09.09.2025 02:50
In a significant development sourced from internet resources, Nasdaq has formally submitted a filing with the U.S. Securities and Exchange Commission (SEC), seeking approval to facilitate the trading of tokenized stocks. This strategic move by the prominent stock exchange underscores a burgeoning trend of asset tokenization rapidly gaining traction across the global financial services landscape.
Nasdaq articulated its conviction that the tokenization of assets can deliver a comparable suite of advantages and safeguards to those offered by established, traditional financial systems. The exchange, renowned for listing a constellation of technology titans such as Apple, Amazon, Meta, and Google, is advocating for a regulatory alteration that would empower it to maintain records of stocks in a tokenized format. This application, disclosed on Monday, arrives at a juncture where the impetus behind tokenizing various assets is demonstrably escalating.
Under the proposed framework, Nasdaq would afford its clientele the flexibility to engage in securities transactions utilizing either conventional digital representations of ownership or, alternatively, through mechanisms that incorporate blockchain technology. The exchange detailed in its filing that participants wishing for their orders to undergo clearing and settlement in a tokenized form would be required to signify this preference at the time of order submission by selecting a designated flag. Consequently, when an order is entered with the tokenization flag activated, Nasdaq would relay the participant's clearance and settlement directives to The Depository Trust Company.
This initiative by Nasdaq contributes significantly to the intensifying enthusiasm for tokenization, evident among both established financial institutions and firms dedicated to digital assets. Illustrating this broader movement, Robinhood, in June, launched the trading of U.S.-listed stocks and exchange-traded funds as tokens for its European users, leveraging Arbitrum, an Ethereum layer-2 scaling network. Furthermore, the cryptocurrency exchange Kraken revealed its own tokenization ambitions in May, forging a partnership with Backed to offer tokenized U.S.-listed stocks and ETFs on the Solana blockchain.
Nasdaq’s filing further asserted that U.S. equity markets have historically flourished by embracing successive waves of technological advancements. The exchange also highlighted that the existing regulatory framework, as established by Congress, is indeed applicable to tokenized securities, irrespective of whether these securities possess particular unique characteristics, such as the capacity for settlement.
