Galaxy Digital has tokenized its common stock on the Solana blockchain, marking the first time an institutional equity has been fully digitized on-chain. Unlike synthetic tokenized stocks, these digital shares carry full shareholder rights, representing a milestone in compliant, programmable equity markets.

Why it’s a top read this week:

This isn’t an experiment; it’s real equity moving on blockchain rails. For Deal Box, it validates the trajectory we’ve been building toward, where tokenized ownership, compliant governance, and programmable settlement converge into the future of capital markets.

BlackRock and Franklin Templeton are exploring ways to bring traditional investment products (including ETFs) onto blockchain rails. They’re working with crypto exchange partners to develop novel tokenized investment vehicles that combine regulatory compliance with the liquidity and flexibility of tokenization.

Why it’s a top read this week:

Institutional asset managers are crossing the Rubicon. Moves like this strengthen the bridge between TradFi and on-chain finance. For Deal Box, this aligns with our strategy of packaging issuers and structuring tokenized funds with institutional credibility.

August CPI rose 0.4%, lifting annual inflation to 2.9%—above forecasts. CPI tracks the prices households pay for everyday goods and services, showing inflation at the consumer level. By contrast, PPI, which measures input costs for producers, fell 0.1%, signaling softer pressures in the supply chain.

Markets took the mixed data in stride and still price in a 25 bps Fed cut in September, with odds above 70%.

Why it’s a top read this week:

These metrics are the pulse of inflation. CPI tells us how consumers feel it; PPI tells us what’s coming next in the supply chain. Together, they frame the Fed’s decision set. Lower rates expand the risk window for private markets, tokenized assets, and alternative credit—the areas Deal Box structures and packages for investors.

Nasdaq has filed with the SEC to allow tokenized versions of stocks and ETFs to trade directly on its main U.S. market. Unlike synthetic tokens, these products would preserve the same rights and protections as traditional securities. If approved, it would be the first time a major U.S. exchange formally integrates tokenized assets into its regulated infrastructure.

Why it’s a top read this week:

When Nasdaq makes tokenization part of its core market, the rails of capital markets are being re-engineered in plain sight. For Deal Box, it’s further validation that compliant tokenized assets aren’t fringe—they’re becoming central to how ownership and liquidity will move.

The Deal Box Innovation Forum is officially headed to Hawaii. 🌺 Your feedback helped shape the plan, and now we’re finalizing the details, venue, dates, and agenda.

We’ll share the full announcement in the coming weeks.

Thanks for reading the latest Dispatch. If you made it this far, you’re part of the shift. 🌊

See you next week—with more plays worth tracking.

— Thomas