICE (Intercontinental Exchange) will disclose Blockchain.com 's crypto information and Blockchain.com will add data feeds from NYSE to its app.

However, the NYSE's platform has not yet been launched for actual use. The plan is subject to approval from relevant regulatory agencies and both companies have not disclosed a launch schedule or terms of the agreement.

Blockchain.com wants to bring Wall Street into their app

The company has signed a memorandum of understanding with NYSE Group to allow users access to U.S. stocks and ETF in token form via the planned digital trading platform at NYSE, as both companies announced last Wednesday.

What's the matter?

Shares are tokens on a blockchain that represent rights in the shares of registered companies. Proponents of this idea point out that it allows for holding shares in fractional ownership, buying and selling outside market time, and faster settlement

The NYSE under Intercontinental Exchange announced in January that it is building a platform as an Alternative Trading System (ATS) digital, which ATS is a regulated marketplace that operates outside of the traditional securities markets. This platform ensures 24-hour trading and settlement based on blockchains instantly

Benefit to both parties

The agreement opens the way for NYSE to reach crypto investors directly by having Blockchain.com verified accounts and already 44 million accounts in over 70 jurisdictions.

"People should not be restricted to owning shares from where they live or from brokers and information that they may have access to", said Peter Smith, CEO and co-founder of Blockchain.com

Section of the Code in the United States

The move coincides with a policy change in Washington last week when SEC launched an "innovation exemption" measure that allows properly qualified platforms to be able to buy and sell U.S. stocks in the form of tokens on public blockchains without registering as securities exchanges, which came just days after drafting the Clarity Act, which would legalize such activity and other crypto activities, into law in the Senate.

It 's a hot competition .

Coinbase , which filed for an IPO in the United States secretly in May, is facing increasing competition. In August, other crypto platforms are also racing to launch token services for users both inside and outside of the U.S.

Both companies have yet to disclose a release date or financial terms of the deal.