Hey folks, if you're knee-deep in the world of blockchain and meme tokens like the rest of us at Meme Insider, you've probably heard the buzz about real-world assets (RWAs) making their way onto decentralized networks. Tokenizing traditional stocks—basically, turning shares of a company into digital tokens on a blockchain—sounds like sci-fi, but it's happening right now. And in a bold move, crypto powerhouse Galaxy Digital has chosen Solana as the platform for tokenizing its own Class A Common Stock (ticker: GLXY). But why Solana, and not the more hyped Ethereum Layer 2 solutions (L2s) that promise scalability? Let's dive into the details from a recent podcast episode featuring Galaxy's Head of Firmwide Research, Alex Thorn.

First off, a quick explainer: Tokenized stocks mean you can hold, trade, and even self-custody actual SEC-registered shares of a Nasdaq-listed company like Galaxy on a public blockchain. This partnership with fintech firm Superstate allows shareholders to convert their traditional shares into on-chain versions, complete with the same legal rights and economic benefits. It's a game-changer for blending traditional finance (TradFi) with decentralized finance (DeFi), potentially opening up 24/7 trading, fractional ownership, and seamless integration with crypto wallets. Galaxy's move is historic—it's the first time a U.S. Nasdaq-listed equity has been tokenized on a public blockchain like this.

So, why Solana? In episode 900 of the "Bits + Bips" podcast, hosted by crypto journalist Laura Shin, Alex Thorn breaks it down. The clip shared in her recent [X post](https://x.com

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/laurashin/status/1966260598666076655) cuts right to the chase: Ethereum L2s just aren't ready for something as serious as tokenized stocks yet. Thorn points out that optimistic rollups (a popular type of L2) are either too decentralized—meaning there's no single party you can hold accountable if things go wrong—or they're so centralized that they require heavy regulation, much like traditional exchanges such as Nasdaq.

Imagine this: You're trading a security (that's fancy talk for a stock or bond), and due to some glitch or even malice, the settlement fails or fees skyrocket. On a regulated exchange, there are rules in place to compensate affected parties—broken trades get fixed, and investors are protected. But on L2s? Thorn argues there's a lack of clear recourse. "To me, a single sequence rollup with capability to either through negligence or malice impact the settlement fees or trading of a security—that looks a lot like Nasdaq," he says in the podcast. And Nasdaq is "heavily regulated to ensure that it doesn't negatively impact those shareholders." Without that maturity on L2s, Galaxy opted for a Layer 1 (L1) blockchain like Solana, which offers a more balanced, decentralized setup without the rollup risks.

Solana's appeal goes beyond avoiding L2 pitfalls. As Thorn highlights in Galaxy's own research, Solana is built for high-speed, low-cost transactions—think the "Nasdaq of blockchains." It boasts local fee markets (no global congestion spikes like on Ethereum), efficient networking, and a developer community that's quick on its feet. Since October 2024, Solana has dominated DEX (decentralized exchange) spot trading volume every month, thanks to its massive retail user base and easy on-ramps for fiat-to-crypto conversions. For tokenized stocks, this means faster settlements, lower fees, and broader accessibility, which could supercharge the RWA space.

This decision isn't just tech talk; it has big implications for the blockchain ecosystem, including the meme token world we love at Meme Insider. Solana has become a hotbed for meme coins like BONK and WIF, thanks to its speed and low costs. By anchoring major RWAs like GLXY on Solana, Galaxy is signaling confidence in the network's infrastructure, potentially drawing more institutional money and liquidity. That could mean better trading pairs, more volume, and even hybrid products blending memes with real assets—imagine meme-inspired tokenized funds!

Of course, it's not all smooth sailing. Critics in the replies to Laura's post pointed out Solana's past network outages, and some wondered if this is just self-interest since Galaxy is launching a Solana-based product. But Thorn's reasoning focuses on practicality: L2s need more time to mature for regulated assets. As the RWA market explodes—Galaxy predicts tokenized securities could hit $190 trillion in 20 years—this choice positions Solana as a frontrunner.

