Nasdaq has filed an application with the U.S. Securities and Exchange Commission (SEC) to list tokenized stocks, marking a significant step into the digital asset space. Each token will be backed one-to-one by traditional stocks, offering the same dividends and ownership rights. This initiative represents Nasdaq's transition from indirect experimentation to direct involvement in blockchain technology, utilizing a regulated custody model and permissioned network. The move comes amid growing institutional interest in tokenizing real-world assets, with Nasdaq joining other global exchanges in exploring blockchain-based trading platforms. While some critics question the need for tokenization in the efficient U.S. stock market, proponents see it as a sign of blockchain infrastructure maturing within existing regulatory frameworks.