#MarketInfrastructure

33 articles tagged #MarketInfrastructure — curated RWA tokenization coverage.

#TokenizedStocks #Nasdaq #Tokenization #TokenizedEquities #DTCC #Blockchain #RWA #DigitalAssets #InstitutionalFinance #Kraken

Infrastructure

Brazil's B3 Readies Tokenized Stock Trading Platform for Early 2027

Brazil’s primary stock exchange, B3, is developing a tokenized securities platform scheduled for launch in the first half of 2027. The initiative aims to create a system where tokenized shares are fully fungible with traditional stocks, sharing the same liquidity pool and order book. While the infrastructure is designed to integrate with existing market structures, current regulatory constraints require transactions to settle in the standard D+2 timeframe. B3 director Humberto Costa noted that advanced features like 24/7 trading and instant settlement remain contingent on future regulatory authorization from Brazilian authorities. The exchange is currently evaluating whether to include Brazilian depositary receipts and ETFs within this new digital framework. Additionally, B3 plans to seek authorization from the Central Bank of Brazil to act as a custodian for digital assets. This move represents a significant step toward modernizing Brazil's financial infrastructure by bridging traditional equity markets with digital asset technology.

#TokenizedStocks #DigitalAssets #MarketInfrastructure

news.bitcoin.com·Oct 10, 20267.5

Stocks

Wall Street’s 9-to-5 Is Over: Half of Tokenized Stock Trading Happens After the Bell

International Monetary Fund researchers have identified that over 50% of tokenized equity trading occurs outside traditional market hours, signaling strong investor demand for continuous access. The study further reveals that approximately 80% of these trades involve fractional shares, highlighting the role of tokenization in lowering entry barriers for retail participants. While these findings demonstrate shifting investor habits, the IMF cautions that the market remains small, fragmented, and plagued by thin liquidity compared to traditional finance. Tokenized repurchase agreements currently dominate the sector with $300-$350 billion in daily volume, significantly trailing the $13 trillion daily volume of the conventional U.S. repo market. The report emphasizes that for tokenized assets to scale, the industry must resolve critical issues regarding legal certainty, regulatory clarity, and interoperability. Furthermore, the IMF warns that while tokenization offers efficiency, the compression of settlement processes could potentially amplify financial risks like liquidity runs during market stress. Ultimately, the future of tokenized equities depends on building deeper, more reliable infrastructure that can safely integrate with established financial systems.

#TokenizedEquities #MarketInfrastructure #IMF

ccn.com·Oct 8, 20268.0

Infrastructure

The Future of Equity Ownership: An Issuer's Guide to Tokenized Equities

Tokenization is driving a structural shift in equity markets by moving from legacy batch-processed settlement to continuous, programmable ledger-based ownership. While exchanges like Nasdaq and NYSE Arca are extending trading hours to 23 hours per day, these efforts still rely on T+1 settlement and intermediary-heavy clearing, which can increase operational risk. Tokenization addresses these inefficiencies by enabling near-instant settlement and direct ownership, bypassing the traditional chain of custodians and nominees. Market data shows significant growth in on-chain activity, with spot volume for tokenized assets rising from $38 billion in 2025 to a projected $145 billion in 2026. Although perpetual futures currently dominate equity-related exposure, the rise in spot volume signals a transition toward genuine, ownership-based digital markets. The report emphasizes that the legal distinction between issuer-sponsored tokens and third-party synthetic wrappers is critical for investor protection and regulatory compliance. Ultimately, true tokenization allows for programmable corporate actions and real-time shareholder registers, marking a shift comparable to the historical move from paper certificates to electronic book-entry systems.

#Blockchain #TokenizedEquities #DTCC

coindesk.com·Sep 29, 20268.0

Infrastructure

Nasdaq Eyes Always-On Markets With Tokenized Equities and 23/5 Trading

Nasdaq is advancing its 'always-on' market strategy by integrating tokenized equities and extended trading hours to enhance investor access and market efficiency. President Tal Cohen confirmed that the upcoming Nasdaq Equity Token will be issuer-sponsored, ensuring that economic and governance rights, such as proxy voting and dividends, remain intact for investors. The company has partnered with Kraken to distribute these tokens and utilize Nasdaq’s surveillance technology, aiming to bridge permissioned and permissionless blockchain environments. Nasdaq projects a $3 billion to $6 billion serviceable market for these always-on initiatives by 2030, encompassing trading, asset servicing, and collateral management. Furthermore, the firm is connecting its Calypso collateral-management platform to digital rails like the Canton Network to facilitate real-time margin views and 24/7 collateral mobility. By acquiring the alternative trading system LeveL, Nasdaq intends to expand its execution protocols and international reach while maintaining a strictly regulated framework. This shift represents a significant institutional effort to standardize interoperability between traditional financial markets and blockchain infrastructure.

