Injective said on Thursday it has filed transfer agent registration with the U.S. Securities and Exchange Commission in an effort to move one of the core functions of recording securities markets to blockchain infrastructure.
Transfer agents are a key part of the U.S. market infrastructure, maintaining shareholder registers and tracking changes in security ownership. Injective, a Layer 1 blockchain focused on decentralized finance and tokenized real-world assets, said bringing this feature to onchain would create a regulated path for issuing and managing tokenized assets.
Source: injection
If approved, the registration would take Injective beyond blockchain infrastructure for tokenized assets and into regulated systems that determine who legally owns a security. Injective said this approach could reduce delays and reconciliation between intermediaries.
“Tokenized securities and risk-weighted assets require regulatory-compliant infrastructure ownership registries that take less than a second to settle,” Injective wrote in a post on X, adding that its goal is to offer the opportunity at scale in the United States.
Injective did not identify the legal entity behind the filing or make a public filing with the SEC, and Cointelegraph could not independently verify the filing at the time of publication.
Related: Hackers tried to break into the Injective NPM suite to steal wallet keys
Capital markets infrastructure moves online
Customary financial institutions are increasingly turning to blockchain technology to modernize the infrastructure underlying capital markets. In addition to asset tokenization, exchanges and market operators apply the technology to distribute market data, issue securities, settle and other post-trade functions.
The Nasdaq was one of the most energetic. Last month, the exchange partnered with onchain financial data network Pyth to distribute its proprietary TotalView market data to blockchain applications. Earlier this year, Nasdaq also partnered with Kraken and tokenization company Backed to develop infrastructure that connects classic stocks to blockchain networks.
Intercontinental Exchange, the parent company of the Up-to-date York Stock Exchange, has also expanded its tokenization strategy by partnering with Securitize to develop an infrastructure for onchain stocks and exchange-traded funds designed to support 24/7 trading and instant settlement.
Meanwhile, Depository Trust & Clearing Corporation, a major provider of post-trade infrastructure for U.S. securities markets, is preparing to launch its tokenized Collateral AppChain platform to automate collateral management and settlement in financial markets.
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