NYSE Owner ICE Partners with tZERO to Build Tokenized Securities Infrastructure
ICE sits 31% above its 52-week low of $121.79 on light trading volume (0.1× avg).
Summary
ICE is partnering with blockchain firm tZERO to build transfer-agent and broker-dealer infrastructure for its upcoming NYSE-affiliated digital trading platform. ICE will also invest in tZERO's latest funding round and license its 103 blockchain patents, though the investment size was not disclosed. This follows ICE's March selection of Securitize as a digital transfer agent, and the two firms are currently in a patent dispute. The move deepens ICE's push into tokenized securities, a market Citi estimates could reach $5.5 trillion by 2030. The partnership is subject to regulatory approval, with tZERO expected to become an approved digital transfer agent and platform subscriber.
At the time of this announcement, ICE was trading at $159.22 on NYSE in the Finance sector, with a market capitalization of approximately $89.4B. The 52-week trading range was $121.79 to $177.76. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: CryptoProwl.