Nasdaq Crypto Head Says Tokenized Stock Rollout Will Move Very Quickly

TLDR

• Nasdaq filed its tokenized stocks proposal with the SEC on September 8.
• Matt Savarese says Nasdaq wants to work closely and quickly with the SEC.
• Nasdaq stresses it is not changing the core investment system structure.
• The exchange aims to offer stock tokens under existing SEC rules.

Nasdaq is prioritizing regulatory approval for its proposal to launch tokenized stocks, according to its digital assets chief Matt Savarese. The company has expressed its readiness to respond quickly to U.S. Securities and Exchange Commission (SEC) inquiries as it aims to bring stock tokenization into mainstream markets without disrupting existing systems.

Nasdaq Focuses on Speed in Tokenized Stocks Proposal

Nasdaq’s head of digital assets strategy, Matt Savarese, has confirmed that the exchange is making its tokenized stocks proposal a high priority. Speaking during a CNBC interview, Savarese said the team is prepared to address all questions from the SEC in a timely manner.

“We’ll just move as fast as we can,” he stated, when asked about the timeline for regulatory approval. Nasdaq submitted the proposal on September 8 and is currently awaiting feedback during the public comment period. “We hope to kind of work with them as quickly as possible,” he added.

Savarese explained that Nasdaq’s plan is not intended to overhaul the stock market. Instead, it aims to introduce tokenization in a controlled and compliant way, keeping investor protections at the forefront.

Nasdaq Emphasizes Compliance with SEC Rules

The proposed system will allow trading of digital versions of stocks listed on Nasdaq. These stock tokens would represent real shares in public companies. However, Savarese clarified that the exchange is not trying to replace traditional equities.

“We’re not looking at upending the system,” he said. “We want everyone to come along for that ride and bring tokenization more into the mainstream.”

Nasdaq plans to introduce tokenized stocks within the existing SEC framework. This approach is intended to keep the initiative aligned with traditional financial standards, giving investors a new way to access equities without bypassing current regulations.

Industry Response Shows Divided Views

Tokenized equities have gained attention throughout 2025, with major players offering different perspectives. Galaxy Digital, led by Mike Novogratz, became the first Nasdaq-listed company to tokenize its equity. The firm launched its digital shares on the Solana blockchain earlier this year.

On the other hand, Rob Hadick from crypto venture firm Dragonfly expressed concerns about tokenized stocks’ value to the crypto sector. He argued that using layer-2 networks could draw value away from the broader blockchain ecosystem, limiting the benefit for platforms like Ethereum.

Despite mixed views, Nasdaq’s approach is focused on supporting traditional financial market structures while gradually introducing blockchain-based solutions.

Past Innovations Support Nasdaq’s Tokenization Goals

Nasdaq has positioned itself as a long-standing innovator in financial market infrastructure. Savarese noted the exchange’s historical role in leading the shift from paper-based to electronic trading systems.

Now, the exchange hopes to use that same innovation to make tokenized equities accessible in a regulated and transparent environment. “We want to do it in that responsible investor-led way first, under the SEC rules themselves,” Savarese said.

The exchange’s current priority is ensuring its system is aligned with regulatory standards and ready to scale once approval is granted.

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