New York – November 05, 2026 -- TSV LLC supported the first trades of a tokenized U.S. stock under the SEC's Innovation Exemption, with DRW Cumberland buying tokenized Canton Strategic Holdings (NASDAQ: CNTN) common stock from existing shareholder Five North on Tradecraft, the automated market maker (AMM) protocol that powers the venue.
Fairmint records tokenized CNTN shares as Flowdesk supplies liquidity
Fairmint TA LLC, an SEC-registered transfer agent, recorded the shares in token form in Five North's verified Loop Wallet. Flowdesk Liquidity Solutions LLC provided liquidity for the permissioned pool. Fairmint, which is Canton Strategic Holdings' transfer agent, also maintains the official onchain ownership record, runs the allow list of verified holders and wallets, and applies the company's transfer controls.
Holders of the tokenized shares receive the same rights and privileges as holders of CNTN stock traded on Nasdaq. TSV co-founder Ryan Trinkle said the token is issuer-sponsored and that every holder is verified before holding or trading it.
Tokenized stock value grew from $678 million to $3.15 billion in 2026
According to The Block Research, onchain value of tokenized stocks rose from about $678 million at the start of 2026 to $3.15 billion by September. The SEC issued its Innovation Exemption on September 17. It allows qualifying platforms to trade tokenized U.S. stocks through permissioned AMM pools.
TSV filed the first venue notice with the SEC on September 23
TSV, a special purpose regulatory vehicle, was the first Tokenized Securities Venue to formally notify the SEC of its intent to operate, publishing its initial notice on September 23. Canton Strategic Holdings announced its agreement with TSV on October 29. Because the company sponsored the tokenization of its own shares, the listing skipped the 30-day issuer notice-and-objection process that applies when unaffiliated parties tokenize a company's stock.
Atomic delivery-versus-payment settlement enables 24/7 trading on Canton Network
Approved participants can trade tokenized shares around the clock. Trading remains subject to regulatorily required stoppages, maintenance, risk controls and volume limits. Trades settle atomically on a delivery-versus-payment basis, so shares and payment change hands together on the Canton Network.
Participants and their wallets must clear identity verification and sanctions screening before trading, and smart contracts enforce those rules. Obsidian Software LLC developed Tradecraft, which launched in February 2026.