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2h ago

FG Nexus to Tokenize Nasdaq-Listed Common and Preferred Stock on Ethereum

FG Nexus will use Securitize’s SEC-registered infrastructure to keep tokenized shares legally equivalent.

FG Nexus partners with Securitize to tokenize shares on Ethereum

Overview

  • Shareholders will be able to elect conversion of FGNX common stock into Ethereum-based tokens that preserve the same legal rights as traditional shares.
  • Dividend-paying perpetual preferred stock (FGNXP) is also slated for tokenization, which reports say would be a first for a U.S. exchange-listed dividend equity.
  • Onchain trading with near-instant settlement and automated compliance will run through Securitize’s SEC-registered broker-dealer, transfer agent services and regulated ATS.
  • The companies announced Thursday that tokens represent real stock rather than synthetic wrappers, with trading expected to occur on Securitize’s ATS; Securitize has previously tokenized BlackRock’s money market fund and Exodus shares.
  • The move follows FG Nexus’s Ethereum treasury pivot, including roughly $200 million raised for ETH purchases and holdings of about 47,331 ETH valued near $208 million.