Injective Tells SEC: "I Want to Keep the Receipts" — On-Chain 🧾

Injective said Thursday it has filed a transfer agent registration with the U.S. Securities and Exchange Commission, seeking to bring one of the core record-keeping functions of securities markets onto blockchain infrastructure. Transfer agents maintain shareholder records and track changes in securities ownership. Injective, a layer-1 blockchain focused on decentralized finance and tokenized real-world assets, said bringing that function onchain would create a regulated pathway for issuing and managing tokenized assets.

If approved, the registration would move Injective beyond blockchain infrastructure for tokenized assets and into the regulated systems that determine who legally owns a security. "Tokenized securities and RWAs need compliant ownership records on infrastructure that settles in less than a second," Injective wrote in an X post, adding that it aims to offer the capability at scale in the United States. Injective did not identify the legal entity behind the application or provide a public SEC filing, and Cointelegraph could not independently verify the submission at the time of publication. Under Injective's proposed model, the token itself would serve as the official record of ownership, allowing security tokens to be registered and transferred in seconds rather than the days or weeks often required in legacy settlement systems.

The filing arrives as traditional financial institutions increasingly apply blockchain to capital markets infrastructure beyond tokenization, including market data distribution, securities issuance and settlement. Last month, Nasdaq partnered with onchain financial data network Pyth to distribute its proprietary TotalView market data to blockchain applications. Earlier this year, Nasdaq also partnered with Kraken and tokenization firm Backed to develop infrastructure linking traditional equities to blockchain networks. Intercontinental Exchange, the parent company of the New York Stock Exchange, has expanded its tokenization strategy through a partnership with Securitize to develop infrastructure for onchain stocks and exchange-traded funds designed to support 24/7 trading and instant settlement. The Depository Trust & Clearing Corporation, the primary post-trade infrastructure provider for U.S. securities markets, is preparing to launch its tokenized Collateral AppChain platform to automate collateral management and settlement across financial markets.

Injective's application differs from earlier efforts in that it proposes embedding the transfer agent function directly into the blockchain protocol rather than layering it on top of existing infrastructure, a structure the project said could reduce delays and reconciliation between intermediaries. The market for tokenized real-world assets has grown steadily, with industry estimates suggesting it could reach trillions of dollars in value over the next decade, though regulatory clarity remains a key barrier.