Nasdaq’s push into tokenised equities gained fresh momentum this week as Matt Savarese, the exchange’s head of digital assets strategy, vowed to accelerate efforts to bring regulated blockchain-based stock products to market. Speaking after the exchange submitted a key proposal to the US Securities and Exchange Commission, Savarese said Nasdaq is prepared to address any regulatory questions promptly, emphasising that the technology is mature enough for mainstream financial adoption.
A step toward regulated tokenised equity markets
Nasdaq’s proposal outlines a framework for listing tokenised versions of traditional stocks, issued and traded on a permissioned blockchain under the exchange’s oversight. The initiative aims to marry the efficiency of distributed-ledger technology with the safeguards of regulated markets. Savarese said the exchange has “done the heavy lifting” on technical architecture, custody structures and market-surveillance tools, arguing that tokenisation could deliver faster settlement, reduced operational risk and greater transparency.
The move marks one of the most significant attempts by a major US exchange to integrate blockchain technology directly into its core equity-market operations. While several platforms outside the United States already facilitate tokenised securities, the SEC’s approval would represent a landmark moment for regulated American markets.
Regulatory caution remains the key obstacle
The SEC has historically approached crypto-linked products with caution, often citing investor-protection concerns, questions about custody, and the need for robust market-surveillance frameworks. Savarese acknowledged this dynamic but said Nasdaq’s submission reflects years of engagement with regulators and incorporates safeguards mirroring those used in traditional markets. He stressed that tokenised equities would not behave like crypto tokens but as regulated shares with blockchain-enabled infrastructure.
Analysts say the SEC’s response will determine how quickly tokenised markets can scale. If the regulator signals openness, other exchanges and broker-dealers are likely to follow, potentially accelerating a shift toward hybrid financial instruments that blur the lines between traditional trading and digital-asset markets.
Efficiency benefits drive institutional interest
Institutional investors have shown growing interest in tokenisation, particularly as settlement cycles shorten globally. Blockchain-based equities can enable near-instant settlement, streamlined reconciliation and automated compliance checks. For asset managers handling complex portfolios, these efficiencies reduce counterparty exposure and lower operational costs.
Financial firms in Europe and Asia have already piloted tokenised bonds, funds and equities, generating early evidence of cost reductions. Nasdaq’s initiative aims to position the United States as a competitive player in this space, especially as tokenisation becomes a central theme in the next phase of digital-asset innovation.
A cautious industry watches closely
Market participants view Nasdaq’s involvement as a validation of tokenisation’s long-term potential. The exchange’s reputation for regulatory compliance and technological sophistication could reassure institutions wary of volatility in the broader crypto sector. However, several analysts warn that the rollout may be gradual, noting that market infrastructure upgrades, broker-dealer integration and investor-education initiatives will require time.
Crypto-industry leaders see Nasdaq’s move as a turning point. If tokenised equities become widely accepted, they could bridge traditional and decentralised finance while shifting market architecture toward more automated, programmable systems.
A pivotal moment for US digital-asset policy
Nasdaq’s push arrives as policymakers debate how to modernise US market rules to accommodate emerging technologies. Some lawmakers argue that tokenisation represents a natural evolution of capital markets, while others warn of regulatory gaps that could expose investors to new forms of risk. The SEC’s review of Nasdaq’s proposal is likely to become a reference point in broader discussions about market modernisation.
For Savarese, the message is clear: the technology is ready, the infrastructure is built, and the exchange is prepared to move at full speed. What remains now is regulatory clarity — the factor that will determine whether tokenised stocks become a transformative force in American finance or remain an innovation waiting for approval.
Newshub Editorial in North America – 30 November 2025
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