If you're a blockchain practitioner looking to level up, check out the full "Bits + Bips" episode for deeper dives into tokenization tech and Galaxy's vision. It's a reminder that while memes keep things fun, innovations like this are what drive real adoption. What do you think—will Solana steal the show from Ethereum for RWAs? Drop your thoughts in the comments, and stay tuned to Meme Insider for more on how these developments impact your favorite tokens.

For more on Galaxy's tokenized GLXY, head over to their research page. And if you're into podcasts, Laura Shin's Unchained is a must-listen for crypto insights.

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- Alex explains L2s aren't ready for tokenized stocks due to regulation needs.

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[🔗 "Laura Shin on X: "Galaxy launched its tokenized stock on Solana.

Yes, on Solana and not Ethereum layer 2s.

Why?

@intangiblecoins says that L2s are NOT ready for tokenized stocks. https://t.co/R7LOqMX3ue" / X" x.com](https://x.com/laurashin/status/1966260598666076655)

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🔗 **​[Laura Shin on X: "Galaxy launched its tokenized stock on Solana.

Yes, on Solana and not Ethereum layer 2s.

Why?

@intangiblecoins says that L2s are NOT ready for tokenize...
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🔗 "Galaxy Tokenizes GLXY Stock on Solana with Superstate" www.galaxy.com
🔗 "0x (@0xProject) / X" twitter.com
🔗 "Laura Shin (@laurashin) / X" x.com
🔗 "Laura Shin on X: "I'm getting a lot of questions about this tweet I ..." twitter.com
🔗 "Galaxy, Circle, Bitfarms Lead Crypto Stock Gains as Bitcoin Vehicles ..." www.coindesk.com
🔗 "Galaxy on X: " Read the full report: https://t.co/aGMfYUXoqn" / X" x.com
🔗 "Galaxy and Superstate Launch GLXY Tokenized Public Shares on ..." investor.galaxy.com
🔗 "Unchained - Apple Podcasts" podcasts.apple.com
🔗 "Galaxy Digital to tokenize its SEC-registered shares on Solana in ..." www.theblock.co

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🔗 ​Galaxy Tokenizes GLXY Stock on Solana with Superstate​
📄 Galaxy has partnered with Superstate to allow for tokenization of its Class A Common Stock on the Solana blockchain.
🌐 www.galaxy.com

🔗 ​0x (@0xProject) / X​
📄 While Wall Street closes, Solana never sleeps. Superstate's Opening Bell platform brings SEC-registered tokenized equities to Solana, starting with Ga...
🌐 twitter.com

🔗 ​Laura Shin (@laurashin) / X​
📄 Crypto journalist. Host @unchained_pod. Author, The Cryptopians. Sign up https://unchainedcrypto.com/newsletters/ Ads [email protected]
🌐 x.com

🔗 ​Laura Shin on X: "I'm getting a lot of questions about this tweet I ...​
📄 I'm getting a lot of questions about this tweet I wrote not long after I woke up What I meant is that when you have a crypto project with ...
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🔗 ​Galaxy, Circle, Bitfarms Lead Crypto Stock Gains as Bitcoin Vehicles ...​
📄 The company was a lead investor in Forward Industries' $1.65 billion fundraising closed today to build a Solana SOL $227.03 treasury vehicle.
🌐 www.coindesk.com

🔗 ​Galaxy on X: " Read the full report: https://t.co/aGMfYUXoqn" / X​
📄 Introducing Tokenized GLXY: Galaxy's Class A Common Stock is Now on Solana. From galaxy.com · 1:40 PM · Sep 4, 2025.
🌐 x.com

🔗 ​Galaxy and Superstate Launch GLXY Tokenized Public Shares on ...​
📄 By tokenizing on Solana, Galaxy's equity gains 24/7 market potential and near-instant settlement. "This is the first instance of a Nasdaq-listed ...
🌐 investor.galaxy.com

🔗 ​Unchained - Apple Podcasts​
📄 In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and block...
🌐 podcasts.apple.com

🔗 ​Galaxy Digital to tokenize its SEC-registered shares on Solana in ...​
📄 Galaxy's tokenized shares will be available to approved KYC'd investors who can hold and transfer them within their own crypto wallets.
🌐 www.theblock.co

