🚀 Galaxy Digital Hits Nasdaq — Next Stop: Tokenized Stocks?

Galaxy Digital launched its shares on Nasdaq.
The digital asset startup is apparently discussing tokenizing its equities with the SEC.

The business plans to tokenize its equity for DeFi lending and staking.

Galaxy Digital is in negotiations with the SEC to tokenize GLXY for DeFi integration. The news came hours after its shares floated on Nasdaq Friday.

Galaxy Digital plans to tokenize its equity after Nasdaq listing.
According to Bloomberg on Friday, Galaxy Digital is in negotiations with the SEC about tokenizing its GLXY shares. The company reportedly met with Crypto Task Force officials in March to launch its shares on blockchain.

The company wants to integrate its shares on-chain with DeFi loan, staking, and trading applications. The tokenization process intends to put fixed income and ETFs on-chain if it succeeds.

CEO Michael Novogratz said that the SEC is interested in tokenization and crypto, underlining its potential.

Working with the SEC to tokenize stocks. Crypto, tokenized networks, and technology are important to them. In a Bloomberg interview, Novogratz stated you must alter your scope for what's feasible.

Novogratz said that Galaxy's tokenization hasn't begun.

The news came hours after GLXY was listed on Nasdaq. Galaxy said on April 30 that it will float on the Nasdaq Exchange on May 16 if shareholders approved a restructuring on May 9 and the exchange gave its permission.

Previously, the company listed on the Toronto Stock Exchange in 2020.

In the previous year, BlackRock, UBS, and Franklin Templeton launched tokenized funds, showing considerable interest in asset tokenization. On Wednesday, JPMorgan finalized its first tokenized transaction on Ondo Chain's testnet. In the last month, Fidelity and Goldman Sachs announced tokenization ambitions.


SEC Chair Paul Atkins compared the change from conventional databases to blockchain ledger systems to the switch from analog vinyl records to digital software.

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