Nasdaq Tokenized Platform

Nasdaq has applied to the SEC for approval to permit trading of tokenized securities alongside traditional securities within its existing exchange infrastructure. Unlike NYSE's separate venue approach, Nasdaq plans to let dealers choose between tokenized or conventional settlement at the post-trade level, using a permissioned blockchain operated by DTC. Filed in September 2025, the platform targets a Q3 2026 launch and would enable seamless integration of digital and traditional securities on a unified marketplace.