Asset tokenization is accelerating comprehensively: The Solana policy research organization is promoting the on-chain pilot project "Project Open".

Solana Policy Institute ( has partnered with three major industry partners to submit the "Project Open" pilot proposal to the SEC ), aiming to tokenize the issuance and trading of traditional stock securities through Blockchain technology, creating a new era of digitization in the American Capital Market.

Stepping into the Future: Project Open Creates an On-Chain Stock Trading Platform

Solana's policy research organization, financial technology company Superstate Inc., law firm Lowenstein Sandler LLP, and Solana-based DEX Orca have jointly submitted the "Project Open" pilot project, aimed at guiding traditional equity securities to be issued and traded through public blockchains like Solana, achieving the digital transformation of financial markets.

1/4 @solanainstitute, @superstatefunds and @orca_so, with support from @LowensteinLLP, have submitted a proposal to the SEC – dubbed Project Open – for a pilot project to enable the issuance and trading of equity securities on public blockchain networks like @solana.

— Solana Policy Institute (@SolanaInstitute) April 30, 2025

Instantly transparent and cost-saving: Project Open's three major visions

This proposal submitted to the SEC lists the core advantages of "Project Open", including:

Instant settlement: Transactions can be completed within seconds, significantly reducing the current settlement time of several days.

Higher Transparency: Strengthening the openness of market information and participant trust through blockchain technology.

Reduce costs: Decrease the involvement of intermediaries, saving on transaction, settlement, and operational expenses.

Miller Whitehouse-Levine, Executive Director of the Solana Policy Research Organization, emphasized:

We are working with the SEC and industry partners to create a more efficient, transparent, and inclusive online capital market.

Unveil the vision of tokenization: round-the-clock trading of stocks is no longer a dream

Project Open advocates that issuers can submit a registration statement to issue "tokenized shares (token shares)", while also adhering to current reporting obligations, balancing innovation and compliance.

The proposal aligns with the views expressed by BlackRock CEO Larry Fink in his annual letter to shareholders: "Every stock, every bond, every fund. All assets can be tokenized."

Tokenization not only accelerates the settlement process but also frees up funds that are frozen in the settlement procedures, thereby stimulating economic growth.

(BlackRock CEO Larry Fink is optimistic about asset tokenization; is this a positive sign for cryptocurrencies?)

On the other hand, the Chicago Mercantile Exchange (CME) also announced in March that it will collaborate with Google Cloud to promote an asset tokenization pilot program, which is expected to officially test in 2026. The goal is to achieve 24/7 trading without interruption in traditional financial markets through Google Cloud's Universal Ledger (GCUL) technology.

(24 / 7 Stock trading never stops! CME Group collaborates with Google Cloud to pilot asset tokenization, officially launching in 2026 )

The SEC's regulatory shift welcomes the wave of digital assets.

Since Paul Atkins officially took office as SEC Chairman last month, symbolizing a significant shift in regulatory direction for cryptocurrencies, the U.S. government may express openness and support for digital assets. Not only has it abolished controversial accounting guidelines for crypto assets, but it has also suspended lawsuits against several crypto companies and is widely soliciting industry opinions through multiple forums.

On the blockchain front, recent developments include Ondo Finance's Ondo Chain, as well as the Converge network launched jointly by Ethena and Securitize, both specifically designed for large institutions and focusing on asset tokenization. This highlights the prospect of this sector becoming an important part of financial infrastructure in the future.

As blockchain technology matures, if this pilot program is successfully approved, it is expected to become a key milestone in the integration of traditional and digital finance, propelling the U.S. capital market into a new era of immediacy and transparency.

This article discusses the acceleration of asset tokenization: Solana's policy research organization promotes a pilot for stock on-chain called "Project Open," which first appeared in Chain News ABMedia.