NYSE Goes Full DeFi: Wall Street’s 24/7 Onchain Stock Market Dream

Wall Street is finally embracing blockchain and around-the-clock trading. The New York Stock Exchange is preparing infrastructure to support 24/7 trading of tokenized stocks and ETFs. The effort is being developed under NYSE parent Intercontinental Exchange, and would allow traditional securities to trade continuously using blockchain-based rails, rather than the fixed market hours and delayed settlement that define today’s equity markets. Key elements under consideration include: The platform would still require regulatory approval and isn’t live yet, but moving in the right direction for the crypto natives who have been calling for this eventuality for years.

“For more than two centuries, the NYSE has transformed the way markets operate. We are leading the industry toward fully on-chain solutions, grounded in the unmatched protections and high regulatory standards that position us to marry trust with state-of-the-art technology.” - Lynn Martin, President of NYSE Group

Back in December, BlackRock CEO Larry Fink and COO Rob Goldstein said that finance is “entering the next major evolution in market infrastructure,” one that could move assets “faster and more securely than systems that have served investors for decades.” The world’s most important stock exchange is building for a crypto-native market structure.

This is a big deal for a few reasons: Now what does it mean for prices? Again, it will be slow moving. But the blockchains that become the home of the majority of tokenization (potentially Ethereum and Solana) are set up to be winners. And as the overall pie grows and crypto is taken more seriously, the bull case for crypto majors becomes easier to digest. But once the world’s most important exchange goes tokenized, there’s no looking back.

A few headlines that stood out: The island nation of Bermuda is hoping to bring its entire economy on-chain with the support of American crypto exchange Coinbase and USDC stablecoin issuer Circle. Announced at the World Economic Forum Annual Meeting on Monday, Bermuda will lean on the crypto firms for digital asset infrastructure support for its government, local banks, insurers, and consumers. The goal, according to a press statement, is to create the “world’s first fully on-chain national economy.” “Bermuda has always believ... The Morning Minute spans crypto and NFT news and market analysis, written by Tyler Warner, an ex-banking consultant turned high-volume NFT trader, Pudgy Penguin maxi, and NFT market analyst at Lucky Trader. Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today’s top news: Crypto majors are red and cooling off; BTC at $95,400 Tom Lee’s BMNR invests $200M in equity into Mr. Beast’s platform X cracks down on InfoFi, KAITO falls 20% Saturn announced 11% yield on its USDat stablecoin via Strategy’s STRC GAS token soars 700% to $44M as trenches s... Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today’s top news: Crypto majors are green again with Bitcoin at $96,750 Bitcoin ETFs see $1.54B in net inflows over past 2 sessions, most in months Coinbase withdraws support from Clarity Act draft, markup delayed FUN and FOGO both TGE today along with airdrops for users Myriad announced pa... Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today’s top news: Crypto majors are very green as BTC hits new 2-month high at $95k Monero hits new ATH at $715, up 69% YTD Bitwise financial advisors survey shows increasing allocation to crypto Yzi Labs makes 8-figure investment in Genius Trading, building “onchain Binance” ETHGas Found...