The future of stock trading is being rewritten on the blockchain. In a landmark development for financial innovation, San Francisco-based fintech startup Dinari has become the first tokenized equity platform in the United States to receive broker-dealer registration from the Securities and Exchange Commission (SEC). This approval marks a pivotal moment in the evolution of digital asset markets and signals the official start of a new era—the year of on-chain U.S. stock trading.
With this green light, Dinari is poised to launch its blockchain-powered stock trading services in the U.S. market within the coming months, setting the stage for broader adoption of tokenized securities, decentralized finance (DeFi) integration, and 24/7 market access.
What Is Dinari and Why Does It Matter?
Dinari is a cutting-edge fintech company focused on transforming traditional U.S. equities into blockchain-based digital assets. Its flagship product, dShares, represents tokenized versions of real-world stocks, each backed 1:1 by actual shares held in custody. These tokens allow investors to gain exposure to blue-chip companies like Apple, Tesla, or Microsoft through a decentralized, transparent, and programmable infrastructure.
Unlike conventional brokerage platforms such as Charles Schwab or Robinhood, Dinari operates under a B2B (business-to-business) model. Instead of building its own consumer-facing app, it integrates its trading engine and compliance layer into third-party financial platforms, exchanges, and DeFi protocols. This strategic approach enables faster scalability and regulatory alignment while empowering other firms to offer tokenized stock solutions without developing backend systems from scratch.
Currently, dShares are already available outside the U.S. via blockchain networks like Coinbase’s Base, giving international users early access to American equities in a crypto-native format. With SEC registration now secured, Dinari plans to bring these capabilities directly to American investors—ushering in a new chapter for financial inclusion and market efficiency.
The Regulatory Breakthrough: Why SEC Approval Is a Game Changer
Securing broker-dealer status from the SEC is no small feat. It requires rigorous compliance with anti-money laundering (AML), know-your-customer (KYC), investor protection, and capital reserve regulations. By meeting these standards, Dinari becomes the first regulated entity authorized to issue and trade tokenized stocks on-chain within the U.S. financial system.
This milestone not only validates Dinari’s technology and legal framework but also sets a precedent for other fintech innovators aiming to bridge traditional finance (TradFi) with blockchain infrastructure.
Gabriel Otte, CEO of Dinari, confirmed that the company’s broker-dealer subsidiary will begin operations in the next quarter. While he declined to name specific partners, Otte revealed that Dinari has already established strategic collaborations with multiple financial institutions and tech platforms eager to integrate tokenized equity offerings.
The Growing Race for Tokenized Equities
Dinari isn’t alone in pursuing this transformative opportunity. The race to tokenize stocks is heating up globally, with major players entering the space:
- Kraken, the prominent crypto exchange, recently announced xStocks, a suite of tokenized U.S. equities designed for non-U.S. markets.
- Coinbase, one of the largest digital asset platforms, is actively seeking SEC approval to offer tokenized versions of American stocks to its customer base.
These developments reflect a growing consensus among industry leaders: tokenization is the future of asset ownership.
According to Travis Hoium, analyst at The Motley Fool, tokenized stocks could fundamentally reshape how both public and private companies raise capital and engage investors. Benefits include:
- 24/7 trading availability, breaking free from traditional market hours
- Faster settlement times, moving from T+2 to near-instantaneous clearing
- Lower transaction costs due to automated smart contract execution
- Increased accessibility for retail investors worldwide
Hunter Horsley, CEO of Bitwise, echoes this sentiment, stating that tokenization can democratize access to U.S. capital markets, allowing small businesses and global participants to invest with greater ease and transparency.
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Challenges Ahead: Liquidity, Standards, and Regulation
Despite the momentum, significant hurdles remain before tokenized stocks achieve mass adoption.
A recent report by the World Economic Forum identified two critical challenges:
- Limited secondary market liquidity: Without deep pools of buyers and sellers, price discovery becomes inefficient, increasing volatility and slippage.
- Lack of global regulatory standards: Divergent rules across jurisdictions create compliance complexity and hinder cross-border interoperability.
Additionally, questions around investor protection, custody solutions, audit transparency, and tax treatment must be addressed as the ecosystem matures.
Yet, Dinari’s SEC approval represents a foundational step toward resolving these issues—proving that regulated, compliant on-chain equity trading is not only possible but already underway.
Frequently Asked Questions (FAQ)
Q: What are tokenized stocks?
A: Tokenized stocks are digital representations of real company shares issued on a blockchain. Each token typically corresponds to one underlying share and is backed by actual ownership held in trust or custody.
Q: Are tokenized stocks legal in the U.S.?
A: Yes—but only when offered by registered entities complying with federal securities laws. Dinari’s SEC broker-dealer registration makes it the first platform legally authorized to provide on-chain stock trading in the U.S.
Q: How do dShares differ from traditional stocks?
A: While dShares represent the same economic value as real stocks, they exist as blockchain tokens, enabling features like programmable dividends, instant transfers, and integration with DeFi applications.
Q: Can I trade tokenized stocks 24/7?
A: Yes—unlike traditional markets that operate during set hours (e.g., 9:30 AM–4:00 PM ET), tokenized stocks can be traded around the clock on compatible platforms.
Q: Is investing in tokenized stocks risky?
A: Like any investment involving digital assets and emerging technology, there are risks—including technological vulnerabilities, regulatory changes, and market volatility. Always conduct thorough research before investing.
Q: Will tokenized stocks replace traditional brokerage accounts?
A: Not immediately—but they are expected to complement existing systems by offering enhanced speed, accessibility, and innovation over time.
The Road Ahead: Financial Innovation Meets Regulation
Dinari’s achievement demonstrates that innovation and regulation don’t have to be at odds. By working within the existing legal framework, the company has opened a pathway for secure, scalable, and compliant blockchain-based equity trading.
As more institutions explore asset tokenization—from bonds and real estate to private equity—the infrastructure pioneered by Dinari could serve as a blueprint for the next generation of financial services.
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With major players like Coinbase and Kraken advancing similar initiatives, 2025 could mark the true beginning of widespread adoption for tokenized securities—ushering in a more inclusive, efficient, and borderless financial system powered by blockchain technology.
Core Keywords:
- Tokenized stocks
- SEC approval
- Blockchain-based trading
- dShares
- Dinari
- Broker-dealer registration
- On-chain equities
- Financial innovation