Securitize launches tokenised stock entitlements on Solana without issuer involvement
Key points
- Securitize has launched tokenised entitlements covering twelve U.S.-listed equities, including AAPL, MSFT, NVDA, GOOG, TSLA, META, AMZN, NFLX, CRCL, SPCX, MSTR, and PLTR.
- The tokens convey standard ownership and voting rights consistent with a broker omnibus account, distinguishing them from offshore synthetic tokens issued through special purpose vehicles without full stock ownership.
- Securitize is acting as a third-party tokeniser without any involvement from the underlying stock issuers, a departure from the issuer-sponsored model the firm has publicly advocated.
- Entitlement tokens are designed to convert into issuer-sponsored versions should those companies choose to tokenise directly, framing the product as a bridge rather than a permanent alternative.
- Securitize is issuing on Solana while the imminent DTC tokenised securities launch will use a private Besu blockchain and the Canton Network, creating a chain fragmentation question around whether DTC-backed entitlements will follow.
Securitize has gone live with a dozen tokenised entitlements tracking major U.S.-listed equities, including Apple, Microsoft, Nvidia, Google, Tesla, Meta, Amazon, Netflix, Circle, MicroStrategy, Palantir, and SPAC-focused SPCX. Unlike the issuer-sponsored tokenisation model that Securitize has long championed, these instruments are created by Securitize acting as a third-party tokeniser, with no participation from the underlying companies whose shares are being represented.
The entitlement tokens are structured to carry the same ownership and voting rights that investors would expect through a conventional broker omnibus account, which sets them apart from the offshore synthetic tokens issued via special purpose vehicles that typically do not confer full stock ownership. Securitize frames the entitlement structure as a transitional mechanism: if any of these large issuers eventually choose to sponsor their own tokens directly, the entitlement versions can be converted into those issuer-originated instruments. That framing positions the launch as a pragmatic response to the cold-start problem inherent in waiting for corporate issuers to move first.
The timing sits alongside the imminent launch of Depository Trust Company (DTC) tokenised securities, which will settle on a private Besu blockchain and the Canton Network. Securitize has chosen Solana, a chain not among DTC’s initial set, though the source notes that brokers are permitted to issue entitlement tokens on any chain and could in principle back them with DTC tokens. Whether Securitize intends to pursue that backing has not been disclosed. What the overall picture suggests is that competitive positioning in this market is increasingly about the length of an investor allowlist rather than raw dollar volume, since regulated tokens require investors to be permissioned before they can hold them.