Securing approval from the SEC for the introduction of tokenized securities is Nasdaq’s main priority, according to Matt Savarese, head of the exchange’s digital division, in an interview with CNBC.
“We will move [in this direction] as quickly as we can. We need to carefully review public comments and then respond to regulators’ questions as they arise,” he noted.
According to him, in September, Nasdaq submitted a proposal to the Commission requesting permission for clients to buy and sell exchange tokens as digital equivalents of public company shares.
The platform aims to be a pioneer in the ecosystem but does not seek to redefine investment methods, Savarese added. He pointed out that Nasdaq was the first to transition “paper” trading to electronic form.
“We are not going to change the system. We want everyone to join this process and make tokenization more popular,” emphasized the top manager.
The topic has become one of the most discussed among major players in recent years. Standard Chartered anticipates that by 2028, the total market value of tokenized real-world assets, excluding stablecoins, will grow to $2 trillion.
At the time of writing, the total capitalization of the sector stands at $36 billion.
Source: RWA.xyz.
The largest market share is held by digital private loans and U.S. Treasury bonds. The remainder is comprised of commodities, alternative funds, and various securities.
Back in November, Europe’s largest asset management company, Amundi, launched its first tokenized money market fund shares on the Ethereum blockchain.