BlackRock and Citadel back new Texas national stock exchange

The Texas Stock Exchange (TXSE) reportedly secured around $120 million in funding and is prioritizing ETF listings, as well as aiming to offer a more competitive alternative to the two major US stock exchanges.

The world’s largest asset manager, BlackRock, and market maker Citadel Securities, have reportedly backed a firm in launching a new national stock exchange in Texas.

The Texas Stock Exchange (TXSE) has reportedly already secured approximately $120 million in funding and intends to file registration statements with the U.S. Securities and Exchange Commission (SEC) towards the end of this year, according to a June 4 Wall Street Journal report.

The pro-crypto state’s stock exchange could potentially be another alternative for crypto companies looking to go public.

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