- Galaxy Digital has launched shares on Solana with the Superstate Opening Bell platform.
- Investors can trade shares through digital wallets as ownership records update on-chain.
- The step creates a system for regulated equity trading, full transparency, and liquidity.
Nasdaq-listed Galaxy Digital has introduced a new initiative to tokenize its SEC-registered Class A shares directly on Solana, according to a company announcement released today. Effective immediately, shareholders can tokenize their GLXY shares through Superstate’s Opening Bell platform, which operates as an SEC-registered transfer agent and records each transaction directly on the blockchain.
This development enables stockholders to transfer ownership instantly, with records updated on-chain, ensuring transparency and verifiable control of assets without the delays typical in traditional equity settlement.
Galaxy confirmed that tokenized shares will be accessible to approved, fully KYC-compliant investors, who can hold and transfer them directly within crypto wallets. This structure distinguishes itself from synthetic assets or derivatives because the tokens represent Galaxy’s actual Class A common stock. Trades conducted on the Opening Bell generate an instant record of ownership on-chain, reflecting a legally compliant and technologically advanced method of securities management.
“Our goal is a tokenized equity that brings the best of crypto—transparency, programmability, and composability—into the traditional world,” Galaxy founder and CEO Mike Novogratz said in the release. “We are taking part in building a model that can scale, not just for Galaxy, but for the market more broadly.”
The company, which was first listed on the Toronto Stock Exchange in 2018 and expanded to Nasdaq earlier this year, now holds a market capitalization of nearly $9 billion. This marks the first time a Nasdaq-listed company has tokenized SEC-registered equity directly on a public blockchain.
Regulatory Engagement and Market Impact
Galaxy and Superstate have confirmed that the initiative aligns with regulatory exploration under the SEC’s Project Crypto program. While Automated Market Maker (AMM)-based trading of securities remains under regulatory review, Galaxy’s tokenized shares could eventually be integrated with decentralized finance platforms, expanding liquidity opportunities and market utility.
According to the release, Galaxy’s on-chain equity opens the door to features typically exclusive to digital assets, including 24/7 trading, near-instant settlement, and potential integration with DeFi primitives such as AMMs and liquidity pools. These features contrast with the conventional equity market model, which operates only during fixed trading hours and requires multi-day settlement cycles.
Related: Galaxy, Jump & Multicoin Target $1B Solana Treasury Fund
Tokenization Expands Across Asset Classes
The Galaxy program is coming at a time when the process of tokenization is rapidly gaining momentum in international markets. According to industry statistics, the tokenized assets market has grown 380% since 2022, with some of the growth being fueled by the demand for private credit and U.S. Treasury bonds. Real estate and money-market funds have taken off as investors are seeking on-chain exposure to traditionally illiquid or yield-bearing products.
Equities are now becoming part of this expanding trend. Backed Finance’s xStocks platform has tokenized over 60 public companies, including Netflix, Meta Platforms, and Nvidia, across Solana, BNB Chain, and Tron. These tokenized equities are already tradable on centralized exchanges like Kraken and Bybit, as well as Solana-based decentralized exchanges. On Tuesday, xStocks announced its expansion to Ethereum, underscoring the growing demand for on-chain equity products.
Galaxy’s approach differs by directly tokenizing its own SEC-registered shares rather than offering proxy products. As part of this effort, Galaxy Ventures has invested in Superstate, signaling a vertically integrated strategy to build blockchain-native financial infrastructure.
