Perpetuals Plans Tokenized US Stocks Under SEC Exemption

Perpetuals.com announced plans to offer tokenized U.S. stocks utilizing the Securities and Exchange Commission’s five-year Innovation Exemption, according to an Oct. 14 announcement from Perpetuals.com Ltd, which trades on Nasdaq under the ticker PDC.

The proposed offering aims to provide blockchain-based U.S. equities while preserving full dividend and voting rights for traders. According to the company, the planned launch features round-the-clock trading, near-instant settlement, and fractional ownership. The SEC framework requires qualifying stock tokens to match the rights and privileges of conventional shares and mandates that trading halt when the underlying stock pauses on its primary exchange.

Launch Conditions and Regulatory Framework

The planned expansion depends on a 30-day notice period, regulatory conditions, and technical implementation. Under the SEC's temporary exemption for Tokenized Securities Venues, trading pools must use public, auditable smart contracts on public, permissionless blockchains while maintaining permissioned access. The rules also require written notice to unaffiliated stock issuers with at least 30 calendar days for potential objections before trading begins.

Perpetuals stated that the U.S. initiative builds on its existing European tokenization platform. CEO Patrick Gruhn noted the team's past experience developing tokenized stock products and pre-IPO contracts. The announcement follows a recent agreement involving more than $300 million in physical commodities.

Key facts

• Perpetuals.com Ltd announced plans to offer tokenized U.S. stocks under the SEC's five-year Innovation Exemption.
• The proposed stock tokens are designed to provide round-the-clock trading, fractional ownership, and full dividend and voting rights.
• The launch is subject to a 30-day notice period, regulatory compliance, technical implementation, and issuer notification rules.
• The SEC exemption covers tokenized National Market System stocks traded via permissioned automated market makers and liquidity pools.
• Perpetuals operates a European-licensed platform and recently announced a tokenization agreement for over $300 million in physical commodities.