Bullish, Alpaca and Apex Fintech form coalition to push issuer-backed tokenized stocks
The group aims to link onchain shares to official shareholder records following the U.S. SEC's innovation exemption for tokenized stock trading.
Bullish (BLSH), Equiniti, Alpaca, Apex Fintech Solutions and DriveWealth have formed a new industry group focused on building standards for tokenized securities that remain directly tied to the companies that issue them.
The Issuer Sponsored Token Coalition, unveiled on Thursday, was convened by CoinDesk parent company Bullish and Equiniti, a shareholder-services and market-infrastructure firm that is being acquired by the crypto platform.
The group said they plan to work on technical standards, settlement, custody and ways to move securities between traditional market infrastructure and blockchain networks.
“The architecture we establish now matters and that is why we are bringing together this group of leading firms to chart the course,” said Tom Farley, CEO of Bullish.