At a Glance
- NYSE will let investors trade U.S. stocks 24/7 on a private blockchain
- Settlement will be instant, and the platform will sit beside the classic exchange
- Regulators still need to approve the plan
- Why it matters: Traditional markets could finally match crypto’s always-on pace
The New York Stock Exchange wants to keep the lights on around the clock. On Monday the exchange revealed a new platform that tokenizes U.S. equities and lets them trade 24/7 with immediate settlement, according to details shared by News Of Austin. The system will run parallel to the existing NYSE structure and is already under regulatory review.
Private Chains, Public Stocks
Unlike most crypto headlines, the NYSE will not use Ethereum, Solana, or any other public network. Instead it will rely on a private, permissioned blockchain where only authorized banks and brokers can validate transactions. CoinDesk reports that this approach keeps control inside a closed consortium rather than a decentralized community.
Private blockchains have become fashionable among centralized finance giants. Circle and Tether now market their own permissioned chains for USDC and USDT, arguing that dollar-pegged stablecoins do not need the cost or complexity of public validation. Many of these networks still mirror Ethereum’s technical standards, a point Ethereum advocates cite as proof of their stack’s relevance even when no ETH changes hands.
Tokenized Stock Universe
While NYSE builds behind closed doors, other firms already issue stocks on public chains. RWA.xyz tallies roughly $850 million worth of tokenized equities live today. Robinhood last year described stock tokenization as the killer use-case for its own Ethereum layer-two network. Coinbase and Kraken are pursuing similar products, betting that traders want equities that settle like crypto.
Where the bulk of volume will ultimately land remains an open question. Centralized venues want maximum control and fee capture, a pattern already visible in stablecoin issuance. Tech giants and banks increasingly issue their own dollar tokens rather than run nodes on Bitcoin-style networks, pushing the sector toward more centralized architectures.
Stablecoins at the Core
NYSE’s Monday announcement also flagged stablecoins as a funding rail for the new platform. The move underscores how crypto’s dollar proxies have become plumbing for mainstream finance even as they drift from the decentralized ethos of Bitcoin’s original white paper.
Bitcoin itself has sidestepped much of this centralization. The network focuses solely on BTC, avoiding tokenized assets or permissioned sidechains. Yet institutional custody keeps growing: Harvard’s endowment and the U.S. government now hold BTC, raising questions about how concentrated ownership has become. During economic crises, however, individuals in places like Iran still turn to Bitcoin as a decentralized safe haven.
Regulatory Hurdles Ahead
The CLARITY Act, now circulating in Congress, could set the rules for tokenized equities. The bill recently lost a major backer when Coinbase withdrew its support, but lawmakers continue to debate how much clarity the market needs before platforms like NYSE can launch.
Approval timelines remain uncertain. Until regulators sign off, the exchange’s 24/7 vision stays in the pipeline alongside a growing queue of Wall Street blockchain pilots hunting for the same green light.
