A major stock exchange is rolling out a digital trading platform with 24/7 operational capacity and tokenized trading capabilities. The question now is whether this signals a shift toward native digital token issuance for equities—and more critically, which blockchain infrastructure would support such a move. Would they leverage existing Layer 1 networks like Ethereum, emerge onto specialized chains, or establish their own proprietary blockchain? The technical architecture choice here determines everything: settlement speed, interoperability, liquidity fragmentation, and regulatory compliance.