SEC Clears Nasdaq to List Tokenized Securities
The SEC has authorized Nasdaq to run a pilot program for tokenized securities, allowing blockchain-based representations of stocks to trade and settle in the same manner as traditional shares. The approval permits a controlled rollout under regulatory oversight, with the aim of testing operational, custody, and compliance arrangements before any broader adoption.
The decision is significant because it creates a formal path for tokenization within regulated U.S. markets, potentially speeding settlement, reducing intermediaries, and improving transparency and liquidity. That said, the pilot is limited in scope and designed to evaluate risks alongside benefits, so widespread replacement of current market plumbing is not imminent. Market participants and custodians will be watching closely for outcomes that could shape the next phase of digital asset integration into mainstream equity markets.