Overview
- The Issuer Sponsored Token Coalition publicly launched on Thursday with founding members Bullish, Equiniti, Alpaca, Apex Fintech Solutions and DriveWealth to build common rules and tools for tokenized shares.
- The coalition's core goal is to ensure tokenized shares remain tied to a company's official shareholder register so holders keep voting, dividend and corporate‑action rights.
- The effort is grounded in the U.S. SEC's Innovation Exemption issued on September 17, which allows limited on‑chain trading of U.S. equities for a defined period provided tokens preserve equivalent shareholder rights.
- Bullish's planned $4.2 billion acquisition of Equiniti, expected to close in January 2027 pending approvals, gives the group transfer‑agent relationships and cross‑market reach that the coalition says are needed to make issuer‑linked standards practical.
- The coalition will focus on settlement, custody, interoperability and adoption infrastructure, will meet issuers and market leaders at the NYSE on October 27, and says its work could make tokenized shares clearer and safer for ordinary investors by reducing mismatches in legal rights across token products.