Exodus will partner with Superstate to tokenize its own stocks that are available in Solana first.
summary
- Exodus issues tokenized assets to represent their own Class A stock.
- The company will leverage Open Bell, Superstate’s stock token issuance platform
- The tokenized stock was first launched on Solana and with plans to expand to other networks
Tokenization is a growth trend in the crypto market Exodus I’m leading the way with examples. Above Friday, August 8ththe independent crypto platform has announced a partnership with Superstate to tokenize stocks.
Specifically, Exodus issues a stock token representing Class A stock. These tokens were first launched on the Solana (SOL) network, and there are plans to expand to several other major public blockchains.
“Exodus has always believed in creating a world where all assets are tokenized, says JP Richardson, CEO of Exodus.
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Exodus plans to expand to other major networks
Exodus will utilize Open Bell, Superstate’s stock token issuing platform. This allows Exodus to fire its own tokens across several major networks, in addition to Algorand (Argo)’s existing tokenized inventory. So far, the company has revealed plans to issue tokens, particularly on the Ethereum (ETH) network.
“Exodus has always been a pioneer in tokenization, and the superstars are proud of their partners on this journey. Together, we are trying to change the future of the public market in chains.”
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Tokenized stocks often rely on a wrapped model that does not directly involve the original issuer. In contrast, Superstate is an SEC registration transfer agent that works directly with the Token issuer.
This allows the token to represent stocks digitally and serve as a record of legal ownership in the blockchain.
read more: “Tokenized securities are still securities”: Will Hester Perth’s statement help to advance the trend in tokenizing stocks?
