Changpeng Zhao (CZ), founder of Binance and a leading cryptocurrency industry figure, has declared the New York Stock Exchange's (NYSE) newly announced tokenized securities platform as "bullish for cryptocurrencies and crypto exchanges." The platform represents a fundamental shift rather than a simple integration of blockchain technology into existing infrastructure.
The NYSE's initiative aims to create an entirely new transaction environment designed from the ground up on blockchain. Key features will include 24/7 uninterrupted trading, instant settlement (replacing the traditional T+1 model), stablecoin-based funding instead of bank transfers, and the direct issuance of securities as digital assets. This contrasts with the traditional NYSE exchange, which will continue operating with limited hours, delayed settlement, and conventional banking rails, effectively creating two parallel exchanges under the NYSE umbrella.
This approach differentiates the NYSE from other major financial institutions. While entities like DTCC, State Street, and Nasdaq are focused on tokenizing existing assets or creating regulations for hybrid systems, the NYSE is building a next-generation platform for on-chain issued shares. This strategy places it in direct competition with emerging blockchain-native platforms like Figure's OPEN and Superstate.
The move signals a potential new financial paradigm where consensus occurs on-chain, assets are stored in digital wallets rather than centralized depositories like the DTCC, markets operate continuously, and capital formation leverages stablecoins.
