Dinari, a San Francisco-based fintech startup, has made history by becoming the first SEC-approved tokenized equity platform in the U.S. This landmark approval marks the beginning of a new era for blockchain-based stock trading.
SEC Greenlights First Tokenized Stock Platform
According to Reuters, Dinari received broker-dealer registration from the SEC on June 26, 2025, authorizing it to offer blockchain-powered stock trading services domestically. The company specializes in tokenizing U.S. stocks through its dShares platform, where each token represents 1:1 ownership of underlying securities.
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Key features of Dinari's platform:
- Fully collateralized digital assets
- Regulatory compliance with U.S. securities laws
- Planned U.S. market launch within coming months
B2B Model Sets Dinari Apart
Unlike traditional brokerages (e.g., Charles Schwab, Robinhood), Dinari operates as a B2B infrastructure provider:
- Integrates trading interfaces into third-party platforms
- Currently available internationally via Base blockchain
- U.S. expansion imminent
CEO Gabriel Otte confirmed multiple undisclosed partnerships as the company prepares for Q3 operational launch.
Competitive Landscape Heats Up
Major players are racing to dominate tokenized securities:
- Kraken: Launching xStocks for international markets
- Coinbase: Seeking SEC approval for blockchain-based stocks
Industry experts weigh in:
- Travis Hoium (Motley Fool): "Tokenization enables 24/7 trading and lowers barriers"
- Hunter Horsley (Bitwise): "Promotes financial democratization"
Challenges Remain
World Economic Forum identifies key hurdles:
- Secondary market liquidity issues
- Lack of global standards
FAQ: Tokenized Stock Trading Explained
Q: How do tokenized stocks work?
A: Each digital token represents direct ownership of a real stock, backed 1:1 by the underlying security.
Q: Are tokenized stocks legal in the U.S.?
A: Currently only through SEC-approved platforms like Dinari. Other offerings remain restricted.
Q: What advantages do they offer?
A: Potential benefits include fractional ownership, faster settlement, and global accessibility.
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Q: What risks should investors consider?
A: Market volatility, regulatory uncertainty, and technological risks associated with blockchain platforms.
Disclaimer: Cryptocurrency investments involve substantial risk. Prices fluctuate rapidly, and investors may lose their entire principal. Carefully evaluate your risk tolerance before participating.