Jupiter:- Equities form the basis of capital markets. There’s an emerging trend in web3 to bring these equities on blockchain. Recently, Kraken joined hands with Backed and Solana Foundation to launch xstocks. With this, the leading exchange is offering tokenized US stocks and ETFs on the Solana blockchain.
Now, in another exchange moving towards this, Jupiter has signed a collaborative partnership with the stock exchange of Kazakhstan – AIX.
According to the MoU signed, companies listed at Astana International Exchange (AIX) or the Kazakhstan’s stock exchange will have the option to pursue dual listing mechanism. With this, a company listed at exchange can pursue the traditional mechanism of IPOs and can also issue its tokenized stocks on Solana.
Equities to Get Duel Listings With Jupiter Partnership
The partnership is built between AIX, Intebix, Solana and Jupiter. Intebix (Kazakhstan-based crypto exchange), the Solana Foundation, and Jupiter will jointly explore the regulatory, technical, and commercial aspects of dual listings.
Under the proposed dual listing framework, a company would first complete a standard IPO on AIX, meeting all requisite financial disclosures and regulatory criteria.
However, as part of the agreement, the same issuer or the company would be able to create a smart contract on Solana. This will be minting its tokenized shares which will have the similar economic rights as their AIX-listed stock.
We're excited to advance our Global Unified Markets vision together with @SolanaFndn and Astana International Exchange (AIX).
Jupiter and AIX, Kazakhstan's Stock Exchange, have signed a memorandum aimed at developing a dual listing — allowing companies to go public through a… pic.twitter.com/2nUkMisKck
— Jupiter (🐱, 🐐) (@JupiterExchange) May 29, 2025
These tokens, managed via Intebix’s tokenization engine would be accessible through Jupiter’s decentralized exchange interface. Further, security of the tokenized equities would be provided by Solana’s Proof of History and Proof of Stake consensus mechanisms. As a result, token holders would enjoy instant, 24/7 trading and settlement, contrasting with conventional market hours and settlement lags.
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World’s Top Companies Can Tokenize their Equities
Interestingly, AIX or the Astana International Exchange lists some of the major companies of the country. This includes:
- NAC Kazatomprom JSC – the World’s largest Uranium producer,
- Freedom Holding Corporation – financial services holding company,
- Air Astana – Kazakhstan’s national airline/flag carrier
This implies that with Jupiter partnership, some of the major global companies would be able to tokenize their equities.
Trend of Tokenizing Equities
The Jupiter-AIX partnership comes as another boost for the bustling trend of tokenization. According to the report by 21 shares, about $5 trillion of stock market is going to be tokenized by 2030.
This comes on the backdrop of several benefits. Enhanced liquidity of the capital with fractional ownership and real-time settlements are among the few. These are going to benefit the overall global economy as well.
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Jupiter’s partnership is just one of several initiatives driving equity tokenization forward. Companies like Dinari, Securitize, and Polymath are also making significant strides in this space.
This collaboration also highlights Kazakhstan’s broader push into digital assets. Just last week, President Kassym-Jomart Tokayev announced “CryptoCity,” a dedicated zone where registered businesses will be allowed to accept and transact in cryptocurrencies.
Thus, these developments promise to give Kazakhstan’s crypto ecosystem and the tokenization of equities in particular a substantial boost.
Sneha Agrawal 
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