SEC Approves Nasdaq to Launch Tokenized Stock Trading Pilot

Odaily News The U.S. Securities and Exchange Commission (SEC) has approved Nasdaq to launch a tokenized stock trading pilot, marking a further integration of traditional finance and blockchain.

According to the document, eligible participants can choose to settle stocks in tokenized form within the pilot operated by the Depository Trust & Clearing Corporation (a DTCC subsidiary). At the same time, these tokenized stocks will share the same order book and matching priority as traditional stocks and must provide investors with the same shareholder rights.

This pilot allows market participants to explore the feasibility of on-chain settlement without altering the trading structure, representing a significant step in gradually introducing traditional securities market infrastructure to the blockchain.

Under the leadership of SEC Chairman Paul Atkins, regulators are accelerating the formulation of crypto-related rules, including exploring mechanisms such as "innovation exemptions." However, the SEC still emphasizes that tokenized securities must comply with the existing securities legal framework.

Overall, this pilot further validates the possibility of tokenized stocks being implemented on mainstream exchanges and paves the way for broader on-chain securities trading in the future.