Nasdaq seeks the SEC permission to offer tokenized actions

By Hannah Pérez

Nasdaq proposes to revolutionize the traditional market with commerce of tokenized shares in the United States. He sent a proposal to the SEC that, if approved, will completely change the way the values ​​are negotiated.

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• Nasdaq is committed to tokenization: a jump towards the future of the stock market.
• If approved, it will be the first important stock exchange in adding tokenized actions.
• The SEC is changing its rules, which can open the Wall Street path to the blockchain.

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Nasdaqthe main stock exchange of the United States for technological giants, has submitted a proposal before the Bag and Securities Commission (SEC) to introduce the commerce of tokenized values, a movement that could mark a milestone in the integration of technology Blockchain in traditional financial markets.

Tokenization, a process that converts financial assets such as actions, bonds or funds into digital representations –Tokens– based on Blockchainis experiencing a global boom.

Technology provides benefits such as greater liquidity, fractional property and access to international investors, in addition to Facilitate operations 24 hoursunlike the traditional bags that close during the night and holidays.

If Nasdaq’s proposal is approved, it would be the first time that a large American bag allows negotiating quoted actions and products (ETP) in tokenized format, guaranteeing the same rights and privileges as conventional values.

Nasdaq at the forefront with blockchain

According to the proposal presented on Monday, Nasdaq seeks to modify rules, including the definition of value, to allow tokenized actions to be negotiated on their platform under the same rules of execution and priority as traditional values.

“The market can adopt tokenization by maintaining the benefits and protections of the national market system“said Nasdaq in his application before the SEC, as reported COINDESK.

In addition, tokenized values ​​must guarantee “The same material rights and privileges as the traditional values ​​of an equivalent class“, Including voting and liquidation rights, and will be registered in a greater digital book that offers new capabilities to demonstrate property and transactions.

The liquidation process of these operations would be carried out through the Depository Trust Company (DTC), which is developing the necessary infrastructure. Nasdaq estimates that, if the proposal is approved and the DTC completes its infrastructure, US investors could carry out the first tokenized operations for the third quarter of 2026.

Development occurs in a context of growing interest, financial giants such as Blackrock, Franklin Templeton and Kkr have ventured into tokenization, while platforms such as Robinhood They have expanded their offer to list tokenized actions in Europe, and Exchange of cryptocurrencies like Kraken, Gemini and Bybit They have also replicated this trend. However, the Nasdaq initiative represents an unprecedented step for a regulated bag of its magnitude.

Tokenization touches the door of Wall Street

This movement also arises at a time of regulatory flexibility under the administration of Donald Trump, with the new president of the SEC, Paul Atkins, prioritizing tokenization.

Atkins previously compared this transition with the change of vinyl discs to digital formats, highlighting that “Migration at chain values ​​has the potential to remodel aspects of the stock market by allowing new methods of emission, negotiation, property and use of values“, According to statements cited by COINDESK.

However, not all are optimistic. Some critics, like Citadel Securitieshave warned about possible systemic risks and the need for clear regulations to avoid regulatory arbitrations, according to Bloomberg. The commissioner of the SEC, Hester Peirce, also pointed out that the tokenized values ​​must comply with existing laws, a point that Nasdaq claims to respect in its proposal.

Nasdaq also expressed concern about unauthorized tokenization on foreign platforms, such as in Europe, where some investors access tokenized versions of US actions without obtaining real participations in companies. The bag seeks to ensure that the emitters maintain control on how and where their actions are negotiated.

The proposal, which requires approval of the SEC and a period of public comments, could transform the infrastructure of financial markets, carrying technology Blockchain To the heart of Wall Street. Meanwhile, the debate on whether token will revolutionize the markets or continue to be a continuous niche tool, with Nasdaq positioning itself as a leader in this race towards the future of finance.

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Article written with the help of AI, edited by Diariobitcoin

Image generated with AI, under free use license

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