Dan Kramer, CEO of Equiniti, took the stage at Nasdaq to push a vision where stock ownership is fully tokenized but still backed by the full legal rights investors expect. His message was clear: blockchain can’t just be another way to trade shares. It must preserve voting rights, dividends, and shareholder protections exactly as traditional systems do.
This comes as Bullish prepares to acquire Equiniti for $4.2 billion, a deal set to close early next year. Equiniti handles shareholder services, and this integrated tokenization model means shares issued as tokens on a blockchain still rely on Equiniti as the legal custodian of ownership.
Nasdaq’s SEC Approval Gives Tokenized Securities Real Teeth
Kramer’s talk gained extra significance because Nasdaq recently secured SEC approval to settle equity trades using tokens. This isn’t theoretical or experimental. It’s official regulator approval that tokens can represent real shares on a major exchange today.
Without a trusted transfer agent like Equiniti managing records and corporate actions, tokenized stocks risk becoming hollow shells with no enforceable rights. Kramer warned against third-party tokens issued without issuer consent, which can trick investors while lacking legal backing.
Kramer assumed leadership at Equiniti’s Global Shareholder Services in early 2025, positioning the company just ahead of Bullish’s multibillion-dollar bid. With Nasdaq’s new regulatory endorsement, token-settled stock trades will need solid legal infrastructure, confirming Equiniti’s essential role.
As blockchain adoption intensifies, this model could bridge the gap between investor demand for digital assets and the regulatory framework that sustains market trust.
This content is for informational purposes only and does not constitute financial advice.
