Binance founder Changpeng “CZ” Zhao has weighed in on the New York Stock Exchange’s plan to launch a tokenized securities platform, calling the move bullish for the crypto industry.
Other industry leaders, including Ripple executive Reece Merrick, have also pointed to the announcement as a potentially transformative moment for digital assets.
CZ Reacts to NYSE’s Tokenized Securities Push
In a post on X, CZ said the NYSE’s initiative to introduce a tokenized securities platform is bullish for both crypto and crypto exchanges.
Earlier in the day, the NYSE revealed it is developing a platform that will enable the trading and on-chain settlement of tokenized securities, subject to regulatory approval.
According to the exchange’s announcement, the platform will support 24/7 trading of stocks and equities, including crypto-related stocks such as Circle’s CRCL, with near-instant settlement. It will also allow stablecoin-based funding, enabling investors to trade tokenized assets directly using stablecoins.
The NYSE further indicated the potential for multi-chain collaboration, noting that its blockchain-powered post-trade infrastructure will be designed to support multiple blockchains for settlement and custody.
This development follows earlier reports that the U.S. Securities and Exchange Commission was exploring the possibility of allowing on-chain stock trading alongside crypto assets.
In parallel, the SEC has advanced proceedings that could enable tokenized securities trading on Nasdaq. If approved, Nasdaq’s initiative would also pave the way for round-the-clock trading of other crypto-related stocks, including Coinbase’s COIN, Strategy’s MSTR, and Robinhood’s HOOD.
Echoing CZ’s optimism, market analyst Adam Livingston also described the NYSE’s announcement as bullish, suggesting it could drive a significant increase in Bitcoin demand in the coming period.
“Big” News for the Crypto Industry
Ripple executive Reece Merrick described the NYSE’s tokenization initiative as “big” in a post on X, highlighting its potential to reshape traditional markets.
He noted that the proposed platform would enable 24/7 trading of stocks and ETFs, support fractional ownership, and deliver near-instant settlement through tokenized capital.
Galaxy Digital’s Head of Research, Alex Thorn, echoed this sentiment, calling the move a “big and important step” for both traditional finance and crypto markets.
According to Thorn, the true breakthrough for tokenized equities lies in self-custody, blockchain-based settlement, peer-to-peer transfers, and, most notably, seamless access to decentralized finance.
“The meaningful enhancement to equity securities offered by tokenization is access to DeFi. Clearing firms and exchanges being able to interact with tokenized stocks is an important closing of the loop,” Thorn said.
The momentum around tokenized securities is not limited to traditional exchanges. Leading crypto platforms, including Coinbase, are also actively exploring ways to offer tokenized stocks, signaling growing convergence between TradFi and DeFi.
Meanwhile, commenting on the stalled CLARITY Act, Robinhood CEO Vlad Tenev pointed out that stock tokens are already available to Robinhood customers in the European Union, but not yet in the company’s home market.
He argued that the disparity underscores the need for regulatory progress, adding that it is time for the United States to take the lead in shaping crypto policy.