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slug: "why-galaxy-chose-solana-for-tokenized-stocks-over-ethereum-l2s"
title: "なぜGalaxyはEthereum L2ではなくSolanaを選んだのか（トークン化された株式）"
description: "Galaxy Digitalが自社株をEthereum Layer 2ではなくSolanaでトークン化するという意外な選択の背景を掘り下げ、なぜAlex ThornがL2はまだ現実世界資産（証券）に対応する準備ができていないと考えるのかを解説します。"
tags: "Solana, Ethereum L2, Tokenized Stocks, Galaxy Digital, Real World Assets, Blockchain Technology, Crypto News, RWA"

In a recent tweet, crypto journalist Laura Shin shared a clip from her podcast "Bits + Bips" featuring Alex Thorn, Head of Firmwide Research at Galaxy Digital. The discussion revolves around Galaxy's decision to launch their tokenized stock on Solana instead of popular Ethereum Layer 2 (L2) solutions. If you're in the blockchain space, especially dealing with meme tokens on Solana, this move highlights why Solana continues to attract major players for high-stakes applications.

The Big Reveal: Tokenized GLXY on Solana

Galaxy Digital, a leading crypto investment firm, recently partnered with Superstate to tokenize their Class A Common Stock (GLXY) on the Solana blockchain. This isn't just any token—it's an SEC-registered security that gives holders the same rights as traditional shares. You can hold it in your own wallet, transfer it peer-to-peer (if both parties are KYC-approved), and potentially trade it 24/7. For now, automated market maker (AMM) trading isn't live, but they're working on compliant ways to enable it.

Why Solana? Solana is known for its high speed and low costs, making it a hotspot for meme tokens like Dogwifhat or Bonk. But for something as serious as tokenized stocks—also called real-world assets (RWAs)—reliability is key. Thorn explains that Ethereum L2s, which are scaling solutions built on top of Ethereum to make transactions faster and cheaper, fall short in one critical area: accountability and regulation.

Why Not Ethereum L2s? Alex Thorn Breaks It Down

In the clip, Thorn compares single-sequencer rollups (a common design in many L2s like Optimism or Arbitrum) to centralized exchanges like NASDAQ. A sequencer is basically the entity that orders and processes transactions on the L2. If it messes up—whether by accident or on purpose—it could disrupt trading or settlement of securities, affecting shareholders' money.

NASDAQ is heavily regulated to prevent this and ensure there's recourse if something goes wrong, like compensating users for broken trades. L2s, however, aren't there yet. Thorn points out two paths for L2s:

• Become more decentralized: Spread out control so there's no single party to blame if issues arise.
• Register and accept oversight: Subject themselves to strict regulations to protect investors.

Until that happens, Thorn argues, L2s aren't ready for tokenized securities. This regulatory gap pushed Galaxy toward Layer 1 (L1) blockchains like Solana, which offer a more mature, battle-tested infrastructure without the same sequencer risks.

For context, Solana operates as a single, unified L1 chain with multiple validators, providing parallelism (handling many transactions at once) and quick finality. This makes it appealing for RWAs, where downtime or errors could have legal consequences.

Implications for Meme Tokens and the Broader Crypto Ecosystem

While this news is about stocks, it has ripple effects for meme token enthusiasts. Solana's ecosystem thrives on fast, cheap trades—perfect for pumping memes or flipping NFTs. Galaxy's endorsement validates Solana's tech for enterprise-level use, which could bring more liquidity and tools to the chain. Imagine meme tokens benefiting from improved wallets, DEXs, or even hybrid RWA-meme products down the line.

Plus, as RWAs grow on Solana, it could attract traditional finance (TradFi) players, boosting overall adoption. If you're building or trading meme tokens, keeping an eye on these developments means staying ahead of tech upgrades that might supercharge your strategies.

Community Reactions and What's Next

The tweet sparked discussions on X, with users debating L2 readiness and Solana's edge. Some pointed out Solana's past outages, while others praised its dev tools and speed. Galaxy is already tracking onchain GLXY supply via a Dune dashboard, and the token contract is live on Solana Explorer.

If you want the full scoop, check out the original tweet by Laura Shin or listen to the "Bits + Bips" episode on Unchained Podcast. As blockchain evolves, moves like this show how chains like Solana are bridging crypto and traditional finance—exciting times for meme insiders and beyond!