Novogratz’s Galaxy Is Talking With SEC About Tokenizing Shares

Billionaire Michael Novogratz said Galaxy Digital Holdings Ltd. is talking with the US Securities and Exchange Commission about tokenizing its own stock as well as other equities using its digital-asset platform.

The company met with the SEC’s crypto task force in March to discuss registering Galaxy’s own stock on a blockchain. The company, which managed about $7 billion in assets as of the end of March, begins trading on Nasdaq Friday, after being previously listed only in Canada.

The idea is to turn Galaxy’s shares into tokens that could be used in decentralized-finance applications, such as lending and trading. The ...