Nasdaq, the US Exchange where the largest tech sector names list their stocks, is Looking to put stocks on the blockchain.
If the SEC filing is approved, the replacement will allow customers to choose either traditional route for trade equality or make it on-chain with tokenized stocks-an option to be considered with the same priority as a way of heritage.
“The exchange believes that markets can use tokenization while continuing to provide benefits and protection of the national market system,” Nasdaq has argued with its filing, suggesting that tokenized assets should be exchanged “in regulated markets, especially national security exchanges, alternative trading systems, and in the (financial regulatory regulations Broker-Dealers.
Nasdaq’s move follows an effort of Digital Brokerage Robinhood to Issue stock tokens for European customers In July, providing access to about 200 US stocks and funds exchanged (ETF). Bringing equities and other real-world assets into blockchain metals is among the worst innovations of the digital-asset world, and the competition is growing fierce for both traditional financial names and crypto natives to make motions.
Many crypto exchanges, such as bybit, Kraken And Gemini, jumped. But the Tradfi Behemoth Nasdaq – home lists for Apple, Google’s alphabet parent, Amazon, Microsoft and other major technologies – is particularly significant.
Read more: Tokenized stocks do not work (yet)
For its part, the NASDAQ will consider this business such as regular stock trading, it said, and clearly trading the tokens and settles through the Depository Trust Co.
“The only fact that an order contains tokenized securities or indicates a preference to clear and improve security form to token will not affect the priority in which the exchange conducts the adoption,” according to NASDAQ’s proposed change with the SEC. Digital stock transactions are-under this new system-log by the digital ledger, which “presents novel capabilities where evidence of ownership and security transactions.”
Tokens buyers will get full right to relevant stock shares, including voting and extermination rights.
NASDAQ’s new tokenized trading-also offers exchange-exchanged products, such as ETFs-will begin “once the required infrastructure and post-trade settlement services are established by” DTC, working with them, the company said.
“Our proposal aims to provide significant benefits to markets by incorporating new fabric capabilities of our financial system and to further advance the most efficient and trusted markets in the world,” NASDAQ president Tal Cohen, in the A Monday posting on LinkedIn.
SEC Chairman Paul Atkins made it clear that the tokenization of the property was a top priority for the agency, and the regulator gathered a panel In the series of crypto roundtables earlier this year to explore it. A The main ingredient The new Atkins’ Crypto project project to the agency is to clear a path for the leading tokenized securities market worldwide.
“This movement of security from off-chain to on-chain systems is similar to moving audio recordings from analog vinyl records to cassette tapes to digital software decades ago,” Atkins said in May 12 agency comments. “Moving to on-chain securities has the potential to remodel aspects of the security market by enabling full new methods of release, trading, ownership, and using security.”
Read more: Sec, CFTC leaders said
Update (September 8, 2025, 13:49 UTC): Adds feedback from Nasdaq.
