Nasdaq is accelerating efforts to secure approval from the U.S. Securities and Exchange Commission (SEC) for its proposal to introduce tokenized stocks. Matt Savarese, Nasdaq’s head of digital assets strategy, highlighted the urgency during a recent CNBC interview, saying the exchange intends to “move as fast as we can” to advance the initiative. Submitted on September 8, the proposal would allow investors to trade digital versions of publicly listed company shares, offering a new layer of accessibility and modernization to traditional markets.
Savarese emphasized that Nasdaq’s goal is not to disrupt or replace current investment systems. Instead, the exchange aims to responsibly integrate tokenization into mainstream financial infrastructure. To accomplish this, Nasdaq is focusing on addressing public feedback and responding promptly to SEC questions—key steps in gaining regulatory approval for the innovative trading model.
Nasdaq’s Approach to Tokenized Stocks
According to Savarese, the tokenization effort is designed to complement established trading practices. By creating digital representations of stocks, Nasdaq hopes to expand investor access and streamline processes without compromising the integrity of traditional markets. This approach aligns with a broader industry trend in which financial leaders explore blockchain technology for efficiency and innovation.
Industry Reactions and Ongoing Debate
The idea of tokenized equities has been gaining traction, especially as figures like Robinhood CEO Vlad Tenev suggest tokenization could reshape the broader financial system. However, opinions remain divided within the crypto community. Rob Hadick of Dragonfly noted that while tokenized stocks may bring value to traditional markets, they may not deliver the transformative impact on the crypto ecosystem that many expect.
As Nasdaq continues pushing forward, the outcome of the SEC’s review will play a pivotal role in determining how soon tokenized stock trading becomes a reality—and how significantly it may influence the future of both traditional finance and digital asset markets.
