Exodus, a self-custodial crypto platform, has announced a partnership with Superstate aimed at tokenizing the company's shares. The first wave of tokens will launch on the Solana blockchain.
Partnership between Exodus and Superstate
On Friday, August 8, Exodus announced its collaboration with Superstate for stock tokenization. Exodus will issue stock tokens that represent its Class A shares.
Expansion to Other Blockchains
The initial tokenized stocks will launch on the Solana network, with plans to expand to other major public blockchains, including Ethereum and Algorand. Exodus intends to leverage Superstate's Open Bell platform for further token issuance.
Benefits of Stock Tokenization
Exodus's tokenized shares will digitally represent ownership of the stocks and serve as a record of legal ownership on the blockchain, facilitated by Superstate's SEC registration as a transfer agent.
The partnership between Exodus and Superstate represents a significant step toward asset tokenization and the future of digital finance.
