Bullish and Equiniti Launched Token Coalition

The new coalition aims to develop technical standards for tokenized securities in U.S. capital markets.

Updated on Sept. 24, 2026 in Investing

Bullish and Equiniti Launched Token Coalition

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Bullish and Equiniti have formed the Issuer Sponsored Token Coalition to create standards for tokenized securities. The group, which includes Alpaca, Apex Fintech Solutions, and DriveWealth, intends to ensure these assets interoperate with traditional capital markets.

Why it matters

The coalition seeks to scale tokenized securities while maintaining the critical relationship between issuers and their shareholders. By standardizing market infrastructure, the group hopes to integrate digital asset trading into existing financial frameworks.

Bullish agreed to a $4.2 billion acquisition of Equiniti to be completed in January 2027. The SEC Innovation Exemption granted on September 17 allows for limited onchain trading of U.S.-listed equities over a five-year period.

The players

Bullish

Bullish is a global digital asset exchange that provides liquidity and trading services.

Equiniti

Equiniti is a specialist in technology-led shareholder services and pension administration.

U.S. Securities and Exchange Commission

The U.S. Securities and Exchange Commission is the federal regulatory body responsible for protecting investors and maintaining fair markets.

New York Stock Exchange

The New York Stock Exchange is one of the world's largest stock exchanges based in New York City.

The details

The coalition plans to convene at the New York Stock Exchange to initiate product prototyping and pilot programs. Founding members are working to establish operating frameworks that allow tokenized assets to function effectively within regulated market environments.

September 17, 2026: The SEC issued an Innovation Exemption.
September 24, 2026: The Issuer Sponsored Token Coalition was announced.
October 27, 2026: Coalition members will meet at the New York Stock Exchange.
January 2027: The Bullish acquisition of Equiniti is expected to close.

Market Landscape

This move capitalizes on the regulatory opening provided by the U.S. Securities and Exchange Commission's Innovation Exemption. It positions the participating firms to lead the development of standardized infrastructure as traditional markets increasingly explore blockchain integration.

Investors may eventually see increased access to tokenized versions of U.S.-listed equities through their existing brokerage platforms. These standards aim to simplify the process for shareholders to maintain their rights while utilizing digital asset infrastructure.

The takeaway

The formation of this coalition suggests that major financial players are prioritizing the technical standardization of tokenized assets. Investors should monitor how these pilot programs evolve to understand the future accessibility of digital-native equities.