Tokenization · SEC · CoinDesk
Bullish, Alpaca and Apex Fintech form coalition to push issuer-backed tokenized stocks
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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.
Key facts
- A recent dispute between AMC Entertainment CEO Adam Aron and Robinhood highlighted that issue, centering on whether synthetic or tokenized products may leave investors with economic exposure
- Alpaca said it plans to contribute to interoperability between traditional securities and onchain markets through its Instant Tokenization Network
- The coalition said its work follows last week’s U.S. Securities and Exchange Commission exemption allowing limited onchain trading of U.S.-listed equities under certain conditions
- 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
Summary
Bullish, Equiniti, Alpaca, Apex Fintech Solutions and DriveWealth teamed up to form an industry group focused on issuer-sponsored tokenized securities. The group aims to advocate for tokenized shares to remain tied to official shareholder records, preserving voting, dividend and other ownership rights. The effort comes as brokers, issuers and regulators debate the difference between tokenized shares and synthetic products that only track prices. 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.