Galaxy Digital has tokenized its Class A shares on the Solana blockchain, marking a first for a Nasdaq-listed company, facilitated by Superstate.
This milestone signifies a significant shift in capital markets, expanding regulated equity access, boosting liquidity, and enhancing blockchain investor engagement.
Galaxy Digital has become the first Nasdaq-listed company to tokenize its Class A shares on the Solana blockchain. This strategic move was made in partnership with Superstate, a registered SEC transfer agent, and enhances regulated equity access.
CEO Mike Novogratz led this initiative, highlighting Galaxy Digital’s innovative approach in crypto markets. By utilizing Solana’s blockchain, shareholders can now hold GLXY stock on-chain, allowing enhanced trading capabilities.
“Proud to share that @galaxyhq is the first Nasdaq-listed company to tokenize its equity on a major blockchain. Thanks to our partnership with @superstatefunds, shareholders can now hold $GLXY onchain on @solana. This is a milestone for capital markets.” — Mike Novogratz, CEO, Galaxy Digital (Cointelegraph)
The tokenization of Galaxy Digital shares offers 24/7 trading for verified investors, potentially altering financial market dynamics. This integration promises real-time shareholder record updates, benefiting both investors and the regulatory framework.
Financial markets might see a paradigm shift as Superstate’s platform facilitates compliance with SEC regulations. Solana’s involvement bolsters its ecosystem, while institutions focus on expanding DeFi protocols for real-world assets.
Exodus and Backed Finance’s xStocks have previously tokenized stocks on other blockchains, showing existing interest in blockchain-based equity solutions. Solana hosts several similar initiatives, expanding its role in tokenized markets.
Kanalcoin experts suggest the move signals a substantial shift, with legal structures aligning with new technology trends. Such advancements could lead to increased adoption of blockchain for institutional equity distribution.
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