Nasdaq is moving ahead with its planned on-chain stock token standard by hiring an RWA (real-world asset tokenization) Principal Protocol Engineer to help shape the Nasdaq Token Design Standard, a framework for representing and managing traditional equities on blockchain networks in a regulated manner. The role spans token issuance, compliance integration, corporate action processing, blockchain network selection and the development of trading infrastructure tailored for institutional participants. The position carries a base salary range of $155,000 to $287,000. The move suggests Nasdaq is treating tokenization as a longer-term market infrastructure effort rather than a limited experiment. A common standard for tokenized stocks could help address fragmented adoption by improving interoperability and reducing compliance friction, while potentially supporting faster settlement, around-the-clock trading and blockchain-based collateral management. The development also highlights the challenges facing tokenized securities, including regulatory uncertainty, custody and the need to align token mechanics with existing corporate governance rules.