Novogratz "In Talks with SEC to Tokenize Galaxy Stock"

Minseung Kang

Summary

Michael Novogratz, CEO of Galaxy Digital, announced that they are in talks with the SEC to tokenize their stock.
Galaxy is starting official trading on Nasdaq following its listing on the Canadian stock exchange and plans to tokenize stocks, bonds, and ETFs through its digital asset platform.
Novogratz emphasized that the SEC believes in the potential of cryptocurrency and the power of tokenized networks, highlighting the market's upward momentum.

Michael Novogratz, CEO of Galaxy Digital, stated that they are in discussions with the U.S. Securities and Exchange Commission (SEC) to tokenize their stock.

According to Bloomberg on the 16th, Novogratz said, "We are working with the SEC to tokenize our stock. The SEC believes in the potential of virtual assets (cryptocurrency), the power of tokenized networks, and this technology. It's time to change the horizon of possibilities."

Previously, Galaxy was reported to have met with the SEC's cryptocurrency task force in March to discuss registering their stock on the blockchain. Galaxy has been listed only on the Canadian stock exchange and will begin official trading on Nasdaq starting the 17th.

Novogratz stated, "In the long term, we plan to use Galaxy's digital asset platform to tokenize not only our stock but also other companies' stocks, bonds, and exchange-traded funds (ETFs) to offer them to traditional stock investors in the U.S."

He also emphasized, "Friday's Nasdaq listing is just the beginning," adding, "The market is regaining its upward momentum, and we are back at the starting line."