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Securitize Puts 12 U.S. Stocks on Solana With 1:1 Backing and 24/7 Trading Plans

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Key Takeaways:

  • Securitize has already launched tokenized U.S. stocks on Solana, including NVIDIA, Tesla and Apple.
  • Each token represents an underlying share with entitled dividend and voting rights.
  • Trading across NYSE and OKXICE venues could become 24/7 in the future.

Securitize is taking some of the largest stocks in Wall Street to the blockchain via a regulated tokenized-equities platform on Solana.

There are Apple, Microsoft, NVIDIA, Google, Tesla, Meta, Amazon, Netflix, Circle, SPCX, Strategy and Palantir, and these are all taking place in the USDC currency.

12 Major U.S. Stocks Move Onto Solana

Securitize Stocks will be initially sold via its registered broker-dealer platform, which will provide eligible investors in the U.S., EU, and other approved jurisdictions access to major U.S. stocks as tokens.

Each Securitize Stock corresponds to an actual underlying share as opposed to a product that is just a tracking of the stock’s market value. The tokens are organized into security entitlements under UCC Article 8 thus maintaining the economic rights of the securities.

These may involve the ability to receive dividends and the right to vote on the underlying stock (if the underlying stock offers voting rights). These shares used to create the tokens will also not be bound up.

Read More: Securitize Wins NYSE Approval for Public Market Debut

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Token Holders Could Convert Into Direct Shares

Securitize is issuing ‘Convertible Entitlement Tokens’ or CET. Subsequent issuers of direct tokenizing issuers may propose to change tokens into securities directly with the company’s transfer agent for eligible investors.

This setup puts a layer between the traditional tokenization market and one in which public companies can sell their own tokens straight on blockchain infrastructure.

Solana Handles Trading While USDC Settles Transactions

Solana has been chosen as the network into which the network launched, and USDC will be utilized for settlement. Initially, Liquidity will be provided by Solana-based PropAMM from Securitize, with Jump Trading serving as the market maker, to provide support to execution and price discovery.

The trading starts during the extended market hours, and is planned to open for trading around the clock. Beyond this, Securitize believes that tokenized stocks will continue to have more onchain applications in the future, such as lending and collateral markets like Aave.

Ripple Prime will help with the launch and investigate how to incorporate the assets into its institutional trading platform.

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NYSE and OKXICE Target 24/7 Tokenized Stock Trading

The distribution could go beyond Securitize’s platform. The company anticipates its tokenized equities will be up for approval and available on the next digital trading venue of the NYSE, should it be officially launched and regulated.

Securitize Stocks will also trade on the OKXICE Tokenized Securities Venue, an initiative that will utilize OKX’s blockchain technology and adapt it to Intercontinental Exchange’s institutional market network.

That is a site being built to enable the continuous trading, instant settlement and self-custody of eligible users. The infrastructure creates an integrated marketplace for tokenized-equities featuring regulated brokerage, blockchain settlement, market making and traditional shareholder rights.

Read More: Neuberger Berman and Securitize Introduced HINC – Their First Tokenized Fund

The post Securitize Puts 12 U.S. Stocks on Solana With 1:1 Backing and 24/7 Trading Plans appeared first on CryptoNinjas.


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