Nasdaq-listed cryptocurrency company Galaxy Digital has entered the tokenization sector and has chosen the Solana (SOL) network for this purpose. Galaxy Digital has launched an initiative to tokenize SEC-registered stocks directly on a major blockchain, according to an announcement by the company. Galaxy Digital's shares were tokenized on Solana for the first time today, making Galaxy the first Nasdaq-listed company to tokenize its shares on Solana. Accordingly, Galaxy Digital has begun issuing its Solana-based tokenized stock, GLXY. Shareholders will now be able to tokenize their GLXY shares on OpeningBell, the blockchain platform of asset management firm Superstate. Galaxy's tokenized shares will be available to approved KYC investors who can hold and transfer them in their own cryptocurrency wallets. Unlike general tokenized shares, these shares are not derivatives or synthetic, but rather real shares that protect shareholders' rights. Mike Novogratz, founder and CEO of Galaxy Digital, said in a statement: “We are proud to work with Superstate to lay the foundation for an on-chain capital market that combines traditional stocks with next-generation infrastructure. Our goal is to create a tokenized stock that brings the best of cryptocurrencies – transparency, programmability, and composability – to the traditional world. And we are involved in building a scalable model not only for Galaxy, but for the broader market.” *This is not investment advice. Continue Reading: Galaxy Digital Breaks Ground! Chose This Altcoin for Its New Giant Initiative!
