Galaxy Digital has become the first US-listed company to enable the tokenisation of its SEC-registered equity directly on a public blockchain. The initiative, developed in partnership with tokenisation platform Superstate, enables shareholders to convert their Class A common stock into tokenised form on the Solana blockchain.
Previous on-chain equity products have typically relied on synthetic tokens or wrapped assets issued without the involvement of the underlying company. In this case, the tokens represent Galaxy’s actual SEC-registered shares. Superstate, acting as the SEC-registered transfer agent, records ownership on-chain and updates the shareholder register as transfers occur between approved wallets.
Shareholders can tokenise their holdings through Superstate’s Opening Bell platform. Only investors who have completed know your customer (KYC) verification can transfer the shares, which settle between self-custodial wallet
Mike Novogratz, founder and CEO of Galaxy, commented: “We’re proud to be working with Superstate to help lay the groundwork for an onchain capital market that bridges traditional equities with next-generation infrastructure.
“Our goal is a tokenised equity that brings the best of crypto – transparency, programmability, and composability – into the traditional world. And we’re taking part in building a model that can scale, not just for Galaxy, but for the market more broadly.”
Pioneering on-chain capital markets
By maintaining full regulatory compliance while leveraging the inherent benefits of blockchain technology, Galaxy and Superstate aim to create a scalable model for other public companies to follow.
“This is the first instance of a Nasdaq-listed company being tokenised on a major public blockchain. When tokens change hands, the registered shareholder list of Galaxy updates in real-time. Financial markets are undergoing a massive upgrade with Superstate,” Robert Leshner, CEO of Superstate, also added.
Galaxy and Superstate are also examining potential regulatory-compliant trading models, including the use of automated market makers (AMMs).