Solana co-founder tells US firms opposing tokenized stock trading to go private

Solana is a blockchain associated with fast on-chain activity, and tokenized stocks place traditional equity exposure into that kind of trading environment. Anatoly Yakovenko’s comments fit a broader push to move more market activity onto blockchains while keeping the underlying shares tied to public companies. The dispute is happening now because tokenized stock trading has become more visible and more firms are taking a public stance against it.

For investors, brokers, and platforms, the practical question is whether U.S. public companies will tolerate their shares being represented and traded on-chain. If firms refuse, tokenization providers may have to find different listings, different structures, or different issuers. If firms accept, they open the door to a trading model that sits outside the familiar public-market setup.

The fight is really about who sets the rules for access to equity markets: issuers, exchanges, or the platforms building tokenized products. Public-company shares have usually been governed through exchange rules, disclosure systems, and transfer controls, while on-chain trading tries to make them behave more like crypto assets. That creates a direct tension between market openness and corporate control over how stock can circulate.

Still unresolved is which companies will actually permit tokenized trading of their shares and what form that permission would take. It is also unclear how many household-name firms will keep resisting, and whether the market will settle on a standard that issuers can accept. The next clear signal would be a specific public company, exchange, or tokenization platform setting out the terms for on-chain trading.