The Texas Stock Exchange Group has secured $120 million in funding to launch the Texas Stock Exchange in 2025, with trading scheduled to begin in 2026.

The exchange, based in Dallas, aims to challenge traditional exchanges like the NYSE and Nasdaq by attracting international companies.

Governor Greg Abbott supports the initiative, positioning TXSE as a competitor in the financial sector with lower compliance costs and a favorable regulatory environment.

The exchange will not enforce diversity targets on listed companies, potentially making it easier for crypto firms to go public.

TXSE Group plans to focus on listing businesses in Texas and the southeast quadrant of the US, addressing the decline in public companies and providing an alternative for private equity-sponsored companies.

Jamie Dimon of JPMorgan Chase supports the initiative, emphasizing the importance of addressing challenges faced by companies in public markets.