New York Stock Exchange steps into the crypto market, NFTs

The New York Stock Exchange is stepping into the NFTs market with schemes to do for digital assets what it does for stocks. In a regulatory filing with the US Patent and Trademark Office, the NYSE said that it intends to be a financial exchange for cryptos and NFTs that would compete with the likes of Rarible Inc. and OpenSea. Dated February 10, the filing indicated plans for NYSE-branded crypto and a marketplace to sell, buy and trade NFTs.

The NYSE, in a statement, said it has no immediate plans to introduce NFT or crypto trading but regularly considers new products and their impact on our trademarks and safeguards our intellectual property rights accordingly. Last year, the exchange minted its first NFTs, memorializing noteworthy initial public offerings including that of Snowflake Inc., Spotify Technology SA, Roblox Corp, and Unity Software Inc.

Author: Diksha Khiatani

A writer by day and a reader at night. Emerging from an Engineering background, Diksha is a travel freak and anxious to explore different cultures and religions. Inclined towards the off-beat places, she wishes to uncover the secrets on her Scooty (if possible). She always grabs some time to take a quick nap, listen to music, skating and eat a brownie.

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