Galaxy will record shareholder votes onchain for its May annual meeting, marking one of the first real-world uses of tokenized equity governance. The move signals that blockchain-based shareholder participation is shifting from pilot stage to live corporate workflows.
Broadridge Financial Solutions, Inc.
Broadridge Financial Solutions said Monday its ProxyVote platform now supports both traditional and tokenized securities. Galaxy will be the first company to use the expanded system after previously issuing its shares onchain through Superstate.
Can Onchain Voting Modernize Equity Governance Systems?
The initial rollout will use the Avalanche Layer 1 blockchain to log voting activity. Broadridge said the platform will provide a unified interface to manage votes across registered, beneficial, and tokenized shareholders in a single view.
Proxy voting remains a core function of equity ownership, allowing investors to weigh in on corporate decisions. By moving this process onchain, firms aim to improve transparency, auditability, and participation rates compared with legacy systems.
“We've long believed that tokenization will reshape capital markets,” said Galaxy CEO Mike Novogratz.
Still, can blockchain-based voting systems gain traction beyond early adopters in public markets?
The development aligns with a broader push toward tokenized equities. Firms such as Sharplink and Forward Industries have also issued blockchain-based shares, while Superstate’s Opening Bell platform enables companies to bring native equity onchain.
Adoption remains limited, but the potential use cases extend beyond governance. Tokenized shares could be used as collateral in decentralized finance (DeFi) or enable real-time participation through blockchain wallets, expanding how investors interact with public companies.
Broadridge said its goal is to streamline annual meetings for firms operating across both traditional and tokenized formats. The next phase will depend on execution at Galaxy’s upcoming vote, where markets will assess whether onchain governance can operate reliably at scale.
