Tokenization firm Securitize surged after a top securities regulator cleared a path for trading venues to offer tokenized stocks in the U.S.
Shares of Securitize jumped as much as 22% Thursday morning. In July, the company made its debut on the New York Stock Exchange after shareholders approved its merger with a Cantor Fitzgerald-sponsored special-purpose acquisition company.
Crypto exchange Bullish, which struck a $4.2 billion deal to buy transfer agent Equiniti to offer corporate issuers full tokenization services, also gained about 6%.
The Securities and Exchange Commission said Thursday it would exempt authorized trading venues from certain rules that have prevented trading in digital tokens that mimic shares of listed companies. The agency's so-called innovation exemptions take effect immediately and last for five years.