Galaxy Digital has partnered with Superstate to launch tokenized public shares ($GLXY) on the Solana blockchain.
This marks the first time a public company’s SEC-registered equity has been tokenized directly on a major public blockchain.
A step to create an on-chain capital market
The initiative is a significant step towards creating an on-chain capital market that combines the regulatory compliance of traditional equities with the speed, transparency, and efficiency of blockchain technology.
Previously, the concept of tokenized stocks often involved derivatives or synthetic representations. The Galaxy and Superstate partnership, however, is different. The tokens represent the actual Galaxy Digital Class A Common Stock, complete with all the rights and privileges that come with traditional equity ownership. Superstate, acting as the SEC-registered transfer agent, ensures that legal ownership is recorded on-chain in real-time as tokens are transferred between verified participants. This process maintains full compliance while introducing the benefits of a decentralized ledger.
Broader potential
By tokenizing their shares on Solana, Galaxy Digital aims to unlock new possibilities for investors and the broader market. The tokenized shares offer 24/7 market potential and near-instant settlement, addressing some of the long-standing inefficiencies of traditional financial markets.
Mike Novogratz, CEO of Galaxy, stated that the goal is to “bring the best of crypto—transparency, programmability, and composability—into the traditional world.” This model is designed to be scalable, not just for Galaxy, but for the market as a whole,
according to the press release.
The collaboration also includes plans to explore how these tokenized public equities could trade on Automated Market Makers (AMMs) and other decentralized finance (DeFi) platforms, subject to regulatory approval. This forward-looking approach reflects a growing trend of major financial players not only entering the crypto space but also actively building the infrastructure for a tokenized future. The partnership is a testament to the increasing institutional confidence in blockchain as a foundation for next-generation financial systems.
Source: https://coinidol.com/tokenized-public-shares-solana/
