Galaxy Digital, a cryptocurrency company listed on NASDAQ, has announced the possibility for its shareholders to tokenize their GLXY shares on the Solana blockchain.
Tokenization of Galaxy Digital Shares
In partnership with the fintech firm Superstate, Galaxy's Class A common stock can now be traded as digital tokens. This has been made possible through Superstate's Opening Bell platform, marking Galaxy as the first public company to tokenize its equity directly on a major blockchain.
How It Works
Galaxy's tokenized shares represent actual Class A Common Stock, preserving full shareholder rights. Superstate acts as the SEC-registered transfer agent, ensuring legal ownership is recorded on-chain in real-time. Tokens will be available only to verified investors who have completed KYC checks and can store and transfer the shares in their crypto wallets. Whenever tokens are transferred on-chain, Superstate updates the official ownership records.
Leadership Vision
Mike Novogratz, Founder and CEO of Galaxy, emphasized that the goal is to create tokenized equity that combines the best of crypto - transparency, programmability, and composability - with the traditional financial world. Robert Leshner, CEO of Superstate, remarked that this marks a significant step forward for financial markets, as the registered shareholder list updates in real-time.
The tokenization of Galaxy Digital shares on the Solana blockchain opens new horizons for shareholders and may transform traditional trading practices.
