Interview | DeFi vs Nasdaq: who wins the race to tokenize real-world assets?

Joris Delanoue, CEO and co-founder of Fairmint, spoke to crypto.news about the ramifications of Nasdaq’s tokenized equity push.

Nasdaq’s quiet filing with the Securities and Exchange Commission might become one of the most important milestones for tokenized equities. The exchange filed for a license to issue tokenized stocks, potentially reshaping how securities are traded.

To explore the ramifications of this move, crypto.news spoke with Joris Delanoue, CEO and co-founder of Fairmint, a platform that enables companies to issue tokenized equities. He explained what the filing means for equity tokenization and whether DeFi can compete with Nasdaq.

crypto.news: What is the significance of Nasdaq’s SEC filing?

Joris Delanoue: Nasdaq’s recent filing is a pivotal moment in the evolution of equity markets, highlighting that the future of equity ownership will increasingly be digital, programmable, and efficient. While it may not immediately prompt all exchanges to follow suit, Nasdaq’s leadership will likely inspire others to explore tokenized securities. The move reflects a significant shift towards modernization, signaling a broader trend towards digital securities.

CN: Can DeFi firms compete with Nasdaq’s tokenized equities?

JD: DeFi firms can offer compelling alternatives, but the difference lies in the approach to tokenization. Platforms like Robinhood or Kraken that provide tokenized shares typically represent claims on shares held by intermediaries, not true ownership.

True tokenization involves embedding ownership and rights directly in the smart contract, with the security itself being natively on-chain. Fairmint’s model exemplifies this approach, as it has already issued over $1B of equity directly on-chain.

CN: Will Nasdaq’s filing improve global access to tokenized stocks?

JD: If Nasdaq builds on a foundation of standardization and regulatory-first infrastructure, it will enhance global access by enabling tokenized assets to be distributed seamlessly across decentralized platforms, exchanges, and DeFi protocols.

This could increase the accessibility of Nasdaq-listed stocks for global investors, creating a more open and efficient financial system. As tokenized equities gain traction, they could provide more liquidity and broader participation from investors worldwide, particularly as the infrastructure matures.