Galaxy Digital Tokenizes Its Shares on Solana With Superstate

Digital asset investment firm Galaxy Digital (GLXY) is bringing its stock onto blockchain rails as equity tokenization is gaining steam.

The Nasdaq-listed company has partnered with blockchain firm Superstate to make its Class A common stock available as tokens on the Solana SOL$132.16 network through Superstate’s Opening Bell platform. The arrangement preserves the full rights of SEC-registered equity while allowing investors to hold and transfer shares on-chain, the firms said.

Tokenization of traditional assets has gained traction across the financial sector as firms experiment with moving equities, bonds and money-market funds onto blockchain rails. A slew of tokenized equity products hit the market in the past few months predominantly for EU investors, including by Robinhood, Gemini with Dinari, and xStocks by Kraken and Backed Finance. However, some offerings drew concerns such as limited shareholder rights and fragmented regulations.

Unlike synthetic or wrapped tokenized stocks that operate without issuer involvement, Galaxy’s shares are issued directly on-chain and tracked by Superstate as a transfer agent, recording changes to the shareholder register instantly as tokens move between verified wallets.

This approach seeks to combine compliance with blockchain features such as fast settlement, transparency and around-the clock-availability, the firms said.

"We’re proud to be working with Superstate to help lay the groundwork for an on-chain capital market that bridges traditional equities with next-generation infrastructure," Galaxy founder and CEO Mike Novogratz said in a statement. "Our goal is a tokenized equity that brings the best of crypto – transparency, programmability and composability – into the traditional world."

Read more: Tokenized Stocks Aren’t Working (Yet)