Galaxy Digital's $GLXY Becomes First SEC-Registered Public Equity Tokenized on Major Blockchain

A recent episode of the "On the Road" podcast, hosted by Nick Ducoff, Head of Institutional Growth at the Solana Foundation, featured Thomas Cowan, VP of Tokenization at Galaxy, discussing the groundbreaking tokenization of Galaxy Digital's shares. The discussion highlighted the innovative move by Galaxy Digital and Superstate to tokenize GLXY shares on the Solana blockchain, marking a significant milestone in the evolution of digital assets.

Galaxy Digital Inc. recently announced its partnership with Superstate to enable stockholders to tokenize and hold their GLXY shares on-chain. This initiative represents the first instance of an SEC-registered public equity being tokenized directly on a major blockchain. Superstate, acting as the SEC-registered transfer agent, ensures that legal ownership is recorded on-chain in real-time as tokens are transferred.

Mike Novogratz, Founder and CEO of Galaxy, stated, "Our goal is a tokenized equity that brings the best of crypto – transparency, programmability, and composability – into the traditional world." Robert Leshner, CEO of Superstate, added, "Financial markets are undergoing a massive upgrade with Superstate." The tokenized GLXY shares are actual Class A Common Stock, retaining all the rights of traditional shares, but now benefiting from the speed, transparency, and 24/7 market potential offered by blockchain technology.

Thomas Cowan, a leading voice in tokenization, elaborated on the transformative potential of this technology during the podcast, aligning with his previous discussions on "The Macro Case for Tokenization." He emphasized how tokenization can improve liquidity and accessibility across various markets by leveraging the efficiency and transparency of blockchain. This move by Galaxy Digital underscores a broader industry trend towards integrating real-world assets (RWA) with decentralized finance.

The tokenization on Solana, often referred to as the "Nasdaq of blockchains," leverages its high-speed settlement and efficient network. While current regulatory frameworks are still evolving, Galaxy and Superstate are actively engaging with the SEC to define a model for compliant Automated Market Maker (AMM) trading of public equities. This pioneering effort aims to bridge traditional capital markets with next-generation infrastructure, paving the way for a more open and efficient financial ecosystem.