Galaxy Stock Becomes First SEC-Registered Equity Tokenized on a Major Blockchain
For the first time, the shares of an SEC-registered, publicly traded company have been tokenized directly on a major blockchain and transferred peer-to-peer.
Galaxy Digital (Nasdaq/TSX: GLXY), a global leader in digital assets and data center infrastructure, partnered with Superstate to make it happen. Through Superstate’s Opening Bell platform, GLXY stockholders can now tokenize and hold their shares on Solana, with Superstate acting as the SEC-registered transfer agent to ensure compliance and maintain official shareholder records. These aren’t derivatives or synthetic tokens. They’re actual Galaxy Class A Common Stock, carrying all the rights and benefits of traditional shares.
This milestone points toward how public markets can operate on modern, programmable rails: faster, more transparent, and fully compliant.
A New Kind of On-chain Equity
The term “tokenized equity” has been used loosely over the years. Often, it’s referring to synthetic or “wrapper” representations of public stocks issued by third parties without the company’s involvement. These products may attempt to track the price of an equity, but they don’t confer the same legal rights and shareholder benefits as the underlying, nor do they integrate with the company’s shareholder registry. They aren’t stock. They’re financial abstractions.
Tokenized GLXY shares are different. They’re the same Class A Common Stock that trades on major exchanges, now recorded directly on Solana. Through Superstate’s Opening Bell platform, shareholders can tokenize their holdings on-chain, while Superstate ensures full legal and regulatory integrity and maintains Galaxy’s official shareholder records in real time. Once tokenized, shares can also be transferred peer-to-peer between verified addresses, with each movement reflected instantly on Galaxy’s cap table. Holders of these tokens are true GLXY shareholders, with the same rights and benefits as if their shares were held through a traditional brokerage.
And critically, this milestone is more than just putting shares on-chain. It lays the groundwork for what comes next: streamlined settlement, new liquidity venues, and integration with on-chain decentralized financial infrastructure. Tokenization sets the stage for public equities to operate in a global, programmable, and always-on market.
What Changes for Companies and Investors
What this unlocks isn’t theoretical, it’s tangible.
For companies, today’s capital markets still rely on outdated infrastructure that limits how they connect with shareholders. Ownership is often obscured through layers of custodians and brokers, making it difficult to know who actually holds their stock. Corporate actions like dividends require multiple intermediaries, adding cost and friction. Market access is fragmented, constrained by exchange listings and trading hours and companies are limited in how creatively they can interact with their shareholders.
Tokenized equity changes that. Companies gain real-time visibility into their shareholder base, with every change in ownership recorded on-chain as it happens. They can engage directly with investors, reach a broader investor base, distribute dividends instantly to wallets, and explore other innovative ways of interacting with stakeholders, all while keeping legal rights intact and operating inside a compliant framework.
For investors, settlement happens as soon as a block confirms. No more T+1. Shares can be held directly in wallets without the layers of intermediaries found in traditional finance. Ownership transfers have full legal effect, and the same asset can be securely held today, with future opportunities to trade, use as collateral, or integrate into DeFi protocols as compliant models emerge. Tokenization makes it possible to participate in public markets on a global, 24/7 basis.
This isn’t about building a new asset class. It’s about moving the existing one onto better infrastructure.
The Beginning of a Broader Shift
Galaxy is the first public company to have its equity tokenized on a major public blockchain, but it won’t be the last. This launch marks the start of a market structure shift toward equities that can operate globally, 24/7, and without unnecessary intermediaries between companies and their shareholders.
In the months ahead, Superstate will support additional companies bringing their equity on-chain, while new DeFi integrations emerge to enable compliant liquidity and collateral use cases. Investor access will also continue to expand as more infrastructure comes online. Opening Bell is live today on Solana, with Ethereum support coming soon for other major companies.
Register with Superstate today to complete approval and be ready to access tokenized GLXY and other future public equities as they become available.