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Billionaire and crypto advocate Mike Novogratz has tweeted a proud announcement that his fund, Galaxy Digital, has become the first Nasdaq-listed company to tokenize its equity, launching it on a blockchain.
From now on, GLXY is available on the Solana blockchain.
Galaxy Digital's new milestone with Solana
Novogratz said that his company has entered into a partnership with Superstate, a fintech company that works with capital markets. Now Galaxy Digital stockholders are able to tokenize and hold their GLXY shares on-chain — on the Solana network.
“This is a milestone for capital markets,” Novogratz summarized. This is also the first time that an SEC-registered equity has been directly launched on a major blockchain network. GLXY can be tokenized via Superstate’s Opening Bell platform, according to the press release.
GLXY is Galaxy Digital Class A Common Stock and is not a derivative or any kind of representation. Yet, these on-chain equities remain “fully compliant and legally equivalent to traditional equity,” but now their holders will be able to benefit from GLXY launch on-chain thanks to Solana’s high speed, transparency and general efficiency.
Major anti-scam GLXY warning from Galaxy Digital
“By tokenizing on Solana, Galaxy’s equity gains 24/7 market potential and near-instant settlement,” the press release proudly says. If tokenized GLXY gets traded, the list of registered shareholders will get updated in real-time mode.
Besides, tokenized GLXY may later become available on AMMs and other DeFo platforms. This equity will later become available to KYC investors, who will be able to move it between their crypto wallets.
The press release unveiled the SOL smart contract on which GLXY is launched — 2HehXG149TXuVptQhbiWAWDjbbuCsXSAtLTB5wc2aajK. Tokens running on any other smart contract addresses are fraudulent, Galaxy Digital warns investors.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team