#CantonNetwork #TokenizedEquities #Kraken

marketbeat.com·Sep 24, 20269.0

Infrastructure

ClearToken Joins Bank Of England Digital Securities Sandbox

ClearToken has been officially accepted into the Bank of England’s Digital Securities Sandbox (DSS) to operate as a Digital Securities Depository. This milestone allows the firm to provide tokenized versions of existing securities, enabling intraday repo settlement that eliminates traditional batch processing and end-of-day cut-offs. By facilitating settlement throughout the day, institutions can borrow against collateral more efficiently, significantly reducing financing costs. At launch, the platform will support FTSE 350 equities, GBP government debt, and various corporate bonds, with plans to expand into private funds and commodities. CEO Ben Santos-Stephens emphasized that the move addresses the critical infrastructure gap in tokenization, specifically regarding settlement, collateral mobility, and payments. ClearToken holds UK permissions for these pillars, including authorization for the cash leg of transactions. This integration into the DSS represents a major step in bridging the gap between digital innovation and regulated financial markets within the UK.

#Tokenization #BankOfEngland #MarketInfrastructure

crowdfundinsider.com·Sep 22, 20268.5

Infrastructure

Tokenized Markets and the Role of Regulatory Clarity

Traditional financial exchanges like Nasdaq and NYSE Arca are transitioning toward 23x5 trading models to compete with the continuous liquidity established by digital asset markets. Data from Binance indicates that 62% of its tokenized stock volume occurs outside U.S. market hours, driven largely by emerging market participants. While retail-driven tokenized equities demonstrate effective price discovery, institutional adoption remains constrained by fiduciary obligations and a lack of regulatory certainty. Major players like JPMorgan, BlackRock, and the DTCC are actively developing blockchain-based infrastructure, including the Kinexys payment system and the BUIDL money market fund. However, the industry faces a critical bottleneck as the Digital Asset Market Clarity Act, which aims to define regulatory oversight between the SEC and CFTC, faces legislative delays in the U.S. Senate. JPMorgan has warned that the absence of these settled rules may force institutions to rely on legacy infrastructure rather than public blockchains. Ultimately, the transition from pilot programs to large-scale balance sheet participation depends on resolving these legislative hurdles to unlock deeper institutional liquidity.

#InstitutionalAdoption #TokenizedStocks #MarketInfrastructure

indystar.com·Sep 18, 20268.0

Infrastructure

Nasdaq (NDAQ) Could Be 14% Undervalued On Its Push Deeper Into Tokenized Markets

Nasdaq is expanding its strategic focus on tokenized markets by deepening its collaboration with Payward, the parent company of the Kraken crypto exchange. This partnership centers on advancing the Nasdaq Equity Token framework and implementing a new market surveillance agreement to support digital asset trading. While Nasdaq faces short-term share price volatility, with a year-to-date decline of 7.69%, the company continues to position itself as a key infrastructure provider for the evolving tokenization landscape. The firm's long-term growth narrative is increasingly tied to the successful adoption of its tokenization technology and the regulatory environment surrounding digital securities. Analysts are weighing these strategic technological advancements against current valuation metrics, noting that the stock trades at a P/E ratio of 25.4x. The potential for Nasdaq to capture market share in the tokenized asset space remains a critical factor for its future valuation. Ultimately, the company's ability to integrate traditional market surveillance with blockchain-based equity frameworks will determine its competitive standing in the RWA sector.

