The Largest Securities Exchange in the World is Coming Onchain | Michael Blaugrund of NYSE and Carlos Domingo of Securitize

In this pivotal episode of Bankless, host Ryan Selkis dives into the groundbreaking partnership between the New York Stock Exchange (NYSE) and Securitize, marking a historic step toward on-chain securities trading. Michael Blaugrund of NYSE and Carlos Domingo of Securitize explain how Securitize has been named the first digital transfer agent eligible to mint blockchain-native securities on NYSE’s upcoming tokenized securities platform—an Alternative Trading System (ATS) set to launch in Q4 2026. The discussion unpacks the mechanics of tokenization, emphasizing that these are not derivatives or IOUs, but actual equity securities represented natively on public blockchains like Ethereum, Solana, and Avalanche. The platform will enable 24/7 trading, instant atomic settlement, and seamless integration with DeFi through whitelisted wallets and permissioned infrastructure. Key innovations include the ability for investors to self-custody tokenized equities, move them across brokers, and use them as collateral in lending protocols like Aave Horizon and Euler—solving long-standing inefficiencies in TradFi such as slow settlement, poor collateral mobility, and complex share transfers. The episode also addresses regulatory clarity, with both guests affirming that existing securities laws apply, and that the SEC has already approved the use of public permissionless blockchains for maintaining cap tables. Despite skepticism from some academics about public chains, the NYSE and Securitize argue that open networks foster innovation and are fully compliant when managed through regulated intermediaries. The broader vision is a future where tokenized equities unlock new utility—real-time ownership proof, dynamic shareholder engagement, and institutional-grade DeFi integration—potentially doubling the size of the crypto market with just 1–2% adoption. The episode closes with Securitize’s own upcoming SPAC merger and public listing, cementing its role as a pioneer in the real-world asset (RWA) revolution.