Galaxy Digital opens stock tokenization! Collaborating with Superstate to put GLXY on-chain, and will integrate AMM and DeFi applications in the future.
Galaxy Digital today (3) announced that starting today, shareholders can tokenize their GLXY stock through Superstate's Opening Bell platform. (Background: S&P Dow Jones plans to tokenize the S&P 500 and Dow Jones Industrial Average, as Wall Street moves towards the on-chain era) (Supplementary background: Japanese financial giant SBI plans to establish an equity tokenization platform, laying out a full-chain ecosystem for stocks, bonds, and ETFs) Digital asset management company Galaxy Digital today (3) announced that starting today, shareholders can tokenize their GLXY stock through Superstate's Opening Bell platform. Galaxy Digital emphasized that this marks the first time a publicly listed company has directly tokenized its stock registered with the SEC on a major blockchain, opening a new chapter in the integration of traditional finance and blockchain technology. CEO Mike Novogratz: Combining traditional stocks with next-generation infrastructure Galaxy Digital further noted that existing tokenized stock products often rely on wrapping or synthetic models, and typically do not involve the issuer, which presents certain limitations. In contrast, Superstate collaborates directly with companies to convert SEC-registered stocks into tokens. These tokens are not derivations or mere representative assets, but true Class A common shares of Galaxy Digital, with full shareholder rights. As an SEC-registered transfer agent, Superstate can instantly record legal ownership on the blockchain during token transfers, ensuring transaction transparency and efficiency. Additionally, to further expand the application of tokenized stocks, Galaxy and Superstate are actively exploring how to trade tokenized stocks through Automated Market Makers (AMM) while complying with regulatory standards. They envision that under regulatory compliance, Galaxy's tokenized stocks and other future listings on the Opening Bell platform may be traded through AMM and Decentralized Finance (DeFi) platforms, releasing broader liquidity and utility for investors and issuers. However, it is important to note that investors wishing to participate in Galaxy's tokenized stock trading must undergo KYC verification before being able to hold and transfer these tokens in their crypto wallets. Efficiency and liquidity: Upgrading traditional markets Stock tokenization will bring three changes. First, trading will no longer be restricted by traditional exchange operating hours and can occur seven days a week, around the clock, while also reducing time costs and counterparty risks. Second, tokenized stocks, once integrated into automated market makers and decentralized finance protocols, will release greater liquidity for global investors. Third, smart contracts on the blockchain will make dividend distribution and voting rights management more convenient and automated, providing rich imaginative space for financial product innovation. In this regard, Galaxy Digital founder and CEO Mike Novogratz pointed out: Our goal is to create a tokenized stock that combines the advantages of cryptocurrencies: transparency, programmability, and composability, integrating into the traditional financial world. Superstate CEO Robert Leshner also added: This is the first case of a Nasdaq-listed company tokenizing on a major public blockchain, and the financial market is undergoing a large-scale upgrade through Superstate. What is Opening Bell? Opening Bell is a blockchain platform developed by Superstate, aimed at bringing SEC-registered public stocks to the blockchain for tokenization and trading. The platform made its debut this May, choosing the Solana blockchain as its technological foundation. Through Opening Bell, investors can hold and transfer tokenized stocks on the blockchain, enjoying the transparency, fast settlements, and 24/7 trading potential brought by blockchain technology. The platform also plans to explore integration with automated market makers (AMM) and other decentralized finance (DeFi) platforms to enhance the liquidity and utility of shares, providing innovative solutions for the integration of traditional finance and blockchain technology. Related reports European ESMA warns that "tokenized stocks" are too risky: Digital certificates lack shareholder rights; will this hinder innovation in Taiwan? Financial giant SBI collaborates with Chainlink: Advancing Japan's RWA tokenization with CCIP Ondo will launch Ondo Global Markets on 9/3, first listing hundreds of tokenized stocks. This article was first published in BlockTempo, the most influential blockchain news media.
