On November 4, 2026, Five North sold approximately 14,461 CNTN shares to DRW Cumberland on the Canton Network, with Flowdesk facilitating the transaction, for a total of about $30,296. The first on-chain trade was executed at roughly $2.08 per share through a liquidity pool managed by Tradecraft’s automated market maker. Fairmint TA LLC, an SEC-registered on-chain transfer agent, handled the issuance and maintained the official ownership register on the blockchain. The transaction marks the first trading of tokenized US stocks under the SEC’s Innovation Exemption, which provides temporary relief to venues trading tokenized securities. Despite volume caps and access controls, the framework is positioned as a controlled pilot rather than an immediate alternative to Nasdaq liquidity.
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