#Tokenization #Kraken #Nasdaq

simplywall.st·Sep 16, 20266.5

Stocks

Tokenized Stocks Just Tripled Their Market Share. Almost No One Can Trade Them at Size

Tokenized equities have surged to represent approximately 15 percent of the total real-world asset market, reaching a combined market capitalization of nearly 2.8 billion dollars. Major players such as Ondo, Binance, and Kraken’s xStocks are currently leading this expansion, signaling a shift toward 24/7 on-chain access to U.S. stocks. Despite this growth in accessibility, the sector faces a significant hurdle regarding secondary market liquidity and the ability to execute large-scale institutional trades without excessive slippage. While minting tokens that reference share prices has been achieved, the industry now requires robust infrastructure to ensure tight spreads and deep order books. Bitget reports that prioritizing liquidity and settlement over mere ticker listings has resulted in an eighteenfold increase in trading activity for its rToken products. The long-term viability of the asset class depends on creating a unified settlement layer that integrates spot, derivatives, and collateral to maximize capital efficiency. Ultimately, the transition from a demonstration phase to a mature market will be defined by the ability to facilitate continuous, high-volume execution for both human and AI-driven traders.

#RWA #TokenizedEquities #Bitget

tradersmagazine.com·Sep 16, 20267.5

Infrastructure

Nasdaq at Barclays conference: growth bets span ipo, ai and tokenization

Nasdaq CEO Adena Friedman highlighted tokenization as a core strategic growth pillar during the Barclays Global Financial Services Conference. The exchange operator is actively developing infrastructure to support the lifecycle of tokenized assets, aiming to bridge traditional financial markets with blockchain technology. By focusing on institutional-grade solutions, Nasdaq intends to facilitate the issuance, trading, and custody of digital securities. This initiative reflects a broader industry shift where major financial exchanges are integrating distributed ledger technology to improve settlement efficiency and market transparency. The company's commitment underscores the increasing institutional validation of tokenized assets as a legitimate evolution of capital markets. As Nasdaq scales these capabilities, it positions itself to capture significant volume from the migration of traditional financial instruments onto blockchain rails. This strategic pivot signals that tokenization is moving from experimental pilot programs to becoming a foundational component of global market infrastructure.

#Tokenization #InstitutionalFinance #Nasdaq

ca.investing.com·Sep 14, 20267.5

Stocks

Tokenized Stocks Are Moving From Crypto Experiments to Wall Street Infrastructure

Tokenized stocks are evolving from niche crypto experiments into foundational Wall Street infrastructure, with major institutions like Nasdaq and the DTCC leading the transition. By leveraging blockchain technology, these firms aim to modernize equities trading, settlement, and custody through increased programmability and 24/7 availability. Nasdaq is developing its own equity token product with a planned 2027 launch, supported by a $100 million investment in Kraken’s parent company, Payward, to bridge institutional compliance with crypto-native distribution. The DTCC is simultaneously building infrastructure to represent eligible securities on-chain, focusing on automating clearing and settlement to reduce operational costs and reconciliation burdens. While crypto-native platforms like Robinhood and Ondo continue to expand retail access, the shift toward institutional-grade tokenization promises to enhance collateral mobility and capital efficiency. This transition represents a fundamental change in market structure, moving away from fragmented databases toward shared, on-chain settlement systems. Ultimately, the integration of traditional financial expertise with blockchain efficiency is positioning tokenized equities as a critical component of future global capital markets.

#TokenizedStocks #DTCC #Nasdaq

bitcoinfoundation.org·Sep 14, 20268.5

Infrastructure

The week in GRC: Better Markets sues Fed alleging collusion with Wall Street banks as Nasdaq makes tokenization investment | Governance Intelligence -

Nasdaq’s venture arm has committed a $100 million investment into Payward, the parent company of the cryptocurrency exchange Kraken, to accelerate the development of tokenization infrastructure. This strategic partnership aims to launch Nasdaq Equity Tokens (NETs) by the second quarter of 2027 via the xStocks platform. The initiative focuses on creating systems that enable the trading and settlement of tokenized assets outside of traditional market hours while maintaining strict regulatory compliance and investor protections. By linking regulated markets with blockchain-based systems, the collaboration seeks to preserve market integrity and liquidity for tokenized securities. This move represents a significant institutional push to modernize financial market infrastructure by integrating continuous trading capabilities into the equity ecosystem. The project builds upon a prior partnership established in March, signaling a long-term commitment to bridging the gap between legacy financial systems and distributed ledger technology. This development is a critical indicator of how major exchange operators are actively positioning themselves to capture the growing demand for tokenized real-world assets.

