The New York Stock Exchange is partnering with Blockchain.com to bring online the token cryptocurrency.

Cooperation reached: Memorandum of Understanding signed

According to Bitcoin Magazine, the New York Stock Exchange (NYSE) has officially signed a Memorandum of Understanding (MoU) with crypto exchange Blockchain.com that will see both parties working together on launching token 's digital stock trading service.

According to the announcement made on Wednesday, Blockchain.com users will be able to trade a digitized version of token in stock and exchange-traded funds listed at United States ((( ETF )) through the New York Stock Exchange's Digital Alternative Trading System (DATS), if the scheme is approved by regulators.

Traditional finance continues to embrace crypto infrastructure

The partnership comes amid growing Wall Street interest in Bitcoin and its related infrastructure. Intercontinental Exchange (ICE), the parent company of NYSE, announced earlier this year that it had invested in crypto exchange OKX .

Peter Smith, executive chairman and CEO of Blockchain.com said in a statement: "People should not be restricted from owning shares because of differences in where they live, available brokerage services or information channels. Access to the NYSE's Digital Alternative Trading System will enable us to bring these investment opportunities for digital asset to tens of millions of users worldwide".

Lynne Martin, president of the New York Stock Exchange Group, expressed a similar view: "The future of emerging capital markets belongs to those institutions that combine traditional finance's trust base with digital asset 's innovation and accessibility".

token Chemical layout has already started

In fact, as early as January of this year the NYSE announced that it was building a new platform to allow traders to buy and sell United States listed stocks and an emulated version of ETF called token with round-the-clock settlement on blockchain .

Wall Street's interest in crypto companies and their infrastructure stems largely from its focus on the digitalization of assets such as stocks. Traditional financial giants like BlackRock , Franklin Templeton, and others have been using blockchain technology for monetary funds for years.

Regulatory shift to accelerate progress in the industry

Since the election of President Trump, who has taken a supportive stance on crypto-related issues, regulators have become more sympathetic to the sector and progress in this area has accelerated significantly. The Securities and Exchange Commission (SEC) last week approved token as an equity transaction.

In addition, in January this year the S&P 500 approved a new derivatives contract for Trade[XYZ] on DEX Hyperliquid , allowing traders to trade the stock index around the clock. Last month, Kraken 's parent company Payward reached an agreement with financial tech company SoFi Technologies: crypto orders from SoFi customers will be executed through Kraken .

From exchange co-operation to regulatory loosening, crypto stocks are accelerating from concept to reality, and the merger of traditional finance with the cryptocurrency industry is entering a new phase.

This article has been republished from Bitcoin Magazine by Matthew Di Salvo.