April 12, 2026 – One basis point on a $44 trillion market. That tiny fraction explains why NYSE just handed Securitise the keys to Wall Street’s blockchain future.
The New York Stock Exchange has a new blockchain partner. NYSE tapped Securitise as its first digital transfer agent on March 24, 2026. The BlackRock-backed firm will help design the exchange’s new Digital Trading Platform. It will mint blockchain-native stocks and ETFs, pending regulatory sign-off.
The deal is not just a partnership. It is a structural bet on how capital markets operate. NYSE parent Intercontinental Exchange (ICE) wants 24/7 trading and near-instant settlement. Both features are common in crypto markets. Neither exists in today’s stock market.
Why One Basis Point Matters
Think about scale. The NYSE oversees roughly $44 trillion in market capitalisation. One basis point (0.01%) on that figure equals $4.4 billion. Even a tiny fee slice across tokenised equities becomes transformational at scale. Securitise earns fees across the full lifecycle, issuance, trading, and ongoing servicing.
$300T total real-world assets, Benchmark analysts cite as Securitise’s addressable market
Analyst Mark Palmer at Benchmark called Securitise a “picks and shovels” play on tokenisation. He issued a Buy rating with a $16 price target. Revenue of $178 million by the end of 2026 is the key milestone. The company’s own projections target $110 million for 2026, a 59% increase from 2025.
This reflects an evolution of NYSE’s capabilities from trading floor, to electronic order-book, to blockchain.
— Michael Blaugrund, VP of Strategic Initiatives, Intercontinental Exchange
Revenue Trajectory
The numbers behind Securitise are striking. Revenue for the first nine months of 2025 hit $55.6 million, up 841% year-over-year. Full-year 2024 revenue was $18.8 million. Assets under management sit at $4 billion. The 2026 target is $9 billion in AUM.
The company controls roughly 70% of the U.S. tokenisation market. It manages BlackRock’s BUIDL fund the largest tokenised money-market fund globally. BUIDL holds approximately $2 billion across eight blockchains, including Ethereum and Solana.
Assets Under Management Growth
Settlement: The Hidden Revolution
Instant settlement is not a minor upgrade. Markets moved from T+2 to T+1 in 2024. That was a multi-year regulatory effort. NYSE’s blockchain platform targets T+0. For retail investors, capital is freed immediately. For institutions, counterparty risk shrinks significantly.
Market Opportunity vs. Current Scale
Nasdaq is also moving. The SEC recently approved a Nasdaq pilot for tokenised securities. Nasdaq also partnered with Talos to manage tokenised collateral. Both exchanges are racing. The question is, who builds the standard first?
Securitise’s CEO, Carlos Domingo, drew a clear line. Most competing products, he told the WSJ, are “derivatives or price trackers.” The Securitise-NYSE model issues actual blockchain-native securities. Holders get full voting rights and dividends.
Path to Public Markets
Securitise is preparing its own public debut. It plans to merge with Cantor Equity Partners II (CEPT), a Cantor Fitzgerald-backed SPAC. The deal values Securitise at $1.25 billion. After the merger, shares trade on Nasdaq under the ticker SECZ. A $225 million PIPE will fund growth.
Blue-chip partners include BlackRock, Apollo, Hamilton Lane, KKR, and VanEck. The fee model is recurring; assets serviced generate income for as long as they remain tokenised. That creates a durable revenue floor as adoption widens.
Tokenisation will not replace traditional markets overnight. Regulatory approvals, custody standards, and broker-dealer integration still take time. But the NYSE-Securitise partnership marks a turning point. For the first time, the world’s largest exchange is building the rails, not studying them.
