Galaxy Digital, the cryptocurrency investment firm helmed by the illustrious Mike Novogratz, has taken a leap into the digital ether, tokenizing its publicly traded stock with the flair of a magician pulling a rabbit from a hat 🧙♂️. This move positions the shares for a grand entrance into decentralized finance (DeFi), as institutional interest in tokenization grows with the enthusiasm of a toddler in a candy store 🍬.
The company, in a press release that would make a Shakespearean actor proud, announced that its Class A common shares, listed on both Nasdaq and the Toronto Stock Exchange under the ticker GLXY, can now be tokenized and fractionalized on the Solana blockchain through Superstate’s Opening Bell. Superstate, that paragon of fintech innovation, will act as the SEC-registered transfer agent, ensuring that even the most bureaucratic of processes is handled with the grace of a well-rehearsed vaudeville act 🎭.
Unlike the synthetic products or derivatives that have plagued the financial world since time immemorial, this initiative involves the actual Class A shares. Trades executed on Opening Bell will generate an instant record of ownership onchain, a feat that would make even the most skeptical of accountants gasp in awe 🤯.
Galaxy first went public on the Toronto Stock Exchange in 2018, a time when the internet was still in its infancy and the concept of “blockchain” was a secret whispered among crypto enthusiasts. The company now boasts a market capitalization of nearly $9 billion, a figure that would make even the most stoic of accountants weep with joy 😭.
Galaxy shares join dozens of other equities already available in tokenized form, a trend as popular as a summer blockbuster. Backed Finance’s xStocks platform, that paragon of innovation, has tokenized more than 60 public companies on Solana, BNB Chain, and Tron. Some of the biggest names include tokenized Netflix, Meta Platforms, and Nvidia, with the assets tradable on exchanges like Kraken and Bybit, as well as Solana-based decentralized exchanges 📈.
On Tuesday, xStocks announced that its tokenized equity offerings are now available on Ethereum, a move that has sent ripples through the crypto community like a pebble dropped into a still pond 🌊.
RWA tokenization trend expands to stocks
Tokenization has accelerated with the speed of a caffeinated hedgehog in 2025, with the market expanding 380% since 2022. Much of the early momentum has been concentrated in private credit and US Treasury bonds, where attractive yields and institutional demand have made tokenization especially compelling, much like a good cup of coffee ☕.
Other asset classes like real estate and money-market funds have also featured prominently, as investors sought onchain access to traditionally illiquid or yield-bearing products, a pursuit as thrilling as a treasure hunt 🏴☠️.
Now, the trend is gradually extending into public equities. Industry data show that the total value of tokenized stocks has reached about $341 million, a sum that would make even the most frugal of savers blush 🤭.
However, some industry observers, ever the cautious types, have raised concerns about tokenized stocks, arguing that the products still operate in a regulatory gray area. “It is crucial to understand that investors do not own actual shares; they hold tokens issued by intermediaries, which may entitle them to payouts if the underlying shares increase in value or are sold,” John Murillo, chief business officer at fintech firm B2BROKER, told CryptoMoon, a statement as clear as mud 🧼.
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2025-09-03 15:26