Key Insights:
- Crypto giant Galaxy Digital partnered with Superstate to enable stockholders tokenize and hold GLXY shares on-chain.
- The firm to tokenize its Nasdaq-listed GLXY and TSX-listed GLXY shares on Solana network.
- RWA market valuation increased for $27.82 billion, with tokenized stock accounting for $337.94 million.
Crypto infrastructure firm Galaxy Digital on Wednesday said it has partnered with fintech firm Superstate.
Stockholders can now tokenize and hold GLXY shares on-chain, initially on Solana network.
Galaxy Digital sets a milestone to become the first public company to tokenized its SEC-registered equity directly on a blockchain. Experts believe other public companies would follow to tokenized their stocks.
Galaxy Digital Tokenizes its GLXY Stock on Solana
Nasdaq-listed Galaxy Digital to tokenize its own SEC-registered shares directly on Solana in a partnership with Superstate, per official announcement on September 3.
The firm to tokenize its Nasdaq-listed GLXY and TSX-listed GLXY shares on the public blockchain. It makes the company to start tokenization of SEC-registered shares, pushing real-world asset (RWA) to another level.
Superstate enables direct tokenization of companies’ stocks with its Opening Bell platform. Unlike xStocks, these are class A common stock with all the rights.
Mike Novogratz, founder and CEO of Galaxy Digital, said the partnership brings traditional capital market on-chain. He added:
Benefits of Stock Tokenization On-Chain
The tokenization of GLXY shares on Solana enables investors 24/7 trading, liquidity boost, and near-instant settlement. Blockchains technology to add its speed, transparency, and efficiency features to traditional equities trading.
In addition, Galaxy Digital and Superstate will further explore trading tokenized public equities thorough automated market makers (AMM) in a regulated environment.
GLXY tokenized shares will be available for approved KYC’d investors. It means investors who can hold and transfer these tokenized stocks within their crypto wallets.
The RWA on-chain accounts for $27.82 billion, with tokenized stock worth $337.94 million as of writing. Solana is the 3rd largest in terms of stock tokenization, after Algorand and XRP Ledger.
Solana had recorded a significant increase in tokenized asset activity. The protocol reached nearly $500 million in value locked as per data at the time of writing.
Solana’s high-performance infrastructure is designed specifically for tokenizing real-world assets (RWA) at scale.
GLXY Stock Jumps Over 1%
Galaxy Digital (GLXY) stock price jumped 1.20% to $24.45 on Wednesday. The stock closed 2.85% higher on $24.16 on Tuesday.
As per Yahoo Finance, GLXY stock fell 10% amid the uncertainty in the broader crypto market. The stock has rallied nearly 5% year-to-date 2025, with tokenization likely boosting its stock price in the future.
Meanwhile, Robinhood met with the U.S. SEC’s Crypto Task Force to discuss regulation of crypto assets on September 2. Robinhood talked about on trading tokenized securities and non-security crypto assets, with implications for tokenizing traditional securities such as stock and ETFs.
According to ETF expert Nate Geraci many major brokerages would seek to expand crypto-related offerings.
Recently, Kraken and Bybit launched tokenized stocks on Solana as the path toward regulatory acceptance has become less restrictive under the current U.S. administration. The SEC has taken a different stance toward the crypto industry compared to its previous administration.
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