Galaxy Digital Becomes First Nasdaq Company to Tokenize Shares on Blockchain

Galaxy Digital has become the first Nasdaq-listed company to tokenize its SEC-registered shares directly on a major blockchain, launching GLXY tokens on Solana through partner Superstate’s Opening Bell platform.

The tokenized shares represent actual Galaxy Class A Common Stock with full shareholder rights, not derivatives or synthetic products. Superstate acts as the SEC-registered transfer agent, updating ownership records in real-time as tokens are transferred between verified holders.

“We’re taking part in building a model that can scale, not just for Galaxy, but for the market more broadly,” said CEO Mike Novogratz in a statement on Wednesday.

The tokenized shares are available immediately to KYC-verified investors who can hold and transfer them in crypto wallets. Unlike traditional equity markets limited to business hours, the blockchain-based shares enable 24/7 market potential with near-instant settlement.

Galaxy and Superstate are exploring regulatory-compliant integration with Automated Market Makers (AMMs) and DeFi platforms as part of the SEC’s Project Crypto innovation initiative. Currently, only bilateral transfers between allowlisted participants are permitted.

The move represents a shift from companies simply adding Bitcoin to their balance sheets toward reimagining core financial infrastructure on blockchain rails. Galaxy invested in Superstate through its venture arm, positioning the partnership as part of a broader capital markets digitization strategy.

Superstate CEO Robert Leshner called it “a massive upgrade” to financial markets, noting that Galaxy’s registered shareholder list updates automatically when tokens change hands on-chain.

The initiative could provide a template for other public companies considering blockchain integration, particularly as institutional crypto adoption accelerates and regulatory frameworks mature.

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