#Tokenization #Kraken #Nasdaq

governance-intelligence.com·Sep 12, 20268.5

Infrastructure

Nasdaq Advances Always-On Markets and Tokenized Equities Strategy with Agreement to Invest in Payward

Nasdaq has announced a $100 million investment in Payward, the parent company of the global crypto exchange Kraken, to accelerate the development of tokenized equity infrastructure. This strategic move deepens a partnership initiated in March, specifically targeting the launch of Nasdaq Equity Tokens (NETs) by the second quarter of 2027. The collaboration aims to integrate Nasdaq’s regulated market surveillance technology with Payward’s xStocks ecosystem to facilitate seamless capital movement and always-on liquidity. By combining Nasdaq’s institutional expertise with Kraken’s crypto-native execution capabilities, the companies intend to build a robust framework for the distribution and settlement of tokenized stocks. This initiative represents a significant step toward the convergence of traditional financial markets and decentralized networks. The partnership also includes the adoption of Nasdaq’s market surveillance tools across Kraken’s trading venues to ensure high-integrity operations. Ultimately, this investment underscores Nasdaq's commitment to modernizing market infrastructure through programmable assets and interoperable digital systems.

#TokenizedEquities #Kraken #Nasdaq

nasdaq.com·Sep 10, 20268.5

Infrastructure

SEC's Innovation Delay: Impact on Tokenized Securities

The SEC has postponed its proposed innovation exemption, a regulatory framework intended to provide a conditional path for firms to issue, custody, and trade tokenized securities. This delay creates uncertainty for market participants who were looking for a streamlined approach to on-chain trading outside of existing Securities Act and Exchange Act constraints. Ryan Louvar, Chief Legal Officer at WisdomTree, emphasizes that the exemption was designed to foster a broader on-chain trading environment rather than serving as a permanent overhaul of securities law. While some firms like WisdomTree currently operate tokenized funds within existing rules, the exemption was viewed as a critical step toward reducing friction in digital asset markets. The pause highlights the ongoing tension between rapid technological innovation and the need for durable regulatory clarity from both the SEC and Congress. Ultimately, the future of institutional-grade on-chain market infrastructure remains contingent on establishing clear standards for custody and market structure. This development underscores the regulatory hurdles that must be cleared to achieve a fully functional, frictionless tokenized securities ecosystem.

#SEC #Regulation #TokenizedSecurities

investingnews.com·Sep 7, 20267.5

Stocks

London Stock Exchange plans to roll out tokenised stocks in push into digital assets

The London Stock Exchange (LSE) is advancing plans to launch a blockchain-based platform for trading tokenized traditional financial assets, marking a significant shift toward digital market infrastructure. This initiative aims to streamline the settlement process and enhance efficiency for institutional investors by leveraging distributed ledger technology. While the exchange has not yet finalized the specific assets for the initial rollout, the project signals a broader institutional commitment to integrating tokenization into mainstream capital markets. By digitizing stocks and other securities, the LSE seeks to reduce the friction associated with traditional clearing and settlement cycles. This move follows a year-long feasibility study conducted by the exchange to evaluate the potential of blockchain for public markets. The development reflects a growing trend among major global exchanges to modernize legacy systems through tokenization. Ultimately, this effort underscores the increasing legitimacy of blockchain technology within the regulated financial sector, potentially setting a precedent for other global exchanges to follow.

#Blockchain #TokenizedStocks #DigitalAssets

theedgesingapore.com·Sep 3, 20268.5

Stocks

Tokenized Stocks Risk Digital Repeat of 1960s Wall St Paperwork Crisis, Fairmint CEO Warns

The 1960s Wall Street paperwork crisis, which forced the New York Stock Exchange to close on Wednesdays to address massive settlement failures, serves as a cautionary tale for the modern tokenized securities market. Fairmint CEO Thibauld Delanoue warns that current RWA development is suffering from extreme fragmentation, as various exchanges, SPVs, and proprietary ledgers maintain incompatible records of ownership. While tokenization changes the medium of asset representation, it does not inherently solve the coordination problems that historically plagued physical share certificates. Delanoue emphasizes that tokens are not equity themselves but rather representations that require robust, standardized infrastructure to maintain the same legal safeguards as traditional systems. The current rapid proliferation of siloed platforms risks creating a structural reconciliation crisis that could mirror the operational failures of the late 1960s. To avoid this, the industry must prioritize building shared standards and consensus frameworks over mere distribution. This perspective highlights that the long-term viability of tokenized stocks depends on aligning settlement rules and custodial structures across the entire market ecosystem.

