Texas Stock Exchange backed by BlackRock and Citadel to launch in 2025

According to reports, a consortium supported by Wall Street giants BlackRock and Citadel Securities is launching a new national securities exchange in Texas - the Texas Securities Exchange (TXSE), aiming to provide a more CEO-friendly environment as people become increasingly dissatisfied with the compliance costs of Nasdaq and NYSE. Supporters of TXSE, including Citadel Securities and BlackRock, have provided significant support. These companies have previously supported other emerging exchanges, such as Members Exchange (MEMX). TXSE has raised about $120 million in financing. The company also plans to submit registration documents to the US SEC later this year, and is expected to begin operations in 2025, with plans to go public for the first time in 2026. The exchange will be fully electronic, but located in Dallas. It also plans to seek primary and dual listings, including exchange-traded products. The crypto community warmly welcomes this latest development, especially considering BlackRock CEO Larry Fink's optimistic view of the potential of Bitcoin ETFs and tokenization. (BeInCrypto)