TXSE will target companies in the southeastern quadrant of the United States. The infusion of $120 million in capital provides the necessary financial backing and signals significant industry endorsement.
By Godfrey Benjamin
Edited by Julia Sakovich
Updated
3 mins read
In a bold move to reshape the landscape of financial trading, BlackRock Inc (NYSE: BLK) and Citadel are looking to float a new national stock exchange set to launch in Texas. Dubbed the Texas Stock Exchange (TXSE), Chairman and CEO James Lee said the Dallas headquartered company has successfully raised $120 million with the support of over two dozen investors.
The initiative aims to establish a more CEO-friendly trading environment amidst increasing regulatory pressures faced by traditional exchanges like the New York Stock Exchange (NYSE) and Nasdaq. Also, the project promises to offer a novel platform that prioritizes the needs and concerns of company executives.
Dallas provides an advantageous environment for this new initiative, given its strategic location and increasing economic impact. Per the information on TXSE’s website, the initiative aims to establish a fully electronic, nationwide securities exchange and intends to register with the United States Securities and Exchange Commission. Notably, TXSE will start trading in 2025 and the listing will be hosted in 2026.
According to media reports, TXSE will target companies in the southeastern quadrant of the United States. The infusion of $120 million in capital provides the necessary financial backing and signals significant industry endorsement. Likewise, the financial boost is expected to accelerate the development and launch of the exchange, positioning TXSE as a formidable competitor to the established giants of Wall Street.
Meanwhile, Texas has set a new standard in academia. Unchained, prominent US-based financial services and Bitcoin (BTC) custody company announced a partnership with the University of Austin to create a ground-breaking endowment fund held in BTC. The fund involves raising $5 million, which will be invested solely in BTC for a minimum of five years.
As per the announcement, the company said that the partnership aims to integrate Bitcoin into higher education and explore other innovative financial strategies.
In 2022, Indonesia launched its crypto stock exchange. According to Jerry Sambuaga, the Deputy Minister of Trade in Indonesia, creating a regulated digital asset platform is part of the country’s strategy to protect consumers amid the increased interest in cryptocurrencies.
As many as 25 local companies that handle cryptos bagged initial listing on the Indonesia crypto stock exchange. All of them obtained licenses from the country’s top financial regulatory body, the Commodity Futures Trading Regulatory Agency (also known as Bappebti).
With blockchain solutions gaining global traction, Israel’s Tel Aviv Stock Exchange (TASE) also launched a blockchain platform to enhance peer-to-peer securities lending. The TASE announced an innovative financial technology solution with the launch of a Central Blockchain Securities Lending Platform, the first ever in Israel. With the lending platform, TASE provides a single national market where Israeli institutions can lend securities directly to one another.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
