Nasdaq crypto chief pledges to ‘move as fast as we can’ on tokenized stocks

Nasdaq's head of digital assets strategy, Matt Savarese, stated that the exchange is making approval of its proposal for tokenized stocks by the SEC a top priority, pledging to "move as fast as we can." Savarese indicated that Nasdaq is prepared to respond promptly to any SEC questions following public comments on the proposal submitted on September 8th, which seeks permission to trade digital representations of publicly listed shares.

Savarese emphasized that Nasdaq's goal is not to overhaul the existing financial system but rather to integrate tokenization responsibly into the mainstream under current SEC regulations. This contrasts with views from some in the crypto industry, like Robinhood CEO Vlad Tenev, who believe tokenization will eventually dominate finance. Nasdaq views itself as an innovator, referencing its history in transitioning markets to electronic systems.

The tokenization of equities has been a major topic, with Galaxy Digital having already tokenized its equity on Solana. However, the concept faces skepticism; some experts worry that if tokenized stocks utilize layer-2 networks, value might not flow back into the broader Ethereum or crypto ecosystem as anticipated.

(Source：Cointelegraph)