Svmuu News: The SEC has approved Nasdaq's framework for trading certain tokenized stocks and ETFs, allowing the relevant securities to be issued, cleared, and settled in the form of blockchain-based tokens, while trading in parallel with traditional stocks. Under this system, investors can hold tokenized securities in digital wallets, with clearing and settlement handled by the U.S. Depository Trust and Clearing Corporation (DTCC). Nasdaq stated it will collaborate with cryptocurrency exchange Kraken to distribute stock tokens globally. Val Gui from Kraken's tokenized stock platform xStocks said this move signals that "the $126 trillion stock market is shifting onto the blockchain track." Maylea Ma, Deputy General Counsel at 1inch, noted that this model still involves trading through brokers and settlement via DTCC, with blockchain primarily serving as an alternative method for ownership record-keeping. (CoinDesk)