The New York Stock Exchange (NYSE) is focused on integrating blockchain technology into existing market infrastructure rather than replacing it, according to chief product officer Jon Herrick.

The exchange is “striving for interoperability” and “building on top of what exists,” as it explores how tokenized assets could function within current systems, Herrick said.

That approach reflects a broader stance on market evolution. “You have to be mindful of the inherent good things of the market that has developed up to now … it’s this balance of both things,” he said on stage at the Digital Asset Summit in New York on Thursday, referring to the need to preserve elements like regulation, clearing systems and investor protections.

Rather than framing blockchain as a replacement for traditional finance, Herrick described a model where both systems merge. “It really isn’t about one side being more right than the other … [they] should, I think, in time, come together.”

His comments come as exchanges, asset managers and banks test tokenization, which allows assets like stocks and funds to be represented on blockchain systems. Advocates argue the model could enable faster settlement, round-the-clock trading and broader global access to markets.