DeutschFor decades, the rhythm of the financial markets was clearly defined: bell on, bell off. Trade in the morning, close in the evening, weekend break. But this order is beginning to falter. The 24/7 rhythm of the crypto markets is beginning to transform the heavyweights of the traditional financial world. Now, one of the industry’s most venerable institutions is announcing a radical step: the New York Stock Exchange (NYSE) is working on a digital platform where tokenized stocks can be traded around the clock.
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The message is clear. What was previously considered the crypto industry’s playground is now being adapted by Wall Street. The NYSE announced that it would further develop its existing trading system, which is tied to weekdays, and switch to an infrastructure that is available seven days a week, 24 hours a day. Nasdaq had previously hinted at similar plans. Now the industry leader is following suit, as reported by «Reuters», among others.
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At the heart of the new offering is a blockchain-based platform that is consciously based on the logic of the crypto markets. Instead of classic settlement processes, transactions should take place directly «on-chain». Stablecoins should also become part of the system. This would mean that deposits and withdrawals would no longer be exclusively tied to bank transfers, but could take place in real time – a break with traditional stock exchange mechanisms.
Despite the new technology, the familiar security should be maintained. The NYSE emphasizes that all trading, settlement and custody processes take place under its umbrella. Investors are therefore not moving on an external crypto platform, but within the familiar stock exchange structure – just more digital. Tokenized shares should have exactly the same legal status as classic securities. Dividends, voting rights and other shareholder rights remain fully intact.
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The stock exchange is working with established financial giants to operate the platform. Banks such as BNY Mellon and Citi are expected to play a central role, particularly in the use of tokenized deposits. BNY is no stranger to the industry: the bank already cooperates with Circle in the custody of the cash reserves behind the stablecoin USDC. The connection between classic banking and blockchain technology is thus being further strengthened.
When will the new platform launch?
NYSE President Lynn Martin also made it clear that this step is more than just a technical experiment. «We have been managing markets for over 200 years. As in previous major upheavals, we are at a turning point today. We are moving fully towards on-chain,» she said. The stock exchange sees itself once again in the role of shaper, not doubter.
A specific launch date for the new platform has not yet been announced. But the announcement alone shows how much pressure has been put on traditional financial infrastructures. While crypto markets have long been open 24/7, the pressure from global investors to be able to react at any time is growing. The NYSE is drawing its conclusions from this.
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For the crypto industry, this step is a symbolic knighthood. For Wall Street, it’s a calculated restructuring. And for investors, it could be the beginning of a financial world in which stock market bells are finally history. The line between crypto and the classic financial world is blurring – this time not on the periphery, but at the heart of the system. (mck)
