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3w 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
Fg nexus to tokenize nasdaq listed shares on ethereum in securitize tie up

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.