[Brief News] Unlike many offshore price tracking products, each token is a security interest under the Uniform Commercial Code (UCC), retaining rights such as dividends and voting rights.
This launch has added to the rapidly accelerating competition in tokenized stocks. The trading venues for NYSE and OKX-ICE have been planned but not yet launched.
On Wednesday, Securitize announced that the first batch of the new product Securitize Stocks would be available for 12 widely held targets, including Apple, Microsoft, NVIDIA, Google, Tesla, Meta, Amazon, Netflix, Circle, Strategy, and Palantir.
These tokens will initially be traded on the registration brokerage platform of Securitize on Solana, and settled in USDC stablecoins, accessible to qualified investors in the United States, the European Union, and other authorized jurisdictions.
The company stated that what sets this product apart is the underlying assets behind each token. Unlike many offshore tokenized stock products that merely track stock prices, Securitize Stock is backed one-to-one by a share of underlying stock and represents securities interests under the Uniform Commercial Code, preserving investors' rights and economic benefits such as dividends, as well as voting rights where applicable. The stocks that underlie these tokens will not be lent out, and holders can convert their interests into actually registered shares with the support of the issuer.
"Tokenized stocks should provide investors with more than just a shell that wraps around the stock price, and such products are only offered offshore," said Carlos Domingo, Chairman and CEO of Securitize. He described the goal as bringing stocks onto the blockchain "without losing the ownership that underpins the operation of the U.S. capital market, investor protection, and market infrastructure."
The trading infrastructure is still being expanded. In the initial stages of launch, liquidity will be provided by Securitize through automated market makers based on Solana. Jump Trading will act as the market maker, and trading will be possible during extended hours. After that, there are plans to transition to 24/7 trading.
The announcement lists partners, including Ripple Prime and Aave, as this asset will now be available for use in on-chain lending and mortgage markets.
Securitize indicates that its token is expected to be traded on the 24/7 trading venues planned by the New York Stock Exchange, as well as on the OKX-ICE tokenized securities trading venue, but neither of these venