Galaxy Digital is now the first publicly traded company on the Nasdaq that tokenized its shares on a blockchain. The firm announced that it partnered with financial technology company Superstate to launch tokenized GLXY shares on the Solana network.
Galaxy Digital’s Tokenized Shares Bring Real Equity Rights and Future DeFi Potential
Based on the press release, the development marks the first time an SEC-registered public equity has been placed on a major blockchain. Shareholders can now convert and hold Galaxy Digital’s Class A common stock as tokens using Superstate’s Opening Bell platform.
Superstate acts as the SEC-registered transfer agent. Hence, the company and Superstate are exploring how these shares could eventually be integrated into Automated Market Makers in a regulatory-compliant way. If approved, this would allow broader liquidity and participation across decentralized finance platforms. This is similar to how World Liberty Financial’s USD1 stablecoin on Solana is expanding blockchain utility.
For now, tokenized GLXY shares are available only to verified investors who pass identity checks. These investors can hold and transfer shares within their crypto wallets. Galaxy confirmed that only tokens issued under its official Solana contract address are legitimate. The move reflects Galaxy Digital’s wider strategy of supporting blockchain innovations.
Executives Hail Tokenization as Milestone for Capital Markets
Mike Novogratz, Galaxy Digital’s founder and CEO, said the move sets the foundation for capital markets that link traditional equities with digital infrastructure. He stressed that tokenized equity could bring benefits like faster settlement and 24/7 market potential. This move also aligns with Galaxy’s joint initiative with Jump and Multicoin to raise $1 billion for a Solana treasury.
Robert Leshner, CEO of Superstate, called the launch a milestone for financial markets. He also said it shows how onchain infrastructure can upgrade equity systems by enabling instant shareholder updates whenever tokens are transferred. With regulatory approvals growing, tokenized equities such as Galaxy Digital have the potential to redefine how investors gain access and transact publicly issued shares globally.
Galaxy Stock Responds Tokenization News
According to TradingView data, the stock of Galaxy Digital currently trades at $24.16, a 2.85% increase over the previous day from $23.49. The tokenization announcement added impetus as the shares went up by $0.67 in session.
GLXY has also performed well in various periods. The Galaxy Digital stock has increased by 82.75% in the past six months and is up by 37.27% since the beginning of the year. Galaxy has had its shares increase within the past year by 112.30%. This indicates that more investors have become confident in its involvement in digital finance.
The company has provided a 544.27% gain within five years. This development supports the notion that Galaxy has placed itself at the core of blockchain innovation.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
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Source: https://coingape.com/galaxy-digital-becomes-first-company-to-tokenize-shares/