TL;DR
- Nasdaq Initiative: Nasdaq will launch tokenized stocks globally, aiming to automate dividends and proxy voting through blockchain.
- Kraken Partnership: Kraken will distribute one‑to‑one tokenized shares outside the U.S., focusing on Europe and international markets.
- Global Competition: ICE’s $25 billion investment in OKX and Nasdaq’s Seturion deal show exchanges racing to expand tokenized securities.
Nasdaq is moving deeper into blockchain integration by teaming up with crypto exchange Kraken to roll out tokenized versions of public stocks worldwide. The initiative aims to modernize corporate governance and streamline shareholder rights, while opening new channels for international investors.
Nasdaq’s Blockchain Push
According to a Wall Street Journal report, Nasdaq will develop a system for issuing and trading tokenized shares and exchange‑traded products. These digital assets will mirror traditional stocks, granting holders the same rights as conventional shareholders. The exchange sees blockchain as a way to automate dividend payments and proxy voting, reducing inefficiencies in corporate actions.
Kraken will serve as the distribution partner, making one‑to‑one tokenized shares available to its customers outside the United States. The focus will be on Europe and other international markets, where demand for blockchain‑based financial products continues to grow. This partnership positions Kraken as a key gateway for investors seeking exposure to tokenized securities.
Regulatory Pathway and SEC Proposal
Nasdaq’s plan builds on a proposal submitted to the U.S. Securities and Exchange Commission in September. The proposal seeks approval to allow tokenized versions of listed stocks and exchange‑traded products to trade alongside traditional shares. Settlement would occur through the Depository Trust, ensuring both tokenized and conventional shares remain interchangeable and secure.
The move comes as other exchanges explore similar ventures. ICE recently invested in OKX, valuing the platform at $25 billion, with plans to offer tokenized stocks and crypto futures. Nasdaq also announced a partnership with Boerse Stuttgart Group’s Seturion platform, connecting European trading venues to tokenized settlement infrastructure. Together, these efforts highlight a growing race among global exchanges to integrate blockchain into mainstream finance.
