# US SEC Approves Nasdaq Tokenized Securities Trading, Stocks Go On-Chain

According to the plan, eligible stocks and ETFs can be cleared and settled in the form of on-chain tokens within existing trading systems, sharing the same order book, identical trading priority, and fully consistent shareholder rights with traditional stocks. The pilot advances based on the Depository Trust & Clearing Corporation (DTC) tokenization plan, allowing investors to choose whether to settle in token form when placing orders, with the system completing on-chain processing after trading.

Nasdaq stated that except for settlement methods, trading rules, market data, fee structures, and regulatory monitoring remain unchanged, with tokenized securities fully subject to the current securities law framework. Industry observers believe this move signals that "US stocks on-chain" has officially entered the regulatory implementation phase, potentially reshaping the securities issuance, trading, and settlement system.