The New York Stock Exchange and Intercontinental Exchange have jointly launched an imaginative project—the 24/7 tokenized stock and ETF trading platform. The core innovation of this platform lies in integrating the traditional exchange's matching mechanism with blockchain on-chain settlement capabilities.

From a functional perspective, several highlights are worth noting. First is support for fractional holdings, allowing investors to buy as much or as little as they want without having to purchase a full lot of shares. Second is the option to trade stablecoins, which makes cross-border capital flows more convenient. Additionally, the 24/7 continuous trading feature completely breaks the time restrictions of traditional exchanges—trading can continue on weekends and holidays.

The introduction of on-chain settlement means that final transaction confirmation no longer relies on traditional clearing systems, significantly improving settlement efficiency and transparency. However, the project is currently awaiting regulatory approval, which is a crucial step for the innovation to be fully implemented. This attempt essentially represents a new direction for the migration of traditional financial markets onto the blockchain.