Each token is backed one-for-one by a share held through Securitize Markets, and the release's own disclosure says holders are not registered shareholders unless they convert. Trading opens in extended US hours on Solana, and the two venues the company points to next, the NYSE's 24/7 platform and the OKXICE tokenized securities venue, have not launched.
The contract has no expiry and uses funding payments between longs and shorts to track an index Kalshi calls the US 500. The exchange filed it with the CFTC in August, the reports disagree on what the agency then did, and its separate filings for perpetuals on single stocks are not trading.
Venues can trade tokenized National Market System stock without registering as exchanges, on notice rather than approval. A venue may list at most 75 Tier 1 names, a tier that takes in S&P 500 and Russell 1000 stocks, and trade no more than 0.25 percent of a name's average daily volume in the prior month.
The new UK licence adds equities and perpetual futures to Coinbase's product menu but retains the FCA's blanket ban on retail crypto derivatives. Tiger Brokers immediately lifted its price target on COIN to $200.
The operator of Switzerland's and Spain's national stock exchanges will stream real-time pricing for companies including Nestlé, Novartis, and Banco Santander through Chainlink's oracle network, making institutional-grade equity data programmable across 75 blockchains.