Broadridge Rolls Out Tokenized Shareholder Voting On Avalanche – Galaxy To Lead First Use Case

• The firm enabled proxy voting, corporate actions and disclosures across both traditional and tokenized securities within a single platform.
• Galaxy Digital will use Broadridge’s Avalanche-based system for its May shareholder meeting, becoming the first U.S. public firm to issue native tokenized equity.
• The move consolidates previously separate workflows for traditional and tokenized assets, streamlining operations for institutions and investors.

Broadridge Financial Solutions Inc. (BR) announced on Monday that it has expanded its governance platform to support digital assets, with Galaxy Digital (GLXY) set to use the system for tokenized equity voting at its upcoming annual meeting.

Broadridge said that this move would enable public companies, broker-dealers, wealth managers, and institutional and retail investors to manage proxy voting, corporate actions, and disclosures across both traditional and tokenized securities within their existing platforms and workflows. Previously, traditional securities and tokenized assets were handled separately, which will now all be under one place.

Galaxy Digital will be the first U.S. public company to issue native tokenized equity on a major blockchain, using Avalanche (AVAX), via Broadridge’s Layer 1 system for its annual shareholder meeting scheduled in May. Then, it can be distributed across multiple blockchains.

"Proxy voting is a core feature of equity ownership, and bringing proxy voting on-chain for a public company is not theoretical anymore," said Mike Novogratz, Founder and Chief Executive Officer of Galaxy Digital. "With Broadridge, we're combining the credibility of traditional market infrastructure with the advantages of blockchain to deliver a more efficient model for shareholders."

Galaxy’s stock rose over 2% in morning trade. On Stocktwits, the retail sentiment around GLXY remained in the ‘neutral’ zone, while chatter around it dropped to ‘high’ from ‘extremely high’ levels over the past day.

Wall Street's Growing Tokenization Push

The announcement builds on Broadridge's existing tokenization infrastructure, which already processes $8 trillion in tokenized assets per month, as the company extends its services across investor communications, proxy voting, and trading. 

Broadridge counts Vanguard, BlackRock (BLK), State Street (STT), and Morgan Stanley (MS) among its largest institutional investors. The move into on-chain governance comes as major financial institutions have been accelerating their push into tokenized assets, with several Wall Street firms announcing blockchain-based infrastructure projects over the past year.

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