Here is why Nasdaq and owner of NYSE are putting the $126 trillion equity market on blockchain

The race for the "everything exchange" makes Wall Street operators and crypto exchanges rivals and partners at the same time. What to know : Two of the most powerful stock exchange operators, the Nasdaq and ICE, partnered with major crypto exchanges to create and trade tokenized versions of traditional stocks on blockchains. These alliances reflect a broader push toward an "everything exchange," in which all asset classes trade on a shared blockchain infrastructure. Tokenized equities remain small today but could transform how the $126 trillion global stock market trades and settles. The race for that prize makes incumbents and crypto firms rivals and partners at the same time.