The tokenized shares would carry the same shareholder rights as traditional stock, with round-the-clock trading and immediate settlement under the SEC’s innovation exemption.
Canton Strategic Holdings, a Nasdaq-listed company formerly known as biotechnology firm Tharimmune, announced plans to tokenize its common shares on the Canton Network, with trading expected to begin as soon as Nov. 2.
According to a Thursday announcement, the company partnered with TSV LLC, a trading venue for tokenized securities, and Fairmint, a US Securities and Exchange Commission-registered transfer agent, to bring its shares onto the blockchain. The tokenized shares would carry the same shareholder rights as the company’s Nasdaq-listed stock.
The Nasdaq-traded issue, under the ticker CNTN, currently trade an average daily volume of 757,704 shares, according to Yahoo Finance data. At last look, the stock was up more than 4.5% on the day, trading at roughly $2.13 apiece, with a market cap of $170 million.
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