Nasdaq Files Proposal to List Tokenized Stocks with SEC
Nasdaq has submitted a rule change proposal to the SEC for listing tokenized stocks, integrating blockchain technology into traditional finance. This development may significantly benefit assets like XRP.
Key Details of Nasdaq's Proposal
- Tokenized stocks can be traded alongside traditional stocks on the same order book.
- Market participants can choose to clear and settle trades using a designated tokenized flag.
- This move could increase adoption of blockchain networks such as Ethereum, Solana, and XRP Ledger (XRPL).
- Galaxy Digital recently became the first Nasdaq-listed company to tokenize its stock on Solana.
Experts suggest Ethereum may be the primary platform for stock tokenization, while Solana and XRPL are noted for their speed and cost efficiency. Solana's recent Alpenglow upgrade aims to improve transaction finality, and XRPL has introduced compliance amendments to encourage institutional adoption.
XRP as the Bridge Currency
Versan Aljarrah of Black Swan Capitalist stated that all tokenized assets will eventually route through XRP, potentially moving trillions in value on-chain via the XRP Ledger. Predictions indicate that if 10% of global assets are tokenized on XRPL, the XRP price could reach $473,214. Ripple anticipates that 10% of global assets will be tokenized by 2030, although no significant stock has been tokenized on XRPL yet.
The current price of XRP is approximately $2.95, reflecting a decline over the last 24 hours.
