TXSE could become a crypto friendly competitor of the NYSE


An upstart stock exchange known as TXSE is set to launch in Texas according to Cointelegraph, promising to be a crypto-friendly challenger to the New York-based NYSE and Nasdaq. Headquartered in Dallas, the Texas Stock Exchange (TXSE) has secured a whopping $120 million from notable backers like BlackRock and Citadel Securities. This move signals a potential shift in the corporate landscape towards regions with more favorable regulatory and tax environments, as speculated by The Wall Street Journal.

The aim of TXSE is to attract businesses from across the southeastern U.S., targeting states like Texas, Florida, and Georgia among others. However, it raises the question: do these areas need their own exchange? Moreover, this development is seen as a boon for the burgeoning blockchain and cryptocurrency sectors, suggesting a new haven for these industries.

Despite the excitement, some experts like Larry Tabb from Bloomberg Intelligence remain skeptical about its immediate impact, noting the challenges of diverging from established markets like New York. Security, market liquidity, and company prestige still heavily favor traditional exchanges, which may limit TXSE’s immediate appeal to potential listees, regardless of its innovative aspirations.

TXSE’s strategy includes enhancing its technological edge, potentially adopting blockchain capabilities that could attract crypto firms. This approach, alongside significant investment backing, positions TXSE as a notable player in the evolving landscape of U.S. stock exchanges. Whether it can truly disrupt the duopoly of NYSE and Nasdaq remains to be seen, but its inception marks an interesting development in the financial and crypto sectors.

MiEthereum is a technology publication with a focus on spotlighting founders and builders that are improving the world of technology
Recent Articles

How to Get Your First Job in Crypto