Galaxy Digital to allow equity holders to tokenize GLXY on Solana
|- Galaxy Digital has announced a partnership with Superstate to enable the tokenization of its SEC-registered shares on the Solana blockchain.
- Superstate will update the ownership records of tokenized GLXY on-chain after every transaction.
- Galaxy Digital noted that the move aligns with the SEC's recent Project Crypto initiative.
Galaxy Digital (GLXY) announced on Wednesday that shareholders can now begin tokenizing their Class A common stock on the Solana (SOL) blockchain.
Galaxy Digital rolls out tokenized GLXY on Solana
Crypto investment firm Galaxy Digital has tokenized portions of its stock on the Solana blockchain, according to a statement on Wednesday.
Stockholders can now tokenize their GLXY shares through Superstate's Opening Bell platform. These tokenized shares, along with future listings on Opening Bell, may also be integrated with Automated Market Makers and other DeFi platforms to expand liquidity and utility.
"We're proud to be working with Superstate to help lay the groundwork for an on-chain capital market that bridges traditional equities with next-generation infrastructure," said Mike Novogratz, founder and CEO of Galaxy.
Superstate CEO Robert Leshner claims the move is the first instance of a public company tokenizing its Securities & Exchange Commission (SEC)-registered equity directly on a blockchain.
Galaxy Digital stated that Superstate, acting as the official transfer agent, updates ownership records whenever on-chain transfers occur between verified participants.
The firm added that the move aligns with the SEC's Project Crypto initiative, announced by Chair Paul Atkins in July. The initiative is aimed at modernizing securities regulation to "enable America's financial markets to move on-chain."
The announcement comes one month after Galaxy Digital disclosed plans to tokenize its stock, which was recently listed on the Nasdaq. The company joins a growing number of crypto-focused firms that have recently adopted real-world asset (RWA) tokenization.
Tokenized RWA issuer Ondo Finance has also launched Ondo Global Markets, a platform built on the Ethereum blockchain that offers tokenized US stocks, ETFs, and traditional securities.
The platform debuted on Wednesday with over 100 equities and funds for qualified investors outside the US, with plans to expand to more than 1,000 by year-end.
It provides access to major companies like Apple and Tesla, as well as ETFs from Fidelity and BlackRock, targeting investors across Asia-Pacific, Europe, Africa, and Latin America.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.