FTX-linked fintech Perpetuals (PDC) plans tokenized stock trading under SEC framework
Summary
Nasdaq-listed Perpetuals.com, led by former FTX Europe chief Patrick Gruhn, filed notice to launch a U.S. tokenized-stock marketplace under the SEC’s five-year innovation exemption. It would be the second such proposal after OKXICE’s. The framework requires tokenized shares to preserve shareholder rights, including voting and dividends, and allows companies 30 days to object. Perpetuals plans to operate through subsidiary Kephas, using permissioned automated-market-maker pools initially on its Ethereum-compatible Kronos X Public network, with stock tokens paired against USDC. Launch could occur in mid-November at the earliest, subject to compliance, market-data arrangements and smart-contract reviews. No launch date is set.
