00:00 Speaker A
So, Washington’s obviously fighting over the price of money here uh with the Fed and the Treasury on opposite sides, but the operators of the world’s largest exchanges are rebuilding those markets themselves. And one of those is the London Stock Exchange right here.
00:20 Speaker A
London Stock Exchange to work with Payward to bring biggest UK stocks on chain. So, Payward is the parent company of Kraken. We’re going to continue to tell you about them later in the show as well. But Payward making absolutely monster moves right now. And the second story, I’ll break them both down.
00:38 Speaker A
Nice, the owner, ICE taps tZERO for tokenized securities push, takes stake in firm. The deal adds transfer agent and settlement infrastructure to ICE’s plans for a New York Stock Exchange affiliated market for tokenized stocks.
00:54 Speaker A
tZERO says, Okay, let’s go back to our friends over in London who lost the revolutionary war to us. Sorry that happened to you guys.
01:05 Speaker A
The London Stock Exchange partnered with Payward, Kraken’s parent company to put the 100 largest LSE listed stocks on blockchain rails. They’re going to do this through X stocks, which is the existing uh product that Kraken has. And those tokens are backed one for one by shares held in custody. Now, we know there’s a lot of ways that people are doing tokenized stocks. This is arguably the right way.
01:31 Speaker A
So obviously they’re going to you’re going to be able to trade around the clock across exchanges, self- custody wallets and on chain applications, you’ll be able to take yield and do all the things that you can do with every other asset on chain. And that’s what’s important here. This is really an innovation across the board when these assets start to be tokenized and used within Dfy. But importantly for the London Stock Exchange,
01:57 Speaker A
this could provide access to these US, UK liquid, uh, UK listed equities in more than 110 countries. Now, you got to imagine that most places on planet Earth do not have access to the companies on the London Stock Exchange, and now they will. So, this is part of their long-term plans to tokenize everything, which we’ve also seen in the United States with the DTCC talking about tokenization, and, of course, the second story, which was the New York Stock Exchange, ICE,
02:29 Speaker A
investing here in T-Zero, uh, which is also bringing them 103 blockchain patents, which might be the most valuable part of this deal.
02:40 Speaker A
As I said, T-Zero will provide transfer agent, broker dealer and settlement infrastructure for ICE’s planned tokenized security markets. And importantly, ICE has generally been exploring whether tokenized stocks can be used as collateral inside its clearinghouse. So ICE, uh Intercontinental Exchange, the company behind the New York Stock Exchange has invested in quite a few things uh over the past year in the crypto space, including, of course, OKX.
03:11 Speaker A
Did a massive deal with OKX, took a board seat and seemingly very, very interested in being involved in the future of crypto in the United States. And the future of crypto, I think, as we know, at least blockchain Rails is tokenization of everything.
