The US Nasdaq stock exchange is prioritizing SEC approval for tokenized versions of stocks listed on the exchange. Nasdaq’s head of digital assets strategy, Matt Savarese, is pushing for quick approval, emphasizing they are not trying to overhaul the system. The proposal, submitted on Sept. 8, aims to allow investors to buy and sell stock tokens on the exchange.

Savarese spoke to CNBC, stating Nasdaq is aiming to be an innovator by bringing tokenization into the mainstream under SEC rules. The crypto industry is divided on tokenized equities. Galaxy Digital CEO Mike Novogratz announced the company became the first Nasdaq-listed company to tokenize its equity on the Solana network.

However, skepticism remains in the crypto industry about the impact of tokenized equities. Rob Hadick, general partner at crypto venture firm Dragonfly, believes tokenized stocks may not significantly boost the crypto industry as predicted, especially if they use layer-2 networks, causing value leakage. The conversation around tokenized equities continues to generate debate within the industry.

Read more at Cointelegraph: Nasdaq Digital Assets Head Says Tokenized Stocks Are A Priority