Solana News Today: "Galaxy Redefines Equity with First SEC-Compliant Tokenized Shares on Solana"

Galaxy Digital Inc. (Nasdaq: GLXY) has partnered with blockchain platform Superstate to tokenize its Class A common shares directly on the Solana blockchain, marking the first instance of an SEC-registered public equity being tokenized on a major blockchain network. The initiative, launched via Superstate’s Opening Bell platform, allows stockholders to tokenize their shares and hold them on-chain, maintaining full legal ownership and equity rights. This move represents a significant step toward integrating traditional finance with blockchain infrastructure while adhering to regulatory compliance standards [1].

Unlike synthetic or wrapped tokenized stocks that often operate independently of the issuing company, Galaxy’s tokenized shares are directly issued on Solana and legally equivalent to traditional equity. Superstate, acting as the transfer agent, ensures real-time updates to the shareholder register as tokens are transferred between verified wallets. This integration preserves the rights of shareholders and leverages the benefits of blockchain, including fast settlement times, 24/7 market availability, and enhanced transparency [2].

Mike Novogratz, founder and CEO of Galaxy, emphasized the initiative’s potential to redefine capital markets by combining the advantages of blockchain—such as programmability and composability—with the compliance and structure of traditional equity. He described the collaboration with Superstate as a foundational step in building an on-chain capital market capable of scaling beyond Galaxy to benefit the broader financial ecosystem [1].

The partnership aligns with broader regulatory efforts, including the U.S. Securities and Exchange Commission’s Project Crypto, which explores ways to integrate tokenized assets into existing financial frameworks. Galaxy and Superstate are also exploring how the tokenized shares could be traded via Automated Market Makers (AMMs) and other decentralized finance (DeFi) platforms, provided they remain within regulatory boundaries. This could unlock new liquidity channels and utility for both investors and issuers [1].

The tokenized shares are available only to approved investors who have completed Know Your Customer (KYC) verification and can hold and transfer them using their crypto wallets. Galaxy’s tokenized shares have a specific contract address on Solana, ensuring clarity and preventing the circulation of fraudulent tokens. Investors are urged to confirm authenticity and avoid tokens from other smart contract addresses [1].

This initiative places Galaxy among the forefront of companies experimenting with tokenized equity, a trend that has seen growing interest in both the U.S. and Europe. However, concerns persist regarding limited shareholder rights in some tokenized stock offerings and the fragmented regulatory landscape. Galaxy’s approach, which maintains the same legal and rights-based structure as traditional equity, may serve as a model for future tokenization efforts that balance innovation with investor protection [3].

The move reflects Galaxy’s broader investment strategy, which includes backing and partnering with companies that drive blockchain-based innovations. Superstate, a Galaxy Ventures portfolio company, plays a central role in this partnership, highlighting the strategic alignment between the two firms in advancing blockchain-based financial infrastructure [1].

Source:

[1] Galaxy and Superstate Launch GLXY Tokenized Public Shares on Solana (https://www.prnewswire.com/news-releases/galaxy-and-superstate-launch-glxy-tokenized-public-shares-on-solana-302544834.html)

[2] Galaxy (GLXY) Tokenizes Its Shares on Solana Blockchain (https://www.coindesk.com/business/2025/09/03/galaxy-digital-tokenizes-its-shares-on-solana-with-superstate)

[3] Tokenized Stocks May Mislead Investors, Says EU Watchdog (https://cointelegraph.com/news/investors-misunderstand-tokenized-stocks-eu-markets-watchdog)