NYSE and Blockchain.com Sign Tokenized-Stocks MOU

The New York Stock Exchange and Blockchain.com signed a non-binding memorandum of understanding on Wednesday, September 23, to give Blockchain.com's users a planned route into the NYSE's digital alternative trading system, a regulated venue where tokenized US stocks would trade. Trading would start only after regulators approve it.

For anyone already holding crypto on Blockchain.com and watching the tokenized-stocks race from the sidelines, that is the line to watch. The NYSE is a real venue with a regulated structure, the planned venue is being built, and the planned distribution channel is the app you may already have on your phone.

What the planned venue would actually enable

The exchange announced this digital venue in January 2026. It combines the NYSE's Pillar matching engine, the same system that matches orders on the regular floor, with blockchain-based post-trade plumbing.

The promise: 24/7 trading, instant handover of shares and cash, funding in stablecoins, fractional shares, and the same dividends and voting rights ordinary shareholders get. A 2 a.m. trade on a Sunday would be possible. A $50 position in a tokenized share of a name you cannot currently afford whole would be possible.

Why this deal landed now

The MOU came about a week after the US Securities and Exchange Commission created a temporary five-year "Innovation Exemption" on September 17. The exemption lets qualifying venues trade certain tokenized National Market System stocks through permissioned automated market makers and liquidity pools. One rule applies: the tokens must carry the same rights as ordinary shares. Synthetic copies are out. SEC Chair Paul Atkins said the agency acted after Congress failed to advance the Clarity Act.

The 44M gateway and the data swap

Blockchain.com says it has more than 44 million confirmed accounts, more than 95 million wallets supported, and over $1.1 trillion in crypto transactions processed to date. The company operates in more than 70 jurisdictions.

"People shouldn't be limited in owning stocks based on where they happen to live or the brokerage and information they may or may not have access to," Peter Smith, Blockchain.com's CEO, said in the release. "Tokenized stocks are one of the most impactful advancements in the modern financial landscape, and a key catalyst for greater economic freedom."

One note the announcement does not paper over: confirmed accounts are not the same as active users. The MOU did not include an active-user figure.

ICE Data Services, part of NYSE owner Intercontinental Exchange, plans to distribute Blockchain.com's crypto market data and analytics to its subscribers. In return, Blockchain.com plans to put live NYSE and ICE stock prices inside its app. Some of that information may also feed "June," Blockchain.com's in-app AI assistant.

What the announcement does not say

This is an MOU, not a launch. The announcement does not say which countries would get access first, whether US-based Blockchain.com users would be included, what fees would apply, or when any of it might begin. It also does not explain how the new arrangement would sit alongside Blockchain.com's existing Ondo Finance-powered tokenized stock product, which already covers more than 200 US stocks and ETFs in 30 European Economic Area countries. Those Ondo products track the economic performance of the underlying shares and are backed by assets held with licensed US custodians.

Where this sits in the wider race, and what turns an MOU into a live product

The NYSE signed an MOU with Securitize in July, naming it the first digital transfer agent eligible to mint blockchain-native securities on the digital platform. Cantor Fitzgerald this week flagged 95% upside in Securitize, a firm that turns stocks into tokens.

Nasdaq has taken a different architectural approach, layering tokenization onto its existing clearing infrastructure rather than building a separate venue.

The Citi Institute forecasts a $5.5 trillion base case for tokenized assets by 2030, a figure the joint announcement also cites.

Three things have to happen for the planned route to open. The NYSE's digital ATS has to launch under the SEC's Innovation Exemption. Regulators in the relevant jurisdictions have to clear the distribution. And Blockchain.com has to disclose which countries, which users, and which fee and custody model would apply.

Until then, the MOU is a statement of intent. It tells you where the line is going. It does not yet tell you when you can buy a tokenized share at 3 a.m.