Nasdaq Prioritizes SEC Approval for Tokenized Stocks, Aiming for Mainstream Adoption

Nasdaq's digital assets chief Matt Savarese has declared the exchange's tokenized-stock proposal a top priority, pledging to work closely with the SEC for approval. The initiative WOULD enable on-chain trading of digital representations of publicly listed shares under existing market rules, without altering shareholder rights or market structure.

"We're not creating a new exotic instrument. The stock is the stock," Savarese emphasized during a CNBC interview. The September-filed proposal seeks to maintain traditional investor protections while introducing blockchain settlement options, framing tokenization as an evolutionary step rather than a disruptive force.

The exchange's approach preserves the current order book system and SEC oversight, with tokenized shares carrying identical rights to conventional securities. Nasdaq's measured strategy reflects growing institutional recognition of blockchain's potential to modernize legacy systems without compromising regulatory compliance.