Tokenized stocks need traditional exchanges

The venues where digital assets trade, from Coinbase and Binance to decentralized protocols, with their listings, licenses, custody and failures.

Traditional assets like treasuries, funds, stocks and real estate brought onto blockchains as tradable tokens.

Moving stocks, bonds, and other securities onto blockchains as tokenized assets, and the debates over investor protection, trading hours, and settlement.

Putting shares on blockchains raises questions about market hours, legal ownership and who controls where shares can trade.

On September 17, 2026, the SEC issued temporary, conditional exemptions for venues trading tokenized U.S. listed shares and certain liquidity providers. The framework permits specified trading arrangements while retaining investor-rights, issuer-notice and market-safeguard conditions.

Nasdaq Ventures agreed on September 10, 2026 to invest $100 million in Payward, the parent company of Kraken. The companies will also develop tokenized-equity infrastructure and deploy Nasdaq market-surveillance technology across Payward trading venues.