Bankless The Largest Securities Exchange in the World is Coming Onchain | Michael Blaugrund of NYSE and Carlos Domingo of Securitize
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Apr 7, 2026 
Michael Blaugrund, NYSE exec leading tokenized securities and an NYSE-affiliated ATS; Carlos Domingo, Securitize founder building regulated digital transfer agents. They discuss how issuer-backed equities could be minted on-chain, interoperable trading rails and 24/7 markets. Conversation covers custody and broker flows, whitelisting for DeFi composability, regulatory fit, and practical timelines for migration.
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Public Tokens Can Be Brought Into The ATS
- Tokenized securities issued on public chains can be moved into broker-dealer wallets and then made available on the NYSE ATS for trading.
- Michael calls the ATS an aggregator that supports interoperability and multiple compliant stablecoins for funding.
Plan For Dual Track Tokenization Adoption
- Expect tokenization to follow a dual-track: crypto-forward issuers will lead while DTC conversion of existing inventory proceeds in phases.
- Michael expects DTC to start with the Russell 1000 and that full conversion could happen in a few years.
Whitelisted Wallets Make Self Custody Compliant
- Tokenized securities can enable retail self-custody and portability but will likely be whitelisted permissioned assets with KYC.
- Carlos explains wallets are whitelisted by transfer agents; owners, not wallets, are legal holders and lost-access can be remediated.