He ran the NYSE, now he's putting it on a blockchain, with Michael Blaugrund, VP at ICE

Michael Blaugrund, Vice President at ICE and former NYSE COO, at publication

2026-03-06 · Marc Baumann and Sangam Bharti

Michael Blaugrund discusses how tokenization could change equity markets and the infrastructure supporting them. Topics include the NYSE's proposed platform, trading availability, tokenized deposits and the relationship between decentralized finance and regulated markets. The episode presents a market operator's view of the work required to connect these systems. Its launch expectations and longer-term forecasts should be read against the March 2026 publication date.

In this conversation

• Tokenized equity markets
• Trading and settlement infrastructure
• Regulated markets and DeFi

Listen on the original episode page →

The public feed contains an audio preview. Full listening and access options are available on the original episode page.

Watch the conversation on YouTube →

Chapters

1. 00:00 — The Future of Trading: Tokenization at NYSE
2. 01:16 — Challenges in Equity Markets and Solutions through Tokenization
3. 08:46 — Understanding NYSE's Tokenization Platform
4. 14:59 — Layer Zero and Blockchain Innovations
5. 21:15 — Decentralization vs. Regulation in Blockchain
6. 23:39 — Tokenizing US Treasuries vs. Equities
7. 26:01 — The Role of DeFi in Future Markets
8. 28:31 — Transformative Potential of Tokenized Deposits
9. 32:54 — Investing in Prediction Markets: The Polymarket Case
10. 35:24 — Looking Ahead: ICE's Strategic Focus
11. 37:04 — Preparing for the Future of Capital Markets

Chapter labels and timestamps follow the publisher’s episode notes.