Galaxy Digital to tokenize its SEC-registered shares on Solana in key RWA move

Nasdaq-listed crypto firm Galaxy Digital has launched an initiative to tokenize its "SEC-registered equity directly on a major blockchain," according to an announcement on Wednesday. Effective today, stockholders can now tokenize their GLXY shares through Superstate's Opening Bell platform.

Galaxy's tokenized shares and future listings on Opening Bell could be made available via Automated Market Makers and other DeFi platforms to unlock broader liquidity and utility, according to Wednesday's release. Galaxy's tokenized shares will be available to approved KYC'd investors who can hold and transfer them within their own crypto wallets.

Superstate unveiled Opening Bell in May to bring SEC-registered equities onchain, starting with Solana. While several projects are working on bridging public equities with blockchain infrastructure, Opening Bell says it's the first to offer direct issuance and trading of SEC-registered public shares onchain, rather than synthetic or wrapped versions.

"We're proud to be working with Superstate to help lay the groundwork for an onchain capital market that bridges traditional equities with next-generation infrastructure," Galaxy founder and CEO Mike Novogratz stated in the release. "Our goal is a tokenized equity that brings the best of crypto – transparency, programmability, and composability – into the traditional world. And we're taking part in building a model that can scale, not just for Galaxy, but for the market more broadly."

Last month, Galaxy said it was exploring tokenization of its GLXY shares and had engaged with Superstate to help manage the initiative.

"This is the first instance of a Nasdaq-listed company being tokenized on a major public blockchain," said Superstate CEO Robert Leshner. "When tokens change hands, the registered shareholder list of Galaxy updates in real-time. Financial markets are undergoing a massive upgrade with Superstate."

In an April letter to the U.S. Securities and Exchange Commission's Crypto Task Force, Superstate was among several firms to propose an SEC-backed framework  to bring Wall Street stocks to the blockchain.

In June, Solana treasury firm Upexi said it plans to tokenize public shares via Opening Bell.