Perpetuals targets US tokenized equities under SEC innovation framework
Perpetuals said tokenized equities could give users access to round-the-clock trading, near-instant settlement and fractional stock ownership on blockchain rails, while retaining dividend and voting rights.
Perpetuals.com is preparing to bring tokenized US equities to its platform under the SEC’s five-year Innovation Exemption framework for onchain trading of National Market System stocks.
The fintech firm announced the plan on Wednesday alongside a notice of intent to rely on the SEC’s temporary exemption for Tokenized Securities Venues.
The planned offering would extend Perpetuals’ tokenization business beyond Europe to the US. Perpetuals CEO Patrick Gruhn said its US expansion would allow the company to make further use of its platform and tokenization expertise.
Perpetuals’ founding team launched regulatory-approved tokenized stocks in 2021, helping platforms such as Binance, FTX and Bittrex offer 24-hour stock trading. The team also developed pre-IPO contracts for companies including Coinbase, Airbnb and Robinhood.
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The company recently struck a deal with Datavault AI to list tokenized real-world asset programs targeting more than $328 million in combined issuance across three programs. The agreement covers five programs tied to gold, copper, geothermal energy and critical minerals, with rollout expected in phases.