Securitize’s move to tokenize the shares of major U.S. companies on the Solana network has resulted in a more than 10% rise in those stocks. This innovative service launches amid growing interest in bringing traditional financial assets onto blockchain platforms. Nasdaq CEO Adena Friedman highlighted the potential of tokenization to unlock trillions of dollars trapped in the global financial system.
Securitize Plans to Extend Trading Hours
Initially, trading will occur outside traditional market hours through Securitize’s registered broker-dealer platform. Clearing will be carried out on the Solana network using USDC, with liquidity provided by Jump Trading. Securitize has plans to extend trading to a 24-hour schedule in the future.
Securitize Stocks include the shares of 11 companies listed in the U.S. markets such as Apple, Nvidia, Microsoft, and Tesla. Each token is backed one-to-one by the respective share, preserving dividend and voting rights.
The company also aims to supply assets to tokenized securities platforms developed by the New York Stock Exchange and OKX ICE, though launch dates for these platforms remain undisclosed. Ripple Prime supports the rollout, exploring the integration of these assets into its institutional trading service, while Aave is among potential partners considering the utilization of tokens as collateral.
Nasdaq Calls for Continuous Risk Management
At the TOKEN2049 conference in Singapore, Nasdaq CEO Adena Friedman advocated for the tokenization of U.S. Treasury bonds, equities, money market funds, and capital flows, stating it can increase collateral liquidity. She envisions this as a means to activate the dormant capital within the global financial infrastructure.
“Interest from institutions has notably increased over the past year,” said Friedman, partly due to the GENIUS Act in the U.S., which has established a regulatory framework for stablecoins. The ability to tokenize currencies is paving the way for capital flows to transition into similar structures.
Friedman emphasized that institutional interest aligns with individual investors’ long-standing demand for round-the-clock trading capabilities, noting that the retail investor ecosystem is about a decade ahead in this domain. However, transitioning the financial sector to a fully 24/7 market structure is a considerable challenge.
Nasdaq’s recent partnership with Pyth Network for tokenized asset price data underscores its commitment to pioneering technologies in this arena. According to Friedman, exchange infrastructure is the simplest aspect of this transition. While financial institutions typically utilize downtime for system upgrades and risk management, uninterrupted trading necessitates real-time risk and collateral management.
Friedman noted that artificial intelligence is instrumental in this process, revealing that Nasdaq has deployed digital agents within its risk management platform. Initially providing suggestions, these agents may eventually facilitate more direct transactions by banks.
Kraken co-CEO Arjun Sethi observed that interest in tokenization and access to U.S. capital markets is strong among companies outside the United States, including both major international firms and enterprises generating around $25 million in revenue. However, Friedman cautioned that not all assets are liquid enough to support a 24/7 trading environment.
In the current market landscape for tokenized stocks, BNB Chain stands out. It holds the largest share, 41%, of the total market value of tokenized stocks among analyzed blockchains. The network has reached 187,112 unique addresses holding tokenized stocks worth over $10 at any given time, leading both in the number of addresses and market value share.
