Dinari brings 724 tokenized U.S. stocks to eligible American investors
The platform will let users fund purchases with USDC from self-custody wallets while its broker-dealer and transfer-agent entities hold the regulated market structure underneath.
Dinari is bringing tokenized versions of 724 U.S. stocks to eligible American investors, including every company in the S&P 500. The service lets users fund purchases with USDC and hold the resulting assets in self-custody wallets across Ethereum, Arbitrum, Base and Avalanche. Solana and Sei are planned additions.
The company calls the products dShares. Each token is backed one-for-one by the related stock or ETF, and Dinari says the structure passes through dividends, voting rights, stock splits and other corporate actions. The platform is built around a broker-dealer and transfer-agent framework rather than an unregistered synthetic asset.
CEO Gabe Otte told CoinDesk that “the idea for Dinari has always been: Let’s operate within NMS, but let’s offer it in tokenized form.” The company has spent about a year working with regulators and is limiting the launch while it tests the service.
Putting market plumbing behind the token
The point of the product is not simply to place a stock symbol on a blockchain. The regulated entities underneath need to keep records of ownership, process corporate actions and connect token holders to the rights attached to the underlying security. That is the part of tokenized equities that determines whether the product behaves like an investment account or like a price-tracking instrument.
Dinari is using Circle for funding because it does not hold the money-transmitter licenses needed to move customer cash itself. Other named partners include Stripe-owned Privy, Para and Monaco. The arrangement separates the onchain wallet and settlement experience from the regulated custody and transfer functions.
The launch will be judged by execution at the edges: how quickly orders settle, how corporate actions reach users, what restrictions apply to eligible investors, and how much liquidity exists for a token after it is issued. If those processes work smoothly, tokenization can change the delivery of equities without changing the underlying rights. If they do not, the token will be the least difficult part of the product.
