The New York Stock Exchange (NYSE) is focusing on integrating blockchain technology into existing market infrastructure rather than replacing it. The exchange is exploring how tokenized assets could function within existing systems and is mindful of the need to preserve elements like regulation, clearing systems and investor protections. This strategy comes as exchanges, asset managers and banks test tokenization, which allows assets like stocks and funds to be represented on blockchain systems. However, Herrick cautioned that existing systems offer valuable efficiencies that may not be easily replaced.