Bullish, Alpaca and Apex Fintech Join Issuer‑Sponsored Token Coalition

A coalition of Bullish, Equiniti, Alpaca, Apex Fintech Solutions, and DriveWealth was announced to develop technical standards for issuer‑backed tokenized securities. The group, called the Issuer Sponsored Token Coalition, will focus on linking on‑chain shares to a company’s official shareholder register, ensuring that token holders retain voting, dividend and corporate‑action rights.

Purpose and Scope

The coalition plans to work on settlement, custody, and interoperability between traditional market infrastructure and blockchain networks. By tying tokens directly to issuer records, the initiative seeks to differentiate genuine tokenized shares from synthetic products that only track price movements.

Regulatory Context

The effort follows a recent U.S. Securities and Exchange Commission exemption that permits limited on‑chain trading of U.S.-listed equities under specific conditions. The coalition’s work is intended to align with that regulatory framework.

Member Contributions

• Bullish – convened the coalition and emphasized the importance of establishing a robust architecture.
• Equiniti – brings shareholder‑services expertise and is being acquired by a crypto platform.
• Alpaca – will contribute its Instant Tokenization Network to improve interoperability.
• Apex Fintech Solutions – offers infrastructure for broker‑dealers and aims to help connect tokenized markets with existing systems.
• DriveWealth – participates in building standards for issuer‑sponsored tokenization.

Industry Implications

By establishing clear standards, the coalition hopes to preserve shareholder rights for token holders and maintain a connection between on‑chain markets and traditional securities markets.