Nasdaq is working with Kraken and Kraken infrastructure affiliate Bakkt to expand stock tokenisation, Cointelegraph reported on March 9 local time.
Nasdaq plans to link traditional finance and blockchain-based networks while keeping stock issuers’ rights. To do that, it is developing a stock conversion gateway in cooperation with Kraken parent Payward and Bakkt, which provides the stock token issuance platform xStocks.
Nasdaq CEO Tal Cohen (탈 코헨) said, "Tokenisation has the potential to bring innovation to the financial ecosystem, and will improve investor access and the way issuers engage shareholders."
The plan is based on a tokenisation proposal Nasdaq submitted to U.S. securities regulators in 2025.
Nasdaq and Kraken plan to design tokenised stocks so they can move seamlessly between regulated markets and global on-chain markets while protecting issuers’ rights and maintaining regulatory compliance and price integrity.
Cohen said, "Listed companies must always be at the center of the stock market ecosystem, and this tokenisation approach will contribute to supporting listed companies and increasing global access to the U.S. stock market."
Chi-gyu Hwang
delight@d-today.co.kr