**24X National Exchange Files for Tokenized Stock Trading with SEC**
24X National Exchange has submitted a formal proposal to the Securities and Exchange Commission seeking approval to trade tokenized versions of stocks and ETFs on a regulated platform. The filing, submitted June 11, would enable trading of tokenized Russell 1000 stocks and major index ETFs with clearing and settlement through the Depository Trust Company’s existing pilot program.
The move follows Nasdaq’s recent approval for similar tokenization infrastructure, signaling growing acceptance of blockchain-based trading mechanisms within traditional market structures. For international retail traders, tokenized equities could provide extended access to US markets outside conventional trading hours without relying on offshore platforms. The technology promises faster settlement and improved asset portability between platforms, though the front-end trading experience is expected to remain familiar for most users.
CEO Dmitri Galinov emphasized the initiative supports expanding market access, with the exchange now entering the SEC review process.
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FXnCO Insight
** Brokers serving international retail clients should monitor this proposal closely, as approval could accelerate competition in extended-hours US equity access and reshape clearing workflows industry-wide.
Source: Finance Magnates