Nasdaq, NYSE and LSEG are building tokenized stock businesses around different commercial bets. We compare their approaches to shareholder rights, settlement, extended trading and crypto-native distribution and what those choices reveal about the customers they want to reach.
What does 1,000% surge in a single product category signal about the future of exchanges? We unpack the numbers, acquisition strategy and ownership logic behind the Robinhood and Crypto.com partnership and the opportunity to earn beyond crypto trading.
The SEC’s transfer agent proposal could bring blockchain into official securities ownership records. This Strategic Edge note examines what the reforms enable for tokenized securities and digital-asset transfer agents—and what remains unresolved around identity, ledger control, regulatory access and transfer finality...
Boston Consulting Group (BCG) drops the Future of Digital Assets report and says tokenized RWAs could reach ~16% of global investable assets by 2035. Key takeaways...
Bullish agreed to buy Equiniti from Siris Capital in a $4.2 billion deal, as the crypto exchange seeks to expand in blockchain-based capital markets infrastructure...
Clearstream, 360X (Deutsche Börse Group backed digital asset exchange venue), and Ondo Finance have announced a partnership to connect traditional financial markets with onchain infrastructure built on public, permissionless blockchains, bringing tokenized equities infrastructure to Europe.
Deutsche Borse has invested $200 million in Payward Inc., the parent of crypto trading platform Kraken, as the Frankfurt stock exchange operator moves to offer access to a wider array of securities over blockchain rails. The deal, which gives Deutsche Börse a 1.5% fully diluted stake in the company.
Franklin Templeton, a major player in traditional mutual fund management and retail distribution, is acquiring a spin-off from CoinFund to launch Franklin Crypto.
The most important tokenization development this week is the SEC’s approval of Nasdaq’s tokenized stock plan. It reveals three critical principles shaping how the SEC, Nasdaq, and DTC view the future of tokenized equities...
Stablecoins Are the Story. Trading Is the Money. Kalshi, one of the two main prediction markets, has reportedly raised $1B+ at a $22B valuation, doubling from $11B just months ago. Backed by Paradigm, Sequoia, a16z, ARK, and now Coatue.
SEC has approved Nasdaq's request to settle Russel 1000, S&P 500 and Nasdaq 100 ETFs in tokenized forms. But this is NOT a disruptive leap toward on-chain markets. This is tokenization without disruption:
