Changpeng Zhao (CZ), the founder of Binance and one of the most influential figures in the cryptocurrency world, said that the tokenized securities platform announced by the New York Stock Exchange (NYSE) is very bullish for the crypto sector and crypto exchanges.
CZ stated in his assessment, “This development is bullish for cryptocurrencies and crypto exchanges.”
NYSE’s newly announced platform aims to build an entirely new transaction environment rather than simply adding blockchain to the existing exchange. This new structure will offer features such as 24/7 uninterrupted trading, instant settlement (instead of T+1), stablecoin-based funding instead of bank transfers, and the direct issuance of securities as digital assets. In other words, the system will not be a digitization of traditional infrastructure, but a completely new marketplace designed from scratch on the blockchain.
With this move, the NYSE will effectively be operating two parallel exchanges. While the existing traditional exchange will continue to operate with limited trading hours, delayed settlement, and banking infrastructure, the new platform will operate 24/7 with instant clearing and stablecoin payment rails. Thus, instead of choosing between traditional and digital finance, the NYSE has opted to run both models simultaneously.
Other major companies in the sector are generally focusing on tokenizing existing assets. DTCC is tokenizing securities held in custody, State Street is working on money market funds and ETFs, and Nasdaq is creating regulations to run tokenized transactions alongside traditional systems. NYSE, however, differs from these approaches by planning to establish both on-chain issued shares and a next-generation trading platform where they will be traded. This puts NYSE in direct competition with projects like Figure’s OPEN platform and Superstate.
Tokenized shares are opening the door to a new financial order where consensus occurs on-chain, storage is held in wallets instead of DTCCs, transactions never stop, and capital creation takes place via stablecoins.
*This is not investment advice.
