The New York Stock Exchange (NYSE) has unveiled a blockchain-based securities trading platform, integrating its Pillar matching engine with blockchain post-trade systems. This platform enables 24/7 trading and settlement of tokenized securities, supporting stablecoin funding and multi-chain custody. The move is seen as a significant step in integrating blockchain with traditional finance, sparking optimism about its impact on real-world assets (RWA) and potential benefits for infrastructure projects like Chainlink.
Meanwhile, the TroveMarkets ICO scandal has escalated, revealing a suspected rug pull where only $100,000 of the $12 million raised was refunded. Key Opinion Leaders (KOLs) involved in promoting the ICO are under scrutiny for undisclosed affiliations. The Ethos Network has imposed reputation penalties on related accounts, highlighting ongoing issues with transparency and accountability in the ICO model.
In other developments, WalletConnect has launched a POS payment product for on-chain payments, targeting offline merchant scenarios. While the product is seen as a positive step towards payment transformation, challenges remain in overcoming existing infrastructure and economic incentives. The market acknowledges the potential for cost reduction but notes that large-scale adoption will require regulatory progress and industry collaboration.
NYSE Launches Blockchain-Based Securities Platform Amidst Trove ICO Scandal
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