According to reports, the U.S. Securities and Exchange Commission (SEC) is preparing a government initiative to introduce an "innovation exemption" policy that would allow tokenized shares of publicly traded companies to be traded on decentralized platforms. The exemption could take effect as early as this week.
In the near future, blockchain-based parallel stock markets will become a reality.
Tokenized stock futures
This framework will test whether stock trading can be successfully migrated to cryptocurrency infrastructure.
It is noteworthy that stock prices of publicly traded companies can be provided without obtaining the support or consent of the companies themselves.
The transfer of traditional shareholder rights is a major obstacle for tokenized stocks. Third-party tokens are not issued by the underlying company, meaning they do not provide voting rights or dividend payments.
However, the U.S. Securities and Exchange Commission’s proposed rule requires decentralized platforms to actively provide these traditional rights to token holders. Platforms that fail to offer dividends or voting rights will lose their regulatory authorization.
Current tokenized stock market
Major global crypto-native financial companies have pioneered the issuance of tokenized stocks.
A third-party custodian purchases and holds actual shares of traditional stocks, while a specific platform issues corresponding crypto tokens. Typically, these tokens are ERC-20 tokens on networks such as Ethereum or Solana.
Major companies such as Backed Finance, Swarm Markets, and Dinari have successfully launched platforms offering these assets. Additionally, Ondo Global Markets launched over 100 tokenized U.S. stocks and ETFs in early 2026.
Some of the largest and most widely traded tokenized stock issuances include shares of companies such as Tesla, Google, and NVIDIA.