Securitize Shares Rise After U.S. Regulators Approve Tokenized Stock Trading on Some Platforms
Federal regulators have greenlit the issuance of tokenized U.S. stocks on select trading platforms, according to CNBC, sending shares of Securitize higher.
Shares of Securitize surged on Thursday after federal regulators approved the issuing of tokenized stocks on some trading platforms in the United States, according to a report by CNBC.
The report did not specify which regulatory body issued the approval or which trading platforms would be permitted to offer tokenized versions of U.S. equities. Tokenized stocks are digital representations of traditional shares that are recorded and traded using blockchain technology.
Securitize, a company involved in tokenizing financial assets, saw its stock price rise following the news, CNBC reported. The company has been positioned in the emerging market for digital asset tokenization, which allows traditional securities to be represented and traded on blockchain-based systems.
Further details about the scope of the regulatory approval, the specific platforms involved, and the timeline for implementation were not immediately available. CNBC's report did not include additional comment from Securitize or regulators regarding the decision.
The development comes amid broader industry interest in tokenization as a mechanism for modernizing how traditional financial assets, including equities, are issued and traded.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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