TL;DR
- Perpetuals.com plans to offer tokenized U.S. stocks under the SEC’s five-year Innovation Exemption after publishing notice of its intent to use the framework.
- The proposed equities would retain dividend and voting rights while adding 24/7 trading, fractional ownership and near-instant blockchain settlement for eligible users.
- Launch remains conditional on the applicable 30-day period, technical implementation and SEC compliance, with no initial stock list, blockchain network or final start date announced.
Perpetuals.com plans to offer tokenized U.S. equities through the Securities and Exchange Commission’s five-year Innovation Exemption framework, extending its European tokenization business into the American market. In an October 14 company update, the Nasdaq-listed fintech said it published a notice of intent to rely on the temporary exemption for Tokenized Securities Venues. The plan creates a regulatory pathway for blockchain-based U.S. stock trading, but launch still depends on the applicable 30-day period, technical implementation and compliance with SEC conditions. The initiative sits within the broader shift toward real-world asset tokenization.
Perpetuals Targets Regulated 24/7 Stock Trading
Perpetuals says its proposed equities would preserve dividend and voting rights while offering 24/7 trading, fractional ownership and near-instant settlement on blockchain rails. The company is targeting tokenized representations of actual securities rather than instruments that merely track stock prices. That distinction is central to the SEC’s tokenized-equity framework, where preserving economic and governance rights attached to underlying shares remains a key compliance boundary. The proposed structure aligns with SEC guidance on tokenized NMS stocks, which has pushed participants toward products designed to retain conventional shareholder rights while changing trading and settlement infrastructure.
The U.S. initiative builds on technology developed by the Perpetuals leadership team in Europe. CEO Patrick Gruhn and colleagues previously built regulated stock-tokenization infrastructure that supported exchange offerings and pre-IPO contracts before that business changed ownership. Perpetuals says its current platform combines regulated market infrastructure with digital-asset technology and plans to apply that experience to U.S. equities. The company is positioning its prior tokenization work as the operational foundation for entering an American market rather than starting with an experimental blockchain product. Its move follows other firms pursuing tokenized securities venues under the Innovation Exemption.
Timing remains conditional. The company says its notice was published around October 14, and trading could only begin after the required waiting period and satisfaction of the exemption’s conditions. The announcement does not identify an initial stock list, blockchain network or final launch date, and its forward-looking statement highlights regulatory developments, technical implementation, market conditions and user adoption as risks. Perpetuals is therefore targeting a U.S. tokenized-stock market rather than announcing that one has already gone live. If the project advances, it would enter a field of regulated tokenized U.S. equity platforms seeking to connect shareholder rights with blockchain-based execution and settlement.
