Tokenized Stocks Take Next Step With First On-Chain Vote for Galaxy Shareholders
Analysis
Price Impact
MedThis news directly impacts the avalanche ecosystem as broadridge, a fintech company, is building on avalanche's network. while it's a positive development for tokenized stocks and governance, the direct impact on avax's price might be moderate in the short term as it's a utility development rather than a direct demand driver for avax itself.
Trustworthiness
HighPrice Direction
BullishThe news introduces a new real-world utility for tokenized assets and blockchain technology, specifically within the financial sector. this is a step towards bridging traditional finance and crypto, which is generally bullish for the underlying blockchain technology and its native token (avax in this case). increased adoption and use cases can lead to higher demand.
Time Effect
LongThe full impact of tokenized stocks and on-chain governance will likely unfold over a longer period as the technology matures and regulatory clarity improves. this event marks an early but significant step in that direction, suggesting potential for sustained growth and adoption.
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Article Content:
In brief Broadridge is enabling on-chain shareholders to participate in proxy voting via its own Avalanche-based layer-1 network. The firm will first work with Galaxy Digital to allow on-chain holders of GLXY to participate in the firm's May shareholder vote. Shares in both firms are up on Monday as the broader market rebounds. Tokenized equities are getting a utility boost, soon enabling proxy voting in an annual shareholder vote for equity holders of Galaxy (GLXY). Holders of the tokenized version of GLXY will be able to participate in the vote in May via Broadridge’s tokenized governance platform, built on top of the firm’s own Avalanche -powered layer-1 network. "We've long believed that tokenization will reshape capital markets, and this is a meaningful step towards a tokenized equity market," said Galaxy CEO and founder Mike Novogratz, in a statement. “Proxy voting is a core feature of equity ownership, and bringing proxy voting on-chain for a public company is not theoretical anymore.” Another Fortune 500 company is building on Avalanche. @Broadridge , a fintech company that processes trillions from thousands of public companies, is bringing proxy voting onchain, powering shareholder governance globally. pic.twitter.com/dOTi7KYRTl — Avalanche🔺 (@avax) April 6, 2026 Broadridge will integrate its ProxyVote platform into digital wallets, where investors can submit their votes as well as receive investor materials. “Ensuring accurate, scalable, and cost-effective governance has never been more critical to supporting the growth of tokenized equities,” said Broadridge CEO Tim Gokey, in a statement. Earlier this month, the Nasdaq received formal approval from the United States Securities and Exchange Commission (SEC) to trade tokenized stocks in a pilot program. That comes shortly after major crypto firms—including Coinbase, Kraken, and Binance—have fueled their own tokenization initiatives aimed at connecting them to more structured and traditional financial products. But the trend is not advancing without some caution. On Monday, the International Monetary Fund (IMF) warned in a new report that the growth of tokenized finance could amplify a financial crisis . Shares of Broadridge (BR) and Galaxy (GLXY) are up 0.8% and 1.79% respectively on the day, recently changing hands at $161.91 and $17.96 . Representatives for the firms did not immediately respond to Decrypt’s request for comment. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!