Dinari opens tokenized U.S. stock trading to domestic investors
RWA & Tokenization ·
Dinari has extended its blockchain-based U.S. equities platform to eligible American investors, deepening a fast-growing contest over tokenized shares.
The firm said Tuesday that eligible U.S. users can now buy and sell 724 tokenized equities, spanning every S&P 500 constituent, paying with Circle's USDC stablecoin and holding the tokens in self-custody wallets rather than through Dinari's own accounts, according to CoinDesk. The tokens currently run on Ethereum, Arbitrum, Base and Avalanche, with Solana and Sei support planned to follow.
The rollout is built on Dinari's registered broker-dealer and transfer-agent setup, and launches alongside partners Circle, Privy, Para and Monaco, per the same report. Each dShare token is backed one-for-one by an underlying share held with a regulated custodian, a design Dinari says keeps shareholder benefits such as dividends, voting rights and corporate-action entitlements intact even though the tokens sit in investor-controlled wallets. Dividend payments are distributed directly in USDC, and the company says its dShares now reach investors in more than 85 jurisdictions, with this launch bringing U.S. residents into that pool for the first time.
The expansion lands amid broader momentum toward tokenizing public equities as a follow-on to the earlier surge in tokenized Treasury products, with Citi estimating the tokenized-securities market could reach $5.5 trillion by 2030, the report noted. Rival approaches are diverging: Robinhood and Payward, the parent of Kraken, have rolled out tokenized stock products outside the U.S. using offshore structures that track publicly traded shares, while Securitize has pushed a model in which companies issue securities directly on-chain, including onchain versions of its own NYSE-listed stock. Ondo Finance recently introduced its own SEC-aligned framework for tokenized equities, adding another entrant to the field.
Separate coverage of the launch has described Dinari as founded by veterans of Stripe and Apple, underscoring the payments and technology backgrounds behind the platform, though the CoinDesk report itself does not detail the founders. Three distinct outlets have covered the expansion, reflecting the attention the move is drawing across the sector.
What remains unclear is how quickly the pending Solana and Sei integrations will materialize, how U.S. regulators will treat the self-custody wallet model over time, and how Dinari's custodial approach will fare competitively against the offshore and native-issuance strategies being pursued by Robinhood, Payward, Securitize and Ondo Finance.