Galaxy Digital launches GLXY -Tokenized shares on Solana

Global investment firm Galaxy Digital has joined forces with Fintech Startup Superstate to Tokenize his shares, according to a Wednesday edition. It is the first time that the shares of a Nasdaq-listed company that has been registered with the SEC have been registered on a large public blockchain.

The Superstate, founded in San Francisco, founded in 2023, builds Tokenized investment products that connect traditional finances with cryptem markets. It operates “Opening Bell”, a platform for publishing and trading sec-registered shares on blockchain networks.

Galaxy CEO Mike Novogratz, CEO of the partnership with Superstate, said that the effort is aimed at demonstrating how tokenized equity transparency and programmability can yield both for Galaxy and the market.

“Our goal is a tokenized equity that brings the best of crypto – transparency, programmability and composability – to the traditional world. And we participate in building a model that can scales, not only for Galaxy, but wider for the market,” said Novogratz.

With the initiative, the public shares of Galaxy on the chain can be managed with the help of the Openingbell platform from Superstate.

Unlike other tokenized stock offers that use wrapper or synthetic models, these tokens represent actual Galaxy Digital Class A Common Stock with full shareholder rights, the company noted. The tokenized shares retain and achieve full compliance while achieving the benefits of blockchain technology, including 24/7 market potential and near-instant setting.

Superstate acts as the sec-registered transfer agent and registers in real time legal ownership on the chain while tokens are transferred.

Investors who complete KYC verification can buy the tokenized shares of Galaxy Digital via the OpeningBell platform of Superstate. These shares, published as Solana -based tokens, can be held in personal portfolios and transferred between approved participants.

Every transfer to the chain is immediately included on the blockchain, while Superstate’s official shareholders register is updated in real time to ensure that the legal ownership is synchronized.

“This is the first instance of a Nasdaq-listed company that is token told on a large public blockchain. When tokens change owner, the registered shareholder list of Galaxy updates undergone real-time. Financial markets undergo a huge upgrade with Superstate,” said Robert Leshner, CEO of Superstate.

Galaxy and Superstate investigate the trade with regulatory trade of Tokenized public shares through automated market makers as part of the SECs Project Crypto Innovation Agenda.

Galaxy Digital started acting in May on Nasdaq under the Ticker Glxy. Novogratz said about the American market debut of the company that the team investigated the tokenization of its shares with the SEC for potential use in Defi applications.

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