Tokenized Stocks Could Be Coming To NASDAQ, Will | Crypto News
The Nasdaq has filed a proposed rule change with the SEC to record tokenized shares, marking a vital integration of blockchain technology into conventional finance (TradFi). Market consultants have predicted that XRP is one of the crypto belongings that stand to benefit massively from this transfer.
Nasdaq Files To List Tokenized Stocks
Nasdaq has filed with the SEC to enable traders to commerce tokenized shares on its platform. The exchange has proposed that these securities may very well be traded in either their conventional kind, without utilizing blockchain technology, or in their tokenized kind, using blockchain technology. Furthermore, the platform proposes that shares of these tokenized securities must be traded in the same order guide as the normal ones and with the same execution precedence.
Meanwhile, Nasdaq proposes that the market contributors who want to clear and settle their trades will observe their desire by deciding on a flag that the exchange will designate for this goal. When the market participant selects the tokenized flag, Nasdaq will then talk this to The Depository Trust Company, which is in charge of clearing trades.
This transfer means that blockchain networks, such as Ethereum, Solana, and the XRP Ledger (XRPL), might expertise elevated adoption as firms transition to tokenizing their shares. Notably, Galaxy Digital, last week, grew to become the first Nasdaq-listed company to tokenize its common stock on Solana.
Experts such as Tom Lee have made a case for why Ethereum would be the go-to platform for firms to tokenize their shares on. Meanwhile, Solana and the XRP Ledger (XRPL) also stand out due to their velocity and cost-efficiency. Solana not too long ago handed the Alpenglow improve proposal, which is able to scale back transaction finality. Meanwhile, the XRPL has launched new compliance amendments, which is able to incentivize establishments to undertake the community.
All Tokenized Assets Will “Route Through XRP”
In an X post, Versan Aljarrah, the founder of Black Swan Capitalist, commented on Nasdaq’s submitting to record tokenized shares and declared that all tokenized belongings will ultimately route and settle through XRP as the bridge currency. He added that this means trillions in worth will transfer on-chain, probably through the XRP Ledger.
Aljarrah reiterated that all worth flows through XRP. Notably, crypto analyst Costa not too long ago predicted that the XRP price might attain $473,214 if 10% of global belongings get tokenized on the XRPL.
This got here as Ripple predicted that 10% of global belongings might be tokenized by 2030. Ripple has so far made great strides in its tokenization push, although no notable stock has been tokenized on the XRPL as of yet. However, it’s price noting that Ondo Finance’s tokenized U.S. Treasuries fund is built-in on the XRPL.
At the time of writing, the XRP price is trading at around $2.95, down in the last 24 hours, according to data from CoinMarketCap.
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