Michael Blaugrund, VP of Strategic Initiatives at ICE, joins Frank Chaparro to discuss the NYSE's plan to launch a new venue for trading tokenized equities against stablecoins.

Recorded inside the NYSE vault, a 1903 building originally equipped with air conditioning to protect paper stock certificates, the conversation explores how blockchain settlement will reshape equity markets.

Michael walks through why instant settlement is fundamentally about capital efficiency, how 24/7 trading could smooth volatility after events like the October 10th tariff announcement, and why ICE is preparing for a future where it competes with DeFi protocols as much as traditional exchanges.