Canton Strategic plans tokenised shares for November launch
Key points
- Canton Strategic Holdings plans to offer tokenised versions of its Nasdaq-listed shares through TSV.
- The proposed launch could begin as early as 2 November, extending trading beyond conventional market hours.
- Fairmint will issue the shares and maintain blockchain ownership records, while tokenised holders retain existing shareholder rights.
Canton Strategic Holdings (NASDAQ:CNTN) plans to bring its shares onto TSV, with trading expected to start as early as 2 November.
The agreement connects the Nasdaq-listed company with TSV, a venue designed for tokenised US equities on the Canton Network.
“Tokenization creates more efficient access to equity markets for investors and greater transparency for issuers,” according to Canton Strategic Holdings Chairman and CEO Mark Wendland.
The proposed listing follows TSV’s notification to the US Securities and Exchange Commission under its 17 September Innovation Exemption framework.
“We were the first to formally notify the SEC of our intent to operate a tokenized securities venue, and we wanted our first listing to set the standard,” according to TSV CEO Ali Abrar.
Fairmint, through its SEC-registered subsidiary Fairmint TA, will issue the tokenised shares, maintain ownership records and oversee transfer compliance.
The shares are intended to carry the same rights as Nasdaq-listed stock, with approved participants accessing 24-hour trading and atomic settlement through Tradecraft.
Following the announcement, Canton Strategic Holdings shares were up 0.49% at $2.050.
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