Nasdaq and NYSE owner lean on crypto exchanges to put $126T market onchain

Wall Street’s biggest exchanges are moving to put the $126 trillion equity market on blockchains, and they are partnering with crypto exchanges to do it. Over the past week Nasdaq and Intercontinental Exchange, the parent company of the New York Stock Exchange, struck deals with digital asset venues to merge equities with blockchain tokenization.

Nasdaq is building a framework to let publicly listed companies issue blockchain-based versions of their shares while preserving traditional ownership rights and governance, and it plans to distribute those tokenized stocks globally with Payward, the parent company of Kraken.

The offering could go live as soon as the first half of 2027. Days earlier ICE revealed a strategic investment in OKX at a $25 billion valuation, a deal that includes plans to launch tokenized stocks and crypto futures and tap OKX’s 120 million user base.

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