BlackRock-backed Securitize and Computershare are bringing parts of the US stock market worth $70 trillion on-chain via tokenized shares, in a move that pushes traditional Wall Street infrastructure closer to blockchain rails.
The agreement allows listed companies to add tokenized equity – called Issuer-Sponsored Tokens (ISTs) – to existing shares, giving investors the option to hold shares through traditional systems or in a digital wallet.
The effort is part of a broader effort to make tokenized stocks work within current market rules while providing new ways to hold and move assets, from portfolio-based ownership to faster settlement. Transfer agents such as Computershare are at the center of that system, maintaining shareholder information and handling corporate transactions.
By integrating at that layer, the companies want to avoid a common cryptocurrency solution, where tokens represent claims on shares rather than the shares themselves.
Securitize is a blockchain-based company that enables real-world assets such as stocks and funds to be issued, traded and managed in tokenized form on blockchain networks.
Blockchain meets transfer agents
Under the setup, Computershare will act as a transfer agent for tokenized shares, just as it does for traditional shares. That includes managing records and processing events like dividends or stock splits in both formats.
Securitize provides the underlying technology, but like other recent efforts in this area, the blockchain component is largely in the background. The tokens are designed to represent direct ownership, rather than derivatives on top of existing shares.
“ISTs do not rely on derivatives tokens sitting on top of underlying stocks,” said Carlos Domingo, CEO of Securitize. “They offer U.S. issuers the opportunity to create direct equity ownership in token form.”
Computershare’s reach could make the effort scalable. The company serves more than 25,000 companies and acts as a transfer agent for approximately 58% of the S&P 500.
The structure also ensures that issuers maintain control over their shareholder base, an important requirement for publicly traded companies. “Our focus has been to enable U.S. public companies to issue tokenized equity while maintaining control,” said Ann Bowering, CEO of Issuer Services at Computershare North America.