Galaxy Digital to Tokenize SEC-Registered Shares via Superstate’s Opening Bell
According to the company, Galaxy Digital will tokenize GLXY Class A common stock on Solana through Superstate’s Opening Bell platform, enabling 1:1 share conversion while highlighting regulatory risks and trading restrictions.
Galaxy Digital officially announced it is partnering with SEC-registered transfer agent Superstate to tokenize GLXY Class A common stock on the Solana blockchain. The program allows shareholders to convert holdings via DRS through Equiniti into 1:1 tokenized shares with full legal and economic rights. Tokenized shares can be transferred bilaterally between registered wallets, though decentralized exchange trading is not yet available. Risks disclosed include potential wallet loss with reissuance mechanics, possible price divergence from traditional shares due to liquidity, and regulatory uncertainty that could force reversal of the program.
- Tokenized shares: Traditional equity represented on a blockchain, retaining full legal and economic rights of the original stock.
- Direct Registration System (DRS): A method of holding shares directly on a company’s books without a physical certificate, allowing conversion into on-chain tokens.
- Bilateral transfers: On-chain movement of tokenized shares directly between registered users’ wallets, without public order books or decentralized exchanges.