Perpetuals.com Files Plan for Tokenized U.S. Stock Venue
The Nasdaq-listed fintech says trading could start in mid-November, pending technical, market-data and compliance preparations.
Key takeaways
- Perpetuals.com filed notice of plans for a tokenized U.S. stock trading venue.
- Trading could begin in mid-November at the earliest, subject to preparations.
Nasdaq-listed Perpetuals.com has filed notice that it plans to operate a venue for tokenized U.S. stocks under the SEC’s five-year innovation exemption. The company is the second to pursue a marketplace under the framework, after OKXICE.
The exemption allows certain marketplaces to trade U.S. stocks on public blockchains without registering as traditional securities exchanges. Tokens must carry the same shareholder rights as ordinary shares, including voting and dividend rights.
Trading could start in mid-November at the earliest, a company spokesperson told CoinDesk. The launch depends on technical and compliance preparations, including market-data arrangements and smart-contract security reviews.
The venue would be operated by Kephas Corporation, a Perpetuals subsidiary, using permissioned liquidity pools on the company’s Kronos X Public blockchain. Initially, the pools are expected to pair tokenized stocks with a form of USDC.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
