Galaxy Digital Tokenizes Stock on Solana

Galaxy Digital, a Nasdaq-listed crypto company, has launched a plan to directly tokenize its SEC-registered shares and deploy them on a major blockchain. Starting today, shareholders can tokenize their GLXY shares through Superstate's Opening Bell platform.

The announcement states that Galaxy's tokenized shares, along with future listings on Opening Bell, could provide broader liquidity and utility through automated market makers (AMMs) and other DeFi platforms. Galaxy's tokenized shares will be available only to accredited investors who have passed Know Your Customer (KYC) screenings, who will be able to hold and transfer the tokens in their own crypto wallets.

Superstate launched Opening Bell in May of this year, aiming to bring SEC-registered stocks to the blockchain, with Solana as its primary platform. While several projects have attempted to integrate public equities with blockchain infrastructure, Opening Bell claims to be the first platform to offer direct issuance and on-chain trading of SEC-registered public stocks, rather than synthetic or wrapped versions. (The Block)