Securitize Launches Tokenized US Equities on Solana, Stock Rises 10%
Written with artificial intelligence.
Securitize has introduced tokenized shares of 12 major US companies on the Solana blockchain, allowing eligible investors to access equities with full shareholder rights. The company's stock surged approximately 10% following the announcement.
Tokenized Shares on Solana
Securitize has launched a new offering called Securitize Stocks, which provides eligible investors with access to tokenized shares of 12 prominent US companies, including Apple, Nvidia, Microsoft, and Tesla. These tokenized shares are backed one-for-one by actual underlying shares, preserving shareholder benefits such as dividends and voting rights.
Trading Details
The tokens, which will initially trade during extended market hours on Securitize’s registered broker-dealer platform, are set to settle in USDC on the Solana blockchain. Jump Trading will provide liquidity via market-making services. While trading will start in limited hours, Securitize plans to enable 24/7 trading in the future, although a specific timeline has not been outlined.
Future Ventures
Beyond trading, Securitize is exploring additional applications for these tokenized equities. Ripple Prime has indicated plans to support the launch and may incorporate these assets into its institutional trading services. Additionally, decentralized lending platform Aave is being considered as a potential venue for using the stocks as collateral.
Recent Stock Performance
Following the announcement, Securitize's stock saw a notable increase of about 10% on Thursday. This follows a nearly 8% rise earlier in the week when the company revealed a partnership with LG CNS to explore tokenization initiatives for financial institutions. Over the past month, Securitize shares have recorded a substantial gain of approximately 54%.