Galaxy Digital Pioneers Blockchain Integration for U.S. Public Company Shares

Galaxy Digital has become the first U.S. public company to tokenize its shares on the Solana blockchain. The move aims to improve transparency and efficiency in capital markets, offering benefits such as near-instant settlement, around-the-clock trading, and streamlined compliance. Tokenization also opens up new opportunities for retail investors, including fractional ownership and increased liquidity. The initiative is part of the SEC's Project Crypto initiative to explore compliant ways for blockchain-based assets to integrate with traditional financial markets.

Galaxy Digital Holdings (NASDAQ: GLXY) has made history by becoming the first U.S. public company to tokenize its shares on the Solana blockchain. This innovative move, announced on Wednesday, leverages the Solana network via Superstate's Opening Bell platform to enable 24/7 trading and near-instant settlement for Class A common shares. The tokenization process allows existing shareholders to convert their shares into onchain versions, providing enhanced transparency and efficiency in capital markets.

The initiative offers several benefits, including near-instant settlement, around-the-clock trading, and streamlined compliance. Tokenization also opens up new opportunities for retail investors, such as fractional ownership and increased liquidity. This move is part of the SEC's broader Project Crypto initiative to explore compliant ways for blockchain-based assets to integrate with traditional financial markets.

Galaxy Digital's partnership with Superstate, an SEC-registered transfer agent and leading provider of tokenization services, underscores the company's commitment to innovation in finance. Superstate facilitates the onboarding of shareholders, enabling them to hold and transfer tokenized shares in self-custody. While automated market maker (AMM) trading has not yet been enabled, bilateral transfers between allowlisted entities are possible.

This development marks a significant milestone in the evolution of capital markets. The tokenization of securities is not a technological leap but a shift in record-keeping from centralized to decentralized ledgers. The move aligns with the SEC's efforts to create rational and workable rules for decentralized systems, including AMMs, within the securities markets. Galaxy Digital and Superstate are actively engaged with the SEC to define a model for compliant AMM trading of public equities.

The tokenization of Galaxy Digital's shares is a step towards a capital markets revolution, aiming to create a faster, more efficient, and inclusive method of value transfer and creation. This move positions Galaxy Digital at the forefront of innovation in finance, continuing its mission to advance the global economy.

References:

[1] Seeking Alpha. (2025). Galaxy Digital Enables Tokenization of Its Stock on Solana Blockchain. Retrieved from https://seekingalpha.com/news/4491740-galaxy-digital-enables-tokenization-of-its-stock-on-solana-blockchain?feed_item_type=news

[2] Galaxy Digital. (2025). Tokenized GLXY. Retrieved from https://www.galaxy.com/insights/research/tokenized-glxy