The New York Stock Exchange (NYSE) said Tuesday that it will partner with software company Securitize to develop its tokenized securities trading platform. Per a press release from the exchange, NYSE and Securitize will work to develop a digital transfer agent program intended to support on-chain settlement of tokenized security transactions.

The companies plan to collaborate on the development of standards for digital transfer agents and tokenization agents participating in the digital ecosystem, with a focus on establishing regulatory, operational, and technology requirements for institutional-grade tokenized securities infrastructure. As part of the broader partnership, Securitize Markets is expected to become one of the broker-dealer participants on the upcoming Digital Trading Platform, supporting the development of market structure for issuer-sponsored tokenized securities.

“The NYSE continues to lead the industry in responsible innovation,” said Lynn Martin, President, NYSE Group. “As we explore how tokenization can enhance capital markets, it is critical that new infrastructure is developed in a way that preserves the trust, transparency, and protections investors expect. Securitize brings deep experience in digital asset infrastructure and transfer agency, making them a strong partner in helping design this next generation of market structure.”

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“Securitize has spent years building the regulated infrastructure needed to bring real-world assets on-chain,” said Carlos Domingo, Co-Founder and CEO, Securitize. “We are proud to support NYSE in helping design the foundational transfer agent infrastructure for tokenized securities markets. This is about building tokenization in a way that works within real market structure, with the protections, controls, and operational integrity required for public securities.”

NYSE’s announcement comes after the exchange in January sought approval for the new tokenized securities platform, which companies could use to issue securities that are represented as digital tokens on a blockchain. The deal will also be big for the stablecoin market. Indeed, under NYSE’s plan, the platform would offer 24/7 trading and settle trades instantly. Investors would also be able to use stablecoins to fund trades.