NYSE develops on-chain settlement platform for tokenised securities

The New York Stock Exchange (NYSE) is working on an on-chain settlement platform for tokenised securities. NYSE President Lynn Martin announced this at a seminar on the modernisation of the South Korean capital market in Seoul.

In brief:

• NYSE is developing an on-chain settlement platform for tokenised securities.
• The exchange took part in a tokenisation trial by DTC, the American central securities depository, in July.
• Lynn Martin sees the technology as a bridge between traditional finance and DeFi.

Lynn Martin unveils platform in Seoul

Lynn Martin spoke on 10 August at a seminar in the South Korean National Assembly building in Yeouido, Seoul. There, she cited tokenisation and on-chain settlement as concrete examples of infrastructure that can increase trust in financial markets.

Martin said she took part in a trial by DTC, the US central securities depository, in July. According to her, the NYSE will further investigate how this technology can be responsibly deployed as core infrastructure for global financial markets. She said the sector is at a tipping point where new technology is being integrated into traditional markets, Digital Asset Works reports.

Bridge between TradFi and DeFi

Martin indicated that the NYSE sits at the intersection of traditional financial services and DeFi. She sees the development of the on-chain platform as a step towards bringing the two worlds closer together and deploying new technology in a controlled way within the established financial market.

The NYSE’s move aligns with a broader trend among major financial institutions that increasingly use blockchain for the issuance and settlement of securities. With its own on-chain platform, the exchange wants to play an active role in the further development of this infrastructure on a global level.