Securitize launches 12 tokenized US stocks on Solana, settled in USDC, with NYSE trading still pending

Securitize said on October 8 that it has launched Securitize Stocks, a product that puts tokenized versions of 12 large US-listed companies on the Solana blockchain. Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta, Amazon, Netflix, Circle, Strategy and Palantir are among the names, according to CoinDesk. Trades settle in the USDC stablecoin, and Jump Trading provides liquidity.

What the token actually is

Each token is backed by one underlying share, and the company says holders keep shareholder benefits such as dividends and voting rights. Legally, though, they are security entitlements held through Securitize Markets, LLC, the same structure used in an ordinary brokerage account under Article 8 of the Uniform Commercial Code. Holders are not registered shareholders on the issuer's own books. Securitize describes a path to convert into registered shares if companies adopt issuer-sponsored tokenization, according to Solana Compass. Securitize Markets is a FINRA member and SIPC participant, and a European brokerage entity serves investors in the EU.

Where it trades and what is still pending

Trading starts on Securitize's own Solana-based platform during extended US market hours, with 24/7 access planned. Two larger venues are named as next steps: the New York Stock Exchange's proposed 24/7 digital trading platform and the OKX-ICE Tokenized Securities Venue. Both are subject to regulatory approval and to the venues themselves launching, so neither should be counted as available. The announcement did not define which investors are eligible beyond "permitted jurisdictions," and no fees or minimum trade sizes were published.

Not the first on Solana

Tokenized versions of the same large companies already exist on Solana through other issuers. Solana Compass notes that competitor xStocks' Apple token grew from roughly 15,400 holders in July to about 43,000 in October. What Securitize adds is the brokerage-style structure and the planned link to US exchange venues, which is the part still to be proven.

For readers, the practical questions are who can buy, how the entitlement is treated in a custodian failure, and whether the NYSE and OKX-ICE venues receive approval. For crypto, the story is about USDC doing the settlement job: a dollar stablecoin becoming the cash leg of stock trades. See our earlier coverage of the NYSE and Blockchain.com tokenized stocks agreement and the crypto section.

Sources: CoinDesk, Solana Compass. Information, not investment advice.