NYSE’s Tokenized Securities Plan ‘Bullish’ for Crypto, Binance’s Founder CZ Says

Boluwatife Adeyemi
10 hours ago
Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
an image of to represent CZ's comments on NYSE's tokenization plans

Highlights

  • CZ stated that NYSE's tokenization platform is bullish for crypto and crypto exchanges.
  • NYSE's proposed tokenization platform will facilitate 24/7 stock and ETFs trading.
  • Ripple's executive Reece Merrick described the move as big.

Binance’s founder Changpeng “CZ” Zhao has reacted to the New York Stock Exchange’s (NYSE) plan to launch a tokenized securities platform. Other crypto stakeholders, such as Ripple’s executive Reece Merrick, have also highlighted how big this move could be for the industry.

CZ Reacts To NYSE’s Tokenized Securities Push

In an X post, the Binance founder stated that the stock exchange’s plan to launch a tokenized securities platform is bullish for crypto and crypto exchanges. The NYSE had earlier in the day announced that it was developing a platform for trading and on-chain settlement of tokenized securities, for which it will seek regulatory approvals.

According to the press release, the platform will facilitate 24/7 trading of stocks and equities, including crypto stocks such as Circle’s CRCL, with instant settlement. The platform will also enable stablecoin-based funding, enabling investors to trade these assets with stablecoins.

Furthermore, NYSE raised the possibility of multi-chain collaboration, noting that its blockchain-based post-trade systems will include the capability to support multiple chains for settlement and custody. This announcement comes just months after revelations that the SEC was considering allowing on-chain stock trading alongside crypto assets.

CoinGape had also reported in December that the SEC had advanced proceedings to enable the launch of tokenized securities trading on Nasdaq. The Nasdaq’s move will also ensure that other crypto stocks, such as Coinbase’s COIN, Strategy’s MSTR, and Robinhood’s HOOD, are available for 24-hour trading.

Just like Binance’s founder CZ, market expert Adam Livingston described the NYSE’s announcement as being bullish. Specifically, he stated that Bitcoin buying will increase “big time” as a result.

“Big” News For The Crypto Industry

In an X post, Ripple executive Reece Merrick described NYSE’s tokenization plan as “big.” This came as he highlighted that the tokenized securities platform will facilitate 24/7 trading of stocks and ETFs, allow fractional share trading, and offer immediate settlement via tokenized capital.

Galaxy Digital Head of Research Alex Thorn also described the move as a “big and important step.” He claimed that the big unlock for tokenized stocks is self-custody, blockchain settlement, p2p transfer, and, importantly, access to DeFi.

“The meaningful enhancement to equity securities offered by tokenization is access to DeFi. Clearing firms and exchanges being able to interact with tokenized stocks is an important “closing of the loop,” Thorn said. It is worth noting that top crypto exchanges such as Coinbase are also working on offering tokenized securities.

While commenting on the CLARITY Act, Robinhood CEO Vlad Tenev noted that stock tokens are already available to their customers in the European Union (E.U.) but not in their home market. As such, he declared that it was time for the U.S. to lead on crypto policy.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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