Nasdaq’s $100 million investment in Payward, the parent company of Kraken, to develop tokenized equities infrastructure, alongside the London Stock Exchange Group’s partnership with Payward on UK tokenized shares and a planned 24-hour trading venue, mark a major acceleration. According to RWA.xyz, the distributed tokenized stock market reached $2.91 billion with $13.31 billion in monthly transfer volume as of September 10, with over 3.17 million holder addresses. Holder numbers surged 174% in 30 days while monthly transfer volume dropped nearly 53%, revealing a structural liquidity problem. The conflict over AMC tokens, offered by Robinhood without the company’s approval, illustrates the ownership and shareholder rights issues raised by tokenization.
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