#RWA #TokenizedStocks #MarketInfrastructure

coinmarketcap.com·Aug 25, 20267.5

Infrastructure

Jackson McGonagle – Meet the Crypto Man Set to Power Nasdaq’s Tokenization Push

Nasdaq has appointed Jackson McGonagle as AVP of Capital Markets Digital Assets Strategy to accelerate the exchange's integration of blockchain technology into core market infrastructure. McGonagle brings extensive experience from roles at NYSE Euronext, Binance, Fidelity Digital Assets, and Re7 Capital, positioning him to bridge the gap between traditional finance and digital assets. This strategic hire follows Nasdaq's recent efforts to modernize capital markets, including a July production event with the DTCC that successfully utilized tokenized assets within existing market frameworks. Nasdaq is further consolidating its digital capabilities under a new Digital Liquidity Networks unit, which integrates liquidity platforms and tokenization solutions. The exchange is also expanding its surveillance reach, recently providing its market monitoring technology to the prediction-market platform Kalshi. These developments signal that Nasdaq is moving beyond experimental phases to embed blockchain directly into the machinery of global finance. By focusing on infrastructure rather than separate blockchain markets, Nasdaq aims to make tokenization a foundational element of its capital markets business. This shift underscores a broader institutional trend where traditional market operators prioritize the modernization of settlement and surveillance systems through digital asset technology.

#Tokenization #DTCC #DigitalAssets

coingape.com·Aug 25, 20267.5

Stocks

Robinhood CEO Urges U.S. to Clear Path for Tokenized Stocks as Overseas Markets Advance

Robinhood CEO Vlad Tenev has publicly advocated for the United States to establish a clear regulatory framework for tokenized stocks to prevent the country from falling behind international competitors. Tenev argues that the current financial infrastructure is outdated, noting that overseas markets are already making significant strides in adopting blockchain-based settlement systems. By tokenizing equities, Robinhood aims to enable 24/7 trading and near-instant settlement, which would drastically improve capital efficiency compared to the traditional T+1 settlement cycle. The CEO emphasized that without proactive legislative action, the U.S. risks losing its status as the global financial hub to jurisdictions with more progressive digital asset policies. This push highlights a growing institutional desire to bridge the gap between legacy stock markets and decentralized ledger technology. The integration of tokenized assets could fundamentally reshape how retail investors interact with equity markets by removing intermediaries and reducing transaction costs. Ultimately, this call to action underscores the urgent need for U.S. regulators to modernize market structures to accommodate the inevitable shift toward blockchain-native financial instruments.

#TokenizedStocks #Regulation #MarketInfrastructure

moomoo.com·Aug 22, 20267.5

Stocks

Tokenized stocks risk repeating Wall Street’s 1960s ‘paper crisis,’ Fairmint CEO says

Fairmint CEO Joris Delanoue warns that the current trajectory of tokenized stocks risks replicating the 1960s Wall Street paper crisis due to a lack of unified standards. During that historical period, the rapid increase in trading volume overwhelmed manual record-keeping systems, leading to massive settlement failures and industry-wide instability. Delanoue argues that the modern tokenization landscape is becoming similarly fragmented, with various protocols and blockchains operating in silos that prevent seamless interoperability. Without a standardized framework for digital securities, the industry faces potential systemic bottlenecks as adoption scales. This fragmentation complicates the reconciliation of ownership records across disparate ledger systems, mirroring the inefficiencies of the pre-digital era. Addressing these technical hurdles is essential for tokenized assets to achieve the liquidity and reliability promised by blockchain technology. The warning highlights a critical need for industry-wide cooperation to establish common protocols before institutional volume reaches a breaking point.

#TokenizedStocks #DigitalSecurities #MarketInfrastructure

CoinDesk·Aug 22, 20267.5

#MarketInfrastructure

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