Nasdaq, the US exchange, where the technology sector’s biggest names show their shares, try to put shares on blockchain and ask the US securities and exchange commission on Monday to bless its efforts, even when others in the securities world sprint against the same tokenization target.
If the SEC archiving is approved, the exchange will allow customers to choose either the traditional route for trading shares or to make the on-chain with tokenized shares-a option that would be treated with the same priority as the Legacy method.
“The exchange believes that the markets can use tokenization while continuing to provide the benefits and protection of the national market system,” Nasdaq claimed in its archiving and hinting that the tokenized assets should be traded “in regulated markets, namely national securities exchanges, alternative trading systems and to [Financial Industry Regulatory Authority] Regulated brokers dealers. “
The relocation of Nasdaq follows the efforts of Digital Mediation Robinhood to issue the warehouse to European customers in July, giving access to about 200 US shares and stocked funds (ETFS). Bringing stocks and other real-world assets on blockchain rails has been among the most sizzling of the digital world’s innovations, and competition has become fierce for both traditional financial names and crypto-native to make movements.
Several crypto exchanges, such as Bybit, Kraken and Gemini, have made jumped. But Tradfi Behemoth Nasdaq – Home of the Lists of Apple, Google Parent Alphabet, Amazon, Microsoft and other technological carriers – is particularly important.
Read more: Tokenized warehouses do not work (Yet)
On its part, Nasdaq would treat this business just like ordinary stock trading, it said, and have trade in tokens clear and settle through the Depository Trust Co.
“The mere fact that an order contains tokenized securities or indicates a preference to clear and run securities in token form does not affect the priority in which the exchange performs this order,” according to Nasdaq’s proposed change with SEC. The already digital stocks of stock would-under this new system-be logged via digital headbok, which “presents new capabilities on which to register proof of securities ownership and transactions.”
Those who buy tokens would gain full rights to the affiliated shares in shares, including voting and liquidation rights.
Nasdaq’s new Tokenized Trade-Og to offer exchange-traded products, such as ETFs-Ville, when the necessary infrastructure and postal trading services have been created by “DTC working on them, the company says.
“Our proposal aims to provide meaningful benefits in the markets by integrating new capabilities into the drug into our financial system and further promoting the world’s most efficient and trusted markets,” Nasdaq President Tal Cohen said in a Monday issuer on LinkedIn.
SEC President Paul Atkins has made it clear that tokenization of assets is an important priority for the agency, and the regulator gathered a panel in his series of crypto -round tables earlier this year to explore it. An important component of ATKINS ‘new project crypto shubs on the agency is to clear a path for the world’s leading tokenized securities market.
“This movement of securities from off-chain to on-chain systems corresponds to the transition of audio recordings from analog vinyl records to cassette tapes to digital software decades ago,” Atkins said in May 12 notes on the agency. “Migration to on-chain migration has the potential to remodel aspects of the securities market by enabling brand new methods for issuing, trading, owning and using securities.”
Read more: SEC, CFTC Chiefs says Krypto Torv Warrior over when agencies move on to joint work
Update (September 8, 2025, 13:49 UTC): Adds comment from Nasdaq.
