Will Nasdaq’s revolutionary proposal sideline other tokenized stock issuers?

Nasdaq sought the SEC’s approval to trade tokenized stocks that offer on-chain holders the same rights and protections as traditional stockholders. This would be different from current offerings by xStocks, Robinhood, or Ondo. 

Nasdaq, the leading U.S. public securities exchange, has formally requested approval from the SEC to begin trading tokenized stocks. This emerging segment is gaining momentum, with analysts predicting it could surpass stablecoins as the dominant narrative in digital finance.

Under U.S. President Donald Trump’s pro crypto administration, regulatory conditions have become more favorable, encouraging major players from traditional finance (TradFi) to explore on-chain stock offerings.

As tokenization reshapes market infrastructure, the convergence of blockchain and equities is drawing serious institutional interest.