Exchanges Race to Offer 24/7 Tokenized Stocks
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- Kraken acquired xStocks developer Backed Finance in late 2025 and expanded the platform across its exchange, while Bybit and Bitget have also integrated xStocks.
- Coinbase and Binance rolled out their own tokenized equity offerings in recent months, putting crypto-native and incumbent platforms in the same market.
- The SEC approved Nasdaq's pilot in March to trade tokenized stocks alongside conventional securities on the same exchange.
- The NYSE partnered with Securitize to develop a 24/7 platform for tokenized stocks and ETFs.
- The DTCC announced plans to launch a tokenized securities service in October after a pilot involving more than 50 financial and crypto firms.
Why it matters: The SEC has already approved Nasdaq's tokenized-stock pilot and the DTCC has set an October launch date for its tokenized securities service — meaning 24/7 equity trading is moving from crypto-niche concept into infrastructure backed by Wall Street's central clearinghouse and major exchanges.
