Update
Nasdaq-Listed Fintech Company Plans Tokenized U.S. Stocks Trading
A Nasdaq-listed fintech company, Perpetuals.com, headed by Patrick Gruhn, plans to operate a tokenized securities venue under the SEC's five-year 'innovation exemption.' The exemption allows certain marketplaces to trade U.S. stocks on public blockchains without registering as traditional securities exchanges. Perpetuals.com is the second company to pursue a marketplace under the exemption, following OKXICE, a joint venture between crypto exchange OKX and NYSE parent Intercontinental Exchange (ICE). The company already provides trading technology for Perpetual Markets MTF, a Cyprus-based marketplace licensed under Europe's MiFID II framework. Trading would take place through permissioned automated market maker (AMM) liquidity pools on Kronos X Public, an Ethereum-compatible layer-2 blockchain developed by the company.