# kaal:claim:5454054-018

**Claim.** Bringing NASDAQ-listed stocks on-chain removes the need to mint intermediary virtual representations of off-chain equities, because tokenized stocks are natively verifiable on blockchain ledgers, which reduces legal and operational friction.

**Type.** mechanism  **Support.** argued

**Holds when.**

- NASDAQ tokenized stock framework in operation

**Source quote.**

> By bringing NASDAQ-listed stocks on-chain, the need to mint intermediary virtual representations of off-chain equities as an accounting measure is eliminated. NASDAQ tokenized stocks are natively verifiable on blockchain ledgers. This is key as it reduces legal and operational friction.

**From.** Wulf A. Kaal, *Liquid Equity Rewards* (2025), NASDAQ's Tokenized Stock Framework and LER Scalability, page 18

**Cite as.** Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054

**Verify.** sha256 of source PDF `9f53a865e6f0e5424640779df8f9b50923cd7d05649301dd4cc727144749b6e6` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202025%20-%20Liquid%20Equity%20Rewards.pdf

**Topics.** tokenomics

**Keywords.** tokenized-stocks, nasdaq, ownership-verification, operational-friction

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