Nasdaq applies for SEC approval for stock tokenization

According to Ha Shichain, the Nasdaq Stock Exchange is seeking approval from the U.S. Securities and Exchange Commission (SEC) to advance a plan to bring stocks into the blockchain space. Nasdaq noted in its application that it aims to allow the market to retain various benefits and protections of the national market system while adopting tokenization technology. Relevant tokenized assets will be traded in regulated markets, covering national securities exchanges, alternative trading systems, and broker-dealers overseen by the Financial Industry Regulatory Authority in the U.S. Nasdaq stated that it views this business as regular stock trading, and the trading, clearing, and settlement of tokens will be conducted through a custodial trust company. Investors purchasing these tokens will receive full rights associated with the relevant stocks, including voting rights and liquidation rights.

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