The world of finance is no stranger to seismic change, but rarely do so many titans move at once. In a transformation that’s been years in the making, Wall Street’s biggest players, global banks, and a crop of innovative tech companies are all racing to bring blockchain technology into the heart of traditional markets. The result? A new era of tokenized securities, 24/7 trading, and real-time settlement that could upend decades-old systems and redraw the boundaries between old money and new tech.
On January 19, 2026, the New York Stock Exchange (NYSE) made headlines by announcing the development of a blockchain-based platform for trading tokenized securities, pending regulatory approval. According to reporting from FinTax, this new platform isn’t just a digital add-on—it’s a ground-up reimagining of how stocks, bonds, and other assets can be traded. The NYSE’s vision is ambitious: a 24/7 marketplace with instantaneous settlement (known as T+0), stablecoin-based funding, and the ability for investors to buy fractional shares—imagine purchasing just $50 worth of Apple stock instead of shelling out for a whole share.
Meanwhile, Nasdaq, the other giant of U.S. equities, has charted a different course. In September 2025, it submitted a proposal to the Securities and Exchange Commission (SEC) to allow tokenized securities within its existing systems. If approved—potentially by late third quarter 2026—Nasdaq’s approach would let investors choose between traditional and blockchain-based settlement, all without changing the core trading experience. Nasdaq’s digital assets chief Matt Savarese told FinTax, “Investors can choose to hold stocks in tokenized form on the blockchain, or stick with traditional accounts. The underlying security remains identical.” For now, Nasdaq’s system will keep the current T+1 settlement cycle, meaning trades settle the next business day, and won’t offer round-the-clock trading.
These diverging paths reflect deeper strategic differences. NYSE’s model is a bold leap—an independent, parallel marketplace designed to harness all of blockchain’s disruptive potential. With features like stablecoin settlement (now possible thanks to the 2025 GENIUS Act, which set federal rules for stablecoins), instant settlement, and non-stop trading, the NYSE is betting that the future of finance lies in breaking free from traditional limitations. Tokenized stockholders will enjoy the same rights as any other investor, including dividends and voting, ensuring that these aren’t just synthetic assets but full-fledged securities on-chain.
Nasdaq, on the other hand, is hedging its bets. By integrating tokenization into its existing infrastructure, it’s offering investors a choice rather than a mandate. This approach minimizes disruption, reduces regulatory risk, and appeals to institutions wary of wholesale change. As FinTax put it, it’s like adding a digital ledger option at a familiar bank branch, rather than opening a brand-new digital bank next door. Nasdaq’s strategy is to be a fast follower, ready to scale up as regulatory and operational hurdles are cleared.
It’s not just the exchanges making moves. On February 9, 2026, UBS, one of Europe’s largest banks, confirmed plans for a gradual expansion into crypto trading and tokenized financial services. As reported by MarketBeat, CEO Sergio Ermotti said the bank is building systems to offer crypto access for individual clients and tokenized deposit solutions for corporate customers. UBS’s journey has been cautious; after years of skepticism about cryptocurrencies like Bitcoin, it’s now focusing on “tokenization”—using blockchain to issue and manage traditional financial products. In 2022, UBS issued a $50 million tokenized note, and by November 2025, it had executed a live tokenized fund transaction using Chainlink infrastructure. UBS has also explored tokenized money market funds on Ethereum, giving clients blockchain-based access to low-risk, short-term assets. The bank’s aim is to be a “fast follower,” adopting proven models once regulatory and operational risks are better understood.
For investors, these developments open up new ways to gain exposure to blockchain’s growth without directly holding volatile cryptocurrencies. According to MarketBeat, stocks like Core Scientific, Figure Technology Solutions, and Globant have become key vehicles for this trend. Core Scientific provides digital asset mining services in North America, operating both mining and hosting segments. Figure Technology Solutions is building blockchain-powered platforms for lending, trading, and investing, while Globant delivers a suite of digital services worldwide, including blockchain, cloud, cybersecurity, and artificial intelligence. These companies saw the highest trading volumes among blockchain stocks in early February 2026, reflecting the market’s growing appetite for blockchain-linked equities.
So, why now? The regulatory environment has shifted dramatically. In July 2025, the GENIUS Act became the first U.S. federal law to regulate stablecoins, requiring full dollar reserves and regular disclosures. This legal clarity removed a key barrier for institutions like NYSE to use stablecoins for settlement. Then, in January 2025, a presidential executive order explicitly supported responsible growth in digital assets and blockchain technology. The SEC responded by forming a crypto task force to focus on digital asset issuance, trading, and custody—a clear signal that regulators are moving from “enforcement-first” to “rules-first” oversight.
This policy shift is already reshaping the market. Institutional investors, once wary of regulatory ambiguity, now see compliant, blockchain-based platforms as credible entry points. As FinTax notes, the NYSE’s move effectively “upgrades the entire asset tokenization sector’s credibility,” potentially accelerating the flow of institutional capital into tokenized assets. Real-time settlement and 24/7 trading promise to make markets more efficient, reducing counterparty risk and compressing trading cycles. At the same time, the rise of on-chain liquidity and programmable compliance could transform everything from margin models to market structure.
Of course, challenges remain. Integrating legacy trading systems with blockchain is no small feat—issues like blockchain throughput, interoperability, and smart contract security loom large. Regulatory fragmentation is another risk, as the SEC and Commodity Futures Trading Commission (CFTC) continue to clarify their respective turf. And let’s not forget the human element: shifting decades-old habits among institutional investors, compliance teams, and risk managers will take time. Even the promise of “never-closing” markets brings new volatility and risk management questions.
Looking ahead, the next 18 months will be crucial. Nasdaq’s tokenization platform could launch by late Q3 2026, and the Depository Trust Company (DTC)—America’s securities settlement backbone—will pilot its own tokenization scheme in mid-2026. In the medium term, tokenized asset volumes are expected to surge, and the roles of market makers and compliance providers may be fundamentally redefined. Over the long haul, some experts predict a shift from institution-based regulation to “protocol regulation,” with code itself becoming the standard-bearer for compliance.
From Wall Street’s leafy origins in 1792 to today’s digital frontier, the story of American finance has always been one of adaptation. As the lines between traditional and digital markets blur, those who can navigate the regulatory, technological, and cultural crosscurrents will shape the next chapter—a chapter where the ledger is on the blockchain, and the closing bell might never ring.