Securitize Launches Tokenized Tesla Shares on Solana
Securitize has rolled out tokenized U.S. equities on Solana, including Tesla shares, backed one-for-one by real stocks.
Securitize launched a line of tokenized U.S. equities on Thursday, offering blockchain-based shares for eligible investors in the U.S., European Union, and other permitted jurisdictions. The initial batch includes Tesla alongside 11 other stocks such as Apple, Microsoft, Nvidia, Circle, Strategy, and Palantir. Trading opens on Solana through Securitize’s registered broker-dealer, with trades settling in USDC and Jump Trading acting as market maker through a PropAMM.
Tesla shares traded at $373.05, down 1.26% on the day.
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Key facts
- Each token is backed one-for-one by a real share held for the investor and constitutes a security entitlement under Article 8 of the Uniform Commercial Code.
- Token holders receive dividends and voting rights where applicable, while underlying shares will not be lent out.
- Trades currently start in extended hours with plans to move to 24/7 trading, and tokens are expected to list on the NYSE’s planned digital venue and the OKXICE Tokenized Securities Venue.
- Ripple Prime, Aave, and RQD* are supporting aspects of the launch, custody, and potential institutional integration.
The launch follows a five-year innovation exemption granted by the SEC for onchain trading of fully backed stock tokens. Securitize manages about $5 billion in assets.
Source: unchainedcrypto.com
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