A significant shift in how public companies manage their stock just got real. Financial firm Galaxy Digital is shaking up the markets, announcing a plan to put its company shares directly onto the Solana blockchain. This groundbreaking move, done in partnership with Superstate, marks a first for a publicly traded company. It’s the first time a business listed on Nasdaq has tokenized its equity, registered with the U.S. Securities and Exchange Commission (SEC), straight onto a major public blockchain. This isn’t about creating stand-in versions or complex financial products; it’s about the real deal.
The news broke on Wednesday through a joint press release from Galaxy Digital and Superstate. They made it clear: this is a big step. Shareholders can now take their Class A common shares of Galaxy, which trade on both Nasdaq and the Toronto Stock Exchange, and convert them into digital tokens on the Solana network. They can also break these shares into smaller pieces.
A historic first: We’ve partnered with to allow stockholders to tokenize and hold shares onchain. This milestone marks the first time a public company has tokenized its SEC-registered equity directly on a major blockchain. Effective immediately,… pic.twitter.com/pYHrwzGfuh
— Galaxy (@galaxyhq)
Connecting Wall Street to the Blockchain
This effort aims to blend the best parts of blockchain technology with traditional finance. Imagine more openness, smart contracts that run themselves, and digital building blocks that can be easily combined. This could open doors to a more efficient, on-chain capital market.
Superstate, a financial technology company, plays a key role. It acts as an SEC-registered transfer agent. Its platform, called Opening Bell, ensures that when these digital tokens change hands, the official record of shareholders updates instantly. This keeps everything legal and exactly like traditional stock ownership.
Mike Novogratz, the founder and CEO of Galaxy, expressed his excitement. “We are happy to work with Superstate to set the stage for an on-chain capital market,” he said. This new market would “link traditional equities with next-generation infrastructure.” Novogratz added, “Our goal is tokenized equity that brings the best of cryptocurrencies – transparency, programmability, and composability – to the traditional world. And we are helping build a model that can grow, not just for Galaxy, but for the wider market.”
A New Era for Public Companies
Last month, Galaxy hinted at exploring tokenization for its shares. This happened when the company rang the opening bell at Nasdaq. It joined a growing list of crypto companies entering the U.S. stock exchange.
The decision to use Solana for tokenization is smart. Solana is known for its speed and low transaction costs. This could mean stock markets that never close and payments that happen almost instantly. Galaxy and Superstate are even looking into options for these tokenized shares to trade on decentralized finance (DeFi) platforms. Think of automated market makers (AMMs), but only under rules that regulators approve.
Superstate’s Opening Bell platform launched in May 2025. It focuses on issuing public equity that is SEC-registered and works with blockchains. This is different from other offers that use synthetic assets, which don’t directly involve the company that issues the stock.
Investors who pass “Know Your Customer” (KYC) checks can hold and move these tokens in their own crypto wallets. Superstate then updates the ownership records. Robert Leshner, CEO of Superstate, highlighted the significance. “This is the first time a Nasdaq-listed company has been tokenized on a major public blockchain,” he stated. “When tokens change hands, Galaxy’s list of registered shareholders updates in real-time. Financial markets are getting a huge upgrade with Superstate.”
Galaxy Leads the Tokenization Charge
This launch is a big step for turning real-world assets (RWA) into digital tokens on a blockchain. Galaxy, a company with offices in New York and around the world, keeps pushing boundaries. It stands at the meeting point of traditional finance and digital assets. This move comes at a time when tokenization is seeing massive growth.
The tokenization trend has really picked up steam in 2025. The market has grown by 380% since 2022. It now holds a value of $27 billion, according to data from RWA.xyz. The market for tokenized shares alone is worth almost $340 million.
With this decision, Galaxy makes its shares more liquid and useful in digital systems. It matches the growing demand for tokenization. Galaxy’s total market value has reached almost $9 billion. This growth comes from its expansion in trading, asset management, and powerful computing for artificial intelligence.
Galaxy’s GLXY shares rose by 1.2% on Nasdaq on Wednesday, before the market opened. They had closed at $24.16 on Tuesday, based on numbers from Google Finance.