Ex-FTX Europe Head Pursues U.S. Tokenized Stock Trading with New SEC Exemption
Perpetuals.com, led by former FTX Europe CEO Patrick Gruhn, seeks to launch a regulated tokenized stock trading platform in the U.S.
Perpetuals.com, led by former FTX Europe CEO Patrick Gruhn, seeks to launch a regulated tokenized stock trading platform in the U.S. BNB (BNB) is trading at $722.03, up 0.2% since this brief published. This is an original TLT brief synthesising 2 outlets (CoinDesk, Cointelegraph), plus live market data, as of Thu, 15 Oct 2026 09:00:05 UTC.
This development signals growing institutional interest in tokenized equities as a bridge between traditional finance and crypto markets, potentially expanding 24/7 trading access and liquidity.
- Perpetuals.com is the second firm to pursue a U.S. tokenized stock marketplace under the SEC's new framework.
- Tokenized equities market value nears $3.3 billion amid rising investor demand.
- The move follows a similar initiative by OKX and NYSE parent ICE.
CoinDesk and Cointelegraph both report that Perpetuals.com, led by former FTX Europe CEO Patrick Gruhn, is seeking to launch a regulated tokenized stock trading platform in the U.S. under the SEC's new framework. They agree this follows a similar initiative by OKX and NYSE parent ICE. However, only Cointelegraph provides the specific market value of tokenized equities, reporting it has reached nearly $3.3 billion, highlighting the growing investor interest in this asset class.
Perpetuals.com, a Nasdaq-listed company, is the latest firm to pursue a regulated tokenized stock trading platform in the U.S., following the SEC's introduction of a new regulatory framework for such offerings. The company is led by Patrick Gruhn, the former CEO of FTX Europe.
This initiative comes after a joint venture between cryptocurrency exchange OKX and NYSE parent company ICE announced a similar effort to create a regulated platform for tokenized equities. The move indicates a growing trend of traditional financial institutions and crypto firms seeking to bridge the gap between traditional markets and digital assets.
According to Cointelegraph, the market value of tokenized equities has reached nearly $3.3 billion, reflecting increasing investor demand for assets that offer round-the-clock trading beyond the traditional Wall Street hours.
The development is set against the backdrop of a broader market downturn, with the total crypto market cap at $2.79 trillion and major cryptocurrencies like 
Bitcoin and 
Solana experiencing 24-hour losses of 2.69% and 4.22% respectively. Despite this, the Fear & Greed Index remains at 53, indicating a neutral market sentiment.
The success of these initiatives could significantly impact the liquidity and accessibility of traditional equities, offering investors new opportunities for diversification and potentially reducing the gap between crypto and traditional finance.
Since this brief published about 19 hours ago, BNB (BNB) has moved from $720.41 to $722.03 — +0.22%.
The chart plots BNB's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BNB ≈ ₦985,589 (about $722.03), down 2.6% over 24 hours. The naira itself trades about 2.5% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 15, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Ex-FTX Europe Head Pursues U.S. Tokenized Stock Trading with — questions & answers
What is Perpetuals.com's plan for tokenized stock trading?
Perpetuals.com aims to launch a regulated platform for tokenized stock trading in the U.S. under the SEC's new framework.
How large is the tokenized equities market?
The market value of tokenized equities is nearly $3.3 billion, according to Cointelegraph.
Who else is involved in tokenized stock trading initiatives?
OKX and NYSE parent ICE have also announced a joint venture for a regulated tokenized stock trading platform.
How much is 1 BNB worth in naira today?
About ₦985,589 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $722.03. The naira price moves with both BNB's US-dollar price and the USDT/NGN rate; use our BNB in naira page for any amount.
Has BNB's price moved since this brief was published?
BNB is up 0.22% since this brief first published — trading at $722.03 now versus $720.41 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CoinDesk, Cointelegraph, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.