Perpetuals.com joins race to build U.S. tokenized stock marketplace

The U.S. market for blockchain-based versions of stocks is gaining another prospective operator. Nasdaq-listed Perpetuals.com is pursuing a tokenized stock marketplace under a new framework from the Securities and Exchange Commission, according to the information available for this report.

A second entrant

Perpetuals.com is the second company to pursue a U.S. tokenized stock marketplace under the SEC framework. Its entry follows a joint venture involving crypto exchange OKX and ICE, the parent company of the New York Stock Exchange.

Tokenized stocks are designed to represent stock exposure through blockchain-based tokens. A marketplace built for these assets would bring together the trading model associated with equities and the infrastructure used by digital assets. The companies entering this area are therefore operating at the intersection of traditional markets and blockchain technology.

Why the framework matters

The SEC framework is central to the development because it provides the regulatory basis under which these proposed marketplaces are being pursued. Rather than launching outside the U.S. market structure, the companies identified in the report are seeking to operate within the newly available framework.

The sequence also shows that the opportunity is attracting both digital-asset and established-market participants. OKX brings the profile of a crypto exchange to the effort announced with ICE, while Perpetuals.com represents a separate Nasdaq-listed company pursuing the same broad market opportunity.

An early-stage market

The development does not, by itself, establish how many tokenized stocks will be available, when either marketplace will launch, or how the venues will serve investors. Those details are not included in the available information. For now, the key development is the emergence of a second company seeking to build a U.S. venue for tokenized equities under the SEC’s new framework.

Source: Coindesk