Galaxy Digital Tokenizes Nasdaq Shares on Solana in RWA Milestone
- Galaxy Digital Launches GLXY Tokenized Shares on Solana
- Investors will be able to trade SEC-registered stocks on-chain
- Tokenization brings liquidity and transparency to the capital markets
Galaxy Digital, a Nasdaq-listed cryptocurrency company, announced the tokenization of its GLXY shares directly on the blockchain, in partnership with Superstate. The initiative is being implemented through the Opening Bell platform, launched in May, and marks the first time that SEC-registered shares are issued and traded natively on a major public network, starting with Solana.
With this move, shareholders can tokenize their holdings and hold them in KYC-approved cryptocurrency wallets, as well as trade on DeFi platforms and Automated Market Makers. The goal is to unlock additional liquidity and expand the utility of traditional shares within the on-chain infrastructure.
Mike Novogratz, founder and CEO of Galaxy, highlighted the relevance of the partnership:
"We are proud to work with Superstate to help lay the foundation for an on-chain capital market that unites traditional equities with next-generation infrastructure. Our goal is a tokenized equities that brings the best of cryptocurrencies—transparency, programmability, and composability—to the traditional world."
According to Superstate, this integration automatically updates the list of registered shareholders in real time each time the tokens are traded. Robert Leshner, CEO of Superstate, stated: "This is the first time a Nasdaq-listed company has been tokenized on a major public blockchain. Financial markets are undergoing a major upgrade with Superstate."
The project is part of a broader effort to bring traditional market assets into the blockchain ecosystem, a concept known as RWA (Real World Assets). In a letter sent to the SEC in April, Superstate had already advocated for a regulatory framework to integrate Wall Street stocks into public blockchains.
Stock tokenization is also attracting other companies. In June, Solana's treasury Upexi announced similar plans to utilize the Opening Bell platform. These moves reinforce the advancement of tokenization as a bridge between traditional finance and the cryptocurrency universe, with the potential to increase the efficiency and accessibility of capital markets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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