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Securitize to Tokenize 12 Major U.S. Stocks on Solana Blockchain
Securitize, a tokenization company, has announced the launch of a new product called "Securitize Stocks," which will bring 12 major U.S. stocks, including Apple, NVIDIA, Tesla, and Microsoft, to the Solana blockchain. This initiative aims to provide a new way for investors to engage with these securities through tokenization, where each stock token is backed 1:1 by actual shares. The product will also retain applicable shareholder rights, such as dividends and voting rights, although it represents securities interests rather than direct ownership on the company's shareholder register.
The initial batch of stocks includes well-known companies such as Microsoft, Amazon, Alphabet, Meta, Netflix, Circle, Strategy, and Palantir. Trading of these tokenized stocks will commence on Securitize's existing platform on Solana, with liquidity provided by Jump Trading and transactions settled in USDC stablecoin. Securitize plans to expand its offerings to the New York Stock Exchange's upcoming 24/7 digital trading platform and the new OKXICE tokenized securities venue, a collaboration between the NYSE's parent company Intercontinental Exchange and OKX, pending regulatory approvals.
This move marks a significant step in the integration of blockchain technology with traditional financial markets, potentially enhancing accessibility and liquidity for investors. The tokenization of stocks could pave the way for broader adoption of digital assets in the financial sector.
Source: KLEA News