Kraken and Crypto.com deals signal Wall Street’s shift toward blockchain trading rails

ambcryptoОпубликовано 2026-03-09Обновлено 2026-03-09

Введение

Recent partnerships between major financial infrastructure firms and crypto companies signal a significant shift toward integrating blockchain technology with traditional capital markets. Broadridge Financial Solutions has integrated Crypto.com into its NYF-weight: 400;">FIX order-routing network, enabling institutional brokers to route crypto orders through the same FIX-based infrastructure used in global markets. Separately, Nasdaq and Payward (Kraken) are developing an infrastructure gateway using the xStocks tokenized equity framework to link regulated equity markets with decentralized blockchain networks. These developments reflect growing institutional demand for digital asset access within established compliance and operational frameworks. Together, they highlight the broader trend of tokenization and the convergence of traditional financial systems with blockchain-based trading and settlement layers.

Partnerships announced today between major financial infrastructure firms and crypto companies point to a growing convergence between traditional capital markets and blockchain-based trading systems.

Broadridge Financial Solutions said it has integrated Crypto.com into its NYFIX order-routing network.

This allows institutional brokers connected to the platform to route crypto orders through the same FIX-based infrastructure widely used in global financial markets.

Separately, Nasdaq and Payward announced plans to develop an infrastructure gateway linking tokenized equity markets with decentralized blockchain networks. The initiative will use the xStocks framework, a tokenized equities system associated with Kraken.

Together, the developments highlight how traditional trading infrastructure is beginning to integrate crypto-native assets and blockchain settlement layers.

Crypto orders move into institutional routing networks

Under the Broadridge partnership, Crypto.com becomes the first cryptocurrency trading connection in Asia on the NYFIX network. NYFIX is a global connectivity system used by more than 2,200 buy- and sell-side institutions.

The integration allows market participants already connected to NYFIX to route crypto orders directly to Crypto.com. It uses the FIX protocol, the industry-standard messaging system for institutional trading.

For brokers and trading firms, the move reduces operational friction by enabling crypto transactions to flow through the same infrastructure used for equities, derivatives, and other traditional assets.

Broadridge said the integration reflects increasing demand from institutional clients seeking access to digital assets while maintaining established compliance and operational frameworks.

Nasdaq explores tokenized equities infrastructure

At the same time, Nasdaq and Payward are developing an equities transformation gateway to connect regulated capital markets with blockchain networks.

The project centers on xStocks, Kraken’s tokenized equity framework, which has already recorded more than $25 billion in transaction volume since launch.

Under the planned architecture, tokenized equities could move between permissioned institutional markets and permissionless decentralized networks.

It enables investors to access blockchain-based financial systems while preserving regulatory compliance and issuer rights.

Nasdaq said its tokenized equity design is expected to become operational beginning in the first half of 2027.

Tokenization gains momentum in capital markets

Both announcements reflect a broader trend in which financial infrastructure providers are adapting their systems to support digital assets and tokenized securities.

Traditional markets have historically relied on broker networks, exchanges, and clearinghouses that settle transactions through centralized intermediaries.

Blockchain-based systems enable programmable assets, faster settlement, and interoperability across financial platforms. It allows securities and digital assets to interact within a shared technological framework.

As more infrastructure providers explore tokenization and blockchain connectivity, integrating traditional financial rails with decentralized networks could be a step toward more globally accessible, continuously operating markets.

Final Summary

  • Partnerships involving Kraken, Crypto.com, Nasdaq, and Broadridge highlight growing efforts to integrate blockchain infrastructure with traditional trading systems.
  • The initiatives reflect a broader push toward tokenized assets and interoperable capital markets linking regulated institutions with decentralized financial networks.

Связанные с этим вопросы

QWhat is the significance of Broadridge integrating Crypto.com into its NYFIX network?

AThe integration allows over 2,200 institutional brokers connected to the NYFIX network to route cryptocurrency orders through the same FIX-based infrastructure used for traditional assets, reducing operational friction and meeting institutional demand for digital asset access within established compliance frameworks.

QWhat project are Nasdaq and Payward (Kraken) collaborating on, and what is its key feature?

ANasdaq and Payward are developing an equities transformation gateway using Kraken's xStocks framework. The key feature is that it will connect regulated capital markets with decentralized blockchain networks, allowing tokenized equities to move between permissioned institutional markets and permissionless decentralized networks.

QHow does the Broadridge-Crypto.com partnership benefit institutional brokers and trading firms?

AIt benefits them by enabling crypto transactions to be processed through the same FIX protocol infrastructure they already use for equities, derivatives, and other traditional assets, thereby streamlining operations and reducing complexity.

QWhat is the xStocks framework and what milestone has it achieved?

AxStocks is Kraken's tokenized equity framework. It has already processed over $25 billion in transaction volume since its launch.

QWhat broader trend in capital markets do these partnerships represent?

AThey represent a broader trend of financial infrastructure providers adapting their systems to support digital assets and tokenized securities, aiming to integrate traditional financial rails with decentralized networks for more globally accessible and interoperable markets.

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