Wall Street and crypto race to tokenize stocks, now eyeing private equity

The race to put shares on a blockchain is spilling from public stocks into private equity, and the big names are picking sides. Nasdaq, Inc. (NDAQ) put $100 million into blockchain firm Payward to build the rails, while Robinhood Markets, Inc. (HOOD) keeps pushing its own stock tokens. The fight over who controls it turned public when AMC ENTERTAINMENT HOLDINGS, INC. (AMC) blasted Robinhood for offering tokens tied to its shares without permission. Newer players like Securitize Corp. (SECZ) argue shares should be issued directly onchain, not wrapped.