Nasdaq Seeks to Revolutionize the Stock Ledger with Tokenized Shares

ImpermanentLossFan · 2026-01-31T07:06:18+00:00

Nasdaq has proposed to the SEC to transform the trading and settlement of listed assets by introducing tokenized versions, maintaining the liquidity and security of the traditional securities book. The initiative includes T+0 settlements using blockchain technology, potentially revolutionizing the financial market.

ImpermanentLossFan

2026-01-31 07:06:18

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Nasdaq has submitted a strategic proposal to the U.S. Securities and Exchange Commission (SEC) to transform the way listed assets are traded and settled. The initiative aims to authorize the trading of tokenized versions of stocks and exchange-traded products (ETPs), maintaining their rights and CUSIP codes in the same securities book where they currently operate.

An Ambitious Proposal to the SEC

Nasdaq’s proposal represents a significant step toward modernizing the securities market. According to industry data, these tokenized securities would operate within the traditional securities book, without fragmenting existing liquidity or disrupting established trading mechanisms. This means investors and traders could access digital assets without abandoning the security protocols and regulations in place.

How the New Tokenized Securities Book System Would Work

The proposed system would maintain full compatibility with the current securities book. Although the mechanism is innovative, the architecture ensures that each transaction in the digital securities book retains the legal validity of traditional instruments. The structure is specifically designed to prevent liquidity fragmentation, one of the biggest challenges in the tokenization of financial assets.

T+0 Settlement and the Role of Blockchain

One of the most revolutionary features is the possibility of using blockchain technology in the settlement process through the DTC (Depository Trust Company) distributed ledger platform. The proposal contemplates T+0 settlement — that is, virtually instant settlement on the same day as the transaction — something that is currently impossible in traditional markets. This improvement would significantly reduce operational risk and accelerate capital flow.

Implementation Timeline

If the SEC approves this regulatory change, Nasdaq projects a pilot launch by the end of the third quarter of 2026. The company anticipates that this initiative could become a model for other global markets, fundamentally transforming the structure of the securities book in the digital age.

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