Nasdaq filed with the SEC on Monday to permit tokenization and blockchain listing of stocks, a move that would let customers trade tokenized shares with the same priority as traditional equities.
In its Monday filing, Nasdaq said markets can adopt tokenization while “continuing to provide the benefits and protections of the national market system.” President Tal Cohen added: “Wholesale exemptions from the national market system and related protections are neither necessary to achieve the goal of accommodating tokenization, nor are they in investors’ best interests.”
The submission arrives less than a week after the SEC revamped aspects of its crypto handling framework, including potential amendments affecting crypto-linked stocks, according to the notes provided.
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Following the news, Coinbase has announced plans to launch tokenized stocks and prediction markets for US users “in the coming months.” Meanwhile, Kraken said earlier this year it will offer US equity tokens in select non-US markets.
The Nasdaq Composite rose by more than 100 points and crypto’s total market cap gained around 2% on the day following the news.
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