Galaxy Digital Inc. announced that it has collaborated with Superstate to allow its shareholders to tokenize and hold Galaxy’s Class A common stock directly on the Solana blockchain. Industry observers highlighted that this marks the first time an SEC-registered public equity has been tokenized on a major blockchain.
The new development is already in effect, enabling stockholders to convert their shares into tokenized form using Superstate’s Opening Bell platform. Unlike many previous tokenized stock products that relied on wrapped assets or synthetic representations, this initiative integrates directly with companies to tokenize their officially registered shares. Galaxy clarified that the tokenized version represents the same Class A common stock, complete with all shareholder rights attached.
Real-time ownership tracking on-chain
Superstate, which acts as the SEC-registered transfer agent in this setup, manages the recording of legal ownership through blockchain. As tokens move between wallets, ownership updates are reflected on the shareholder registry in real time. Both companies stressed that the tokenized shares remain legally identical to traditional equity while benefitting from blockchain’s efficiency and transparency.
Galaxy’s leadership indicated that the move was designed to contribute to the foundation of an on-chain capital market that merges traditional financial instruments with blockchain-powered systems. The company positioned the initiative as a significant step toward creating infrastructure that links legacy equities with digital solutions.
Superstate’s leadership emphasized the milestone, pointing out that this represented the first Nasdaq-listed company to be tokenized on a public blockchain. They underlined that each transaction on-chain is immediately reconciled with Galaxy’s shareholder records, ensuring consistency between token transfers and equity ownership.
Investor access and compliance
The tokenized shares are being made available to investors who have passed the required know-your-customer (KYC) checks. Approved holders can keep the assets in digital wallets and transfer them seamlessly. Both companies are also exploring the possibility of enabling trading of tokenized public equities through Automated Market Makers (AMMs) in a way that adheres to regulatory guidelines. This effort is aligned with the SEC’s broader Project Crypto initiative, which focuses on innovation in capital markets.
Galaxy disclosed the official Solana contract address for the tokenized shares as 2HehXG149TXuVptQhbiWAWDjbbuCsXSAtLTB5wc2aajK. The firm also issued a warning that any tokens purporting to represent GLXY stock from other smart contract addresses should be regarded as fraudulent.
Bridging traditional and digital finance
The tokenization of Galaxy’s stock signals an important development in efforts to merge conventional securities with blockchain ecosystems. By ensuring legal compliance and maintaining shareholder rights while offering the speed and transparency of digital assets, the initiative could serve as a template for other publicly traded companies exploring similar models.
Analysts believe that this move highlights growing momentum for blockchain integration within traditional finance. If successful, tokenized equities could potentially transform capital markets by reducing friction, lowering settlement times, and expanding access for investors. Galaxy and Superstate’s partnership may therefore represent an early step toward a more hybrid financial system that blends regulatory structures with blockchain innovation.
