Securitize tokenizes Currenc Group shares

Securitize said on April 8 that it had put Currenc Group shares on Solana and Ethereum, turning a Nasdaq-listed stock into blockchain-based tokens. (prnewswire.com) The shares belong to Currenc Group, a Singapore-based payments company whose American depositary shares have traded on Nasdaq under the symbol CURR since September 3, 2024. (investors.currencgroup.com) Securitize said the tokenized shares are designed for round-the-clock trading, lower-cost transfers, fractional ownership down to six decimal places, and use in decentralized finance software. (prnewswire.com) Tokenization means creating a blockchain record that represents a real security, like a stock certificate rewritten as a programmable digital token. Securitize said Currenc used an issuer-led model, meaning the company itself took part in putting its equity onchain. (prnewswire.com) Solana has been pushing that public-markets pitch for months. In a roundup published April 5, the Solana Foundation said real-world asset value on the network had topped $2 billion and that Solana had settled about 94% of all-time onchain tokenized equity spot volume by late March. (solana.com) That same Solana roundup said the network had passed Ethereum in total real-world asset holders for the first time, reaching 182,000 holders by the end of March. It also pointed to Ondo’s expansion to more than 250 tokenized stocks, exchange-traded funds, and commodities on Solana and other chains. (solana.com) Currenc’s core business is cross-border payments. The company says its Tranglo remittance network covers more than 70 countries and 5,000 banks or e-wallet operators, and processed 2.94 million transactions worth $1.35 billion in the quarter ended March 31, 2024. (investors.currencgroup.com) The stock also comes with corporate baggage. Currenc said on March 5 that it had regained compliance after a Nasdaq deficiency notice tied to its annual meeting, and Securitize’s April 8 announcement said Currenc has also proposed a reverse merger with Animoca Brands. (investors.currencgroup.com) (prnewswire.com) The immediate change is simple: a public company’s stock now has a Solana version that can plug into the same blockchain rails already used for stablecoins, lending markets, and automated trading. (prnewswire.com) (solana.com)