Securitize shares rise about 10% as it launches tokenized US stocks on Solana
In brief
- Securitize shares rose about 10% Thursday, per Yahoo Finance data cited by Cointelegraph.
- Securitize Stocks offers tokenized shares of 12 US companies, including Apple, Nvidia, Microsoft and Tesla.
- One-for-one backed tokens settle in USDC on Solana and keep dividend and voting rights.
- Extended-hours trading comes first; 24/7 trading is planned with no set timeline.
- NYSE, OKX/ICE, Ripple Prime and Aave plans are stated plans, not confirmed deals.
What Securitize launched
Securitize said the tokens represent security entitlements under Article 8 of the Uniform Commercial Code. Under that structure, the company said, holders keep applicable shareholder benefits, including dividends and voting rights.
The tokens settle in USDC on Solana. Jump Trading is providing liquidity as a market maker.
Trading starts during extended market hours. Securitize plans to expand to 24/7 trading, but it hasn't given a timeline for that.
Stated plans, not confirmed deals
Securitize also said it plans to make the assets available on tokenized securities platforms being built by the New York Stock Exchange and OKX/ICE.
Neither platform has set a launch date.
According to Securitize, Ripple Prime plans to support the launch and explore adding the assets to its institutional trading services. Ripple Prime didn't respond to Cointelegraph's request for more details by publication time. Aave (the decentralized lending platform) was identified as a potential venue for using the tokenized stocks as collateral, which would put them in front of defi users if it happens.
A second rally in one week
Thursday's move was the second sharp intraday rally for Securitize (SECZ) shares this week. The stock climbed nearly 8% in early trading on Tuesday, according to Yahoo Finance data cited by Cointelegraph, when the company announced a partnership with South Korean technology firm LG CNS to explore tokenized funds, equities and stablecoins for financial institutions. That agreement also covers infrastructure that could connect local financial institutions with global capital markets, and it follows a September memorandum of understanding with Dubai's Virtual Assets Regulatory Authority to support regulated tokenization initiatives in Dubai.
Over the past month, SECZ is up roughly 54%, according to Yahoo Finance data.
The broader tokenization market's grown too. RWA.xyz data shows distributed tokenized asset value (excluding stablecoins) at $38.88 billion as of Thursday. That's up from $25.36 billion a year earlier.
Frequently asked questions
What rights do Securitize's tokenized stocks carry?
Securitize said the tokens represent security entitlements under Article 8 of the Uniform Commercial Code. The company said they keep applicable shareholder benefits, including dividends and voting rights, and are backed one-for-one by underlying shares.
How do Securitize Stocks settle and who provides liquidity?
The tokens settle in USDC on the Solana blockchain. Jump Trading is providing liquidity as a market maker, according to Securitize's announcement as reported by Cointelegraph.
When will Securitize's tokenized stocks trade 24/7?
There's no set date. Trading starts during extended market hours through Securitize's registered broker-dealer platform, and the company plans to expand to 24/7 trading on an unspecified timeline.
