Galaxy Digital has become the first Nasdaq-listed company to tokenize its SEC-registered shares on the blockchain, partnering with Superstate to launch tokenized GLXY shares on Solana through the Opening Bell platform.

This pioneering effort uses Superstate’s platform, where a SEC-registered transfer agent records ownership updates on-chain in real time as tokens transfer between wallets, ensuring legal compliance.

The initiative demonstrates Solana’s practical utility for institutional equity applications and reinforces Galaxy’s leadership in blockchain-driven capital markets, setting a precedent for regulated tokenized securities.

The market for tokenized stocks has expanded significantly in 2025, growing 380% since 2022 to a total value of about $341 million, reflecting increasing adoption and interest.

This effort allows stockholders to tokenize their shares, enabling transfer and holding within crypto wallets, with potential liquidity benefits through DeFi platforms like Automated Market Makers.

The partnership ensures SEC-registered shares are traded on-chain with full shareholder rights, legal ownership, transparency, and near-instant settlement, all compliant with SEC regulations.

This move aligns with broader efforts to modernize equity markets, improve efficiency, and position tokenized shares as a model for future blockchain-based securities.

Other firms, including Upexi, are exploring similar tokenization projects, and proposals are underway to the SEC for frameworks to bring traditional stocks onto the blockchain.

The trend is expanding, with platforms like Backed Finance tokenizing over 60 companies, including Netflix, Meta, and Nvidia, across multiple blockchains such as Solana, BNB Chain, Tron, and Ethereum.

Galaxy’s CEO Mike Novogratz emphasized that the project aims to bridge traditional equities with crypto’s transparency, programmability, and scalability, utilizing Solana’s fast settlement for around-the-clock transfers.

Unlike synthetic derivatives, Galaxy’s tokenized shares provide direct ownership rights, are legally equivalent to regular shares, and are supported by real-time ownership updates and KYC-verified transfers.

Superstate CEO Robert Leshner considers this initiative a milestone for industry-wide adoption of tokenized assets, supporting broader development of scalable blockchain solutions for public companies.