Perpetuals to Launch Tokenized U.S. Stocks Under SEC Innovation Exemption

Perpetuals.com Ltd is bringing tokenized U.S. equities to its platform, leveraging the SEC’s new five-year Innovation Exemption framework for onchain trading of National Market System stocks. For fintech professionals, this move signals a major shift toward 24/7 equity markets and near-instant settlement, bridging the gap between traditional regulated infrastructure and blockchain-based trading.

What was announced

Perpetuals.com Ltd has filed a notice of intent to rely on the U.S. Securities and Exchange Commission’s (SEC) temporary exemption for Tokenized Securities Venues. This five-year Innovation Exemption framework allows for the onchain trading of National Market System (NMS) stocks, effectively bringing U.S. equities into a blockchain environment. The initiative builds on the company’s existing European tokenization infrastructure and follows a recent agreement to tokenize over $300 million in physical commodities.

The offering is designed to provide traders with several key advantages over traditional market structures. These include 24/7 trading capabilities, near-instant settlement, and fractional ownership of high-value stocks. Crucially, the tokenized assets are structured so that users retain full dividend and voting rights, maintaining the core benefits of equity ownership while utilizing blockchain rails.

The founding team behind Perpetuals brings significant experience to this launch, having developed the first regulatory-approved tokenized stocks in 2021. That technology previously enabled major platforms such as Binance, FTX, and Bittrex to offer around-the-clock stock trading and provided pre-IPO contracts for companies including Coinbase, Airbnb, and Robinhood. This U.S. expansion represents a strategic move to apply that expertise within a regulated American framework, utilizing the company's proprietary AI and market infrastructure to increase transparency and accessibility for both individual users and financial platforms.

"The Perpetuals team has long been trailblazers in tokenization, and this expansion into the U.S. allows us to further utilize our platform and deep expertise,"

Patrick Gruhn, CEO of Perpetuals.

The companies involved

Perpetuals.com Ltd, which trades on the Nasdaq under the ticker PDC, is a financial technology firm that integrates proprietary artificial intelligence with regulated market infrastructure. The company’s core mission is to open global markets to a broader range of participants by providing fully compliant trading services. Its technology powers the Perpetual Markets Multilateral Trading Facility (PM MTF), operated by PM MTF Ltd. This venue operates under a comprehensive regulatory framework in Europe, maintaining compliance with MiFID II, MiCA, DORA, and EMIR.

A key component of the company’s ecosystem is its flagship consumer product, UpsideOnly. This platform is marketed as a risk-free trading and market prediction tool that utilizes a proprietary AI algorithm known as BayesShield. This patent-pending technology analyzes billions of data points to identify signals from high-performing traders, allowing eligible users to share in trading profits without risking their own capital. By offering white-label trading services, Perpetuals enables partners to launch their own branded platforms on licensed infrastructure, significantly reducing the time and capital expenditure required to enter the regulated trading space.

What FF News has reported before

FF News has closely tracked the development of Perpetuals’ regulatory and technological footprint. In August 2026, we reported that Perpetuals Secures MiCA Authorization in Cyprus to Launch Regulated EU Crypto Trading Venue, a move that solidified its position within the European Union’s emerging digital asset framework. This followed an analysis of the company's underlying technology, where the Perpetuals AI Engine Delivers 380% Hypothetical Return in Backtest for Risk-Free Trading.

More recently, the company has focused on academic and technical collaboration. In September 2026, we covered how Perpetuals and EIM Launch Joint Research Group to Advance AI Trading Models. This partnership with the European Institute of Management was established to refine the doctoral-level research supporting the company’s predictive algorithms and market models.

What this means

The entry of Perpetuals into the U.S. market via the SEC’s Innovation Exemption is a significant test for the viability of onchain equity trading in the world’s largest capital market. Applying tokenization to NMS stocks puts direct pressure on traditional clearing houses to justify legacy settlement timelines. The industry now faces a critical question: can blockchain-based venues maintain the liquidity and investor protections required by the SEC while delivering the 24/7 availability that crypto-native traders expect? This move likely forces legacy exchanges to accelerate their own digital asset strategies or risk losing volume to more agile, AI-integrated competitors.