Exodus will partner with Superstate to tokenize its own shares, first available on Solana.
Summary
- Exodus will issue tokenized assets to represent its own Class A shares.
- The firm will leverage Superstate’s stock token issuance platform, Open Bell
- Tokenized stocks will first launch on Solana, with plans to expand to other networks
Tokenization is a growing trend in crypto markets, and Exodus is leading by example. On Friday, August 8, the self-custodial crypto platform announced a partnership with Superstate to tokenize its shares.
Specifically, Exodus will issue stock tokens that represent its Class A shares. These tokens will initially launch on the Solana (SOL) network, with plans to expand them to several other major public blockchains.
“Exodus has always believed in building a world where every asset becomes tokenized, said JP Richardson, CEO of Exodus. “This strategic step lays the foundation for the future of finance and digital asset adoption.”
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Exodus plans expansions to other major networks
Exodus will leverage Superstate’s stock token issuance platform, Open Bell. This will enable Exodus to launch its own tokens on several major networks, in addition to its existing tokenized stocks on Algorand (ALGO). So far, the company has revealed plans to issue its tokens on the Ethereum (ETH) network, among others.
“Exodus has always been at the vanguard of tokenization, and Superstate is proud to partner on this journey. Together, we’re going to transform the future of public capital markets on-chain,” said Robert Leshner, CEO of Superstate.
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Tokenized stocks often rely on wrapped models that do not directly involve the original issuer, which can expose holders to counterparty risk if custodians default. In contrast, Superstate is an SEC-registered transfer agent that works directly with token issuers.
This enables the tokens to digitally represent shares and serve as a record of legal ownership on the blockchain.
Read more: ‘Tokenized securities are still securities’: Does Hester Peirce’s statement help to advance the stocks’ tokenization trend?