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Galaxy Digital opens stock tokenization! Collaborating with Superstate to put GLXY on-chain, and will integrate AMM and DeFi applications in the future.
Galaxy Digital today (3) announced that starting today, shareholders can tokenize their GLXY stock through Superstate's Opening Bell platform. (Background: S&P Dow Jones plans to tokenize the S&P 500 and Dow Jones Industrial Average, as Wall Street moves towards the on-chain era) (Supplementary background: Japanese financial giant SBI plans to establish an equity tokenization platform, laying out a full-chain ecosystem for stocks, bonds, and ETFs) Digital asset management company Galaxy Digital today (3) announced that starting today, shareholders can tokenize their GLXY stock through Superstate's Opening Bell platform. Galaxy Digital emphasized that this marks the first time a publicly listed company has directly tokenized its stock registered with the SEC on a major blockchain, opening a new chapter in the integration of traditional finance and blockchain technology. CEO Mike Novogratz: Combining traditional stocks with next-generation infrastructure Galaxy Digital further noted that existing tokenized stock products often rely on wrapping or synthetic models, and typically do not involve the issuer, which presents certain limitations. In contrast, Superstate collaborates directly with companies to convert SEC-registered stocks into tokens. These tokens are not derivations or mere representative assets, but true Class A common shares of Galaxy Digital, with full shareholder rights. As an SEC-registered transfer agent, Superstate can instantly record legal ownership on the blockchain during token transfers, ensuring transaction transparency and efficiency. Additionally, to further expand the application of tokenized stocks, Galaxy and Superstate are actively exploring how to trade tokenized stocks through Automated Market Makers (AMM) while complying with regulatory standards. They envision that under regulatory compliance, Galaxy's tokenized stocks and other future listings on the Opening Bell platform may be traded through AMM and Decentralized Finance (DeFi) platforms, releasing broader liquidity and utility for investors and issuers. However, it is important to note that investors wishing to participate in Galaxy's tokenized stock trading must undergo KYC verification before being able to hold and transfer these tokens in their crypto wallets. Efficiency and liquidity: Upgrading traditional markets Stock tokenization will bring three changes. First, trading will no longer be restricted by traditional exchange operating hours and can occur seven days a week, around the clock, while also reducing time costs and counterparty risks. Second, tokenized stocks, once integrated into automated market makers and decentralized finance protocols, will release greater liquidity for global investors. Third, smart contracts on the blockchain will make dividend distribution and voting rights management more convenient and automated, providing rich imaginative space for financial product innovation. In this regard, Galaxy Digital founder and CEO Mike Novogratz pointed out: Our goal is to create a tokenized stock that combines the advantages of cryptocurrencies: transparency, programmability, and composability, integrating into the traditional financial world. Superstate CEO Robert Leshner also added: This is the first case of a Nasdaq-listed company tokenizing on a major public blockchain, and the financial market is undergoing a large-scale upgrade through Superstate. What is Opening Bell? Opening Bell is a blockchain platform developed by Superstate, aimed at bringing SEC-registered public stocks to the blockchain for tokenization and trading. The platform made its debut this May, choosing the Solana blockchain as its technological foundation. Through Opening Bell, investors can hold and transfer tokenized stocks on the blockchain, enjoying the transparency, fast settlements, and 24/7 trading potential brought by blockchain technology. The platform also plans to explore integration with automated market makers (AMM) and other decentralized finance (DeFi) platforms to enhance the liquidity and utility of shares, providing innovative solutions for the integration of traditional finance and blockchain technology. Related reports European ESMA warns that "tokenized stocks" are too risky: Digital certificates lack shareholder rights; will this hinder innovation in Taiwan? Financial giant SBI collaborates with Chainlink: Advancing Japan's RWA tokenization with CCIP Ondo will launch Ondo Global Markets on 9/3, first listing hundreds of tokenized stocks. This article was first published in BlockTempo, the most influential blockchain news media.