First On-Chain Vote for Tokenized Galaxy Stock Holders

Tokenized stocks reach a significant milestone as Galaxy Digital shareholders gain ability to vote through blockchain technology.

Broadridge Financial Solutions is enabling on-chain Galaxy Digital (GLXY) holders to participate in May's shareholder vote through its Avalanche-based network. This represents the first on-chain proxy voting for a publicly traded company.

Galaxy CEO Mike Novogratz called it a meaningful step toward fully tokenized equity markets, emphasizing that proxy voting is fundamental to equity ownership.

The system integrates Broadridge's ProxyVote platform directly into digital wallets where investors can submit votes and access materials.

This development follows Nasdaq's recent SEC approval for tokenized stock trading and major crypto exchanges expanding their tokenization initiatives.

However, the International Monetary Fund warns tokenized finance could amplify financial crises in a new report.

Trading activity shows Broadridge (BR) up 0.8% to $161.91, while Galaxy (GLXY) rises 1.79% to $17.96 following the announcement.