Tokenized Stocks Could Be Coming To NASDAQ, Will XRP Benefit From This?

The Nasdaq has filed a proposed rule change with the SEC to record tokenized stocks, marking a major integration of blockchain expertise into conventional finance (TradFi). Market consultants have predicted that XRP is among the crypto belongings that stand to learn massively from this transfer. 

Nasdaq Files To List Tokenized Stocks

Nasdaq has filed with the SEC to permit buyers to commerce tokenized shares on its platform. The alternate has proposed that these securities may very well be traded in both their conventional type, with out utilizing blockchain expertise, or of their tokenized type, using blockchain expertise. Furthermore, the platform proposes that shares of those tokenized securities ought to be traded in the identical order e-book as the normal ones and with the identical execution precedence. 

Meanwhile, Nasdaq proposes that the market contributors who want to clear and settle their trades will word their desire by choosing a flag that the alternate will designate for this objective. When the market participant selects the tokenized flag, Nasdaq will then talk this to The Depository Trust Company, which is answerable for clearing trades.

This transfer signifies that blockchain networks, comparable to Ethereum, Solana, and the XRP Ledger (XRPL), might expertise elevated adoption as corporations transition to tokenizing their shares. Notably, Galaxy Digital, final week, grew to become the primary Nasdaq-listed firm to tokenize its frequent inventory on Solana. 

Experts comparable to Tom Lee have made a case for why Ethereum would be the go-to platform for corporations to tokenize their shares on. Meanwhile, Solana and the XRP Ledger (XRPL) additionally stand out as a consequence of their velocity and cost-efficiency. Solana just lately handed the Alpenglow upgrade 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 founding father of Black Swan Capitalist, commented on Nasdaq’s submitting to record tokenized shares and declared that every one tokenized belongings will finally route and settle via XRP because the bridge forex. He added that this implies trillions in worth will transfer on-chain, presumably via the XRP Ledger. 

Aljarrah reiterated that every one worth flows via XRP. Notably, crypto analyst Costa just lately predicted that the XRP price might attain $473,214 if 10% of worldwide belongings get tokenized on the XRPL. 

This got here as Ripple predicted that 10% of worldwide belongings will likely be tokenized by 2030. Ripple has to date made nice strides in its tokenization push, though no notable inventory has been tokenized on the XRPL as of but. 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 worth is buying and selling at round $2.95, down within the final 24 hours, in keeping with data from CoinMarketCap.