{"id":18486,"date":"2025-11-30T04:30:39","date_gmt":"2025-11-30T03:30:39","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=18486"},"modified":"2025-11-30T04:30:39","modified_gmt":"2025-11-30T03:30:39","slug":"nasdaqs-digital-assets-chief-focusing-on-tokenized-stocks-is-key","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/11\/30\/nasdaqs-digital-assets-chief-focusing-on-tokenized-stocks-is-key\/","title":{"rendered":"Nasdaq’s Digital Assets Chief: Focusing on Tokenized Stocks is Key!"},"content":{"rendered":"

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The Nasdaq stock exchange in the U.S. is putting the SEC’s approval for its exciting proposal to offer tokenized stocks at the top of its agenda, as shared by the exchange\u2019s crypto chief.<\/p>\n

In a chat with CNBC on Thursday, Nasdaq\u2019s head of digital assets strategy, Matt Savarese, mentioned<\/a> they are eager to move forward. When asked if the SEC might greenlight their plan this year, he said, \u201cWe\u2019ll just move as fast as we can!\u201d<\/p>\n

He added, \u201cIt\u2019s essential for us to look at the public feedback and promptly respond to the SEC\u2019s inquiries. We aim to collaborate with them quickly,\u201d Savarese expressed.<\/p>\n

Savarese Says Nasdaq Isn\u2019t \u201cUpending the System\u201d<\/h2>\n

Nasdaq’s plan, submitted on September 8, aims to allow investors to trade stock tokens \u2014 digital forms of shares in publicly listed companies \u2014 directly on the exchange.<\/p>\n

When asked if he anticipates other major exchanges following their lead, Savarese made it clear that Nasdaq isn\u2019t about to flip the investment world upside down. \u201cWe\u2019re not looking to disrupt the whole system; instead, we want to bring tokenization into the mainstream and have everyone on board,\u201d he said.<\/p>\n

He also emphasized the importance of doing this responsibly, sticking strictly to the SEC’s rules.<\/p>\n

Just last month, Robinhood’s CEO Vlad Tenev predicted<\/a> that tokenization could \u201ceventually eat the whole financial system.\u201d<\/p>\n

The Crypto Industry is Divided on Tokenized Equities<\/h2>\n

Savarese highlighted that Nasdaq aims to be a trailblazer in the crypto landscape, pointing out that they were the pioneers in moving from paper trading to electronic systems.<\/p>\n

Related: <\/strong><\/em>DATs bring crypto\u2019s insider trading problem to TradFi: Shane Molidor<\/strong><\/em><\/a><\/p>\n

Tokenizing stocks has become a hot topic in the crypto community this year. <\/p>\n

On September 3, Galaxy Digital\u2019s CEO Mike Novogratz announced<\/a> that they had become the first Nasdaq-listed company to tokenize its equity on a major blockchain, launching on the Solana network.<\/p>\n

The discussion around tokenized stocks has sparked some skepticism within the crypto sphere, too. <\/p>\n

On October 1, Rob Hadick from the crypto venture firm Dragonfly<\/a> remarked that while tokenized equities could be beneficial for traditional markets, they might not provide the anticipated boost for the crypto sector.<\/p>\n

Hadick explained that if these tokenized stocks use layer-2 networks<\/a>, it can cause a \u201cleakage\u201d of value and might not benefit Ethereum or the broader crypto ecosystem as much as theorized.<\/p>\n

Magazine: <\/strong><\/em>When privacy and AML laws conflict: Crypto projects\u2019 impossible choice<\/strong><\/em><\/a><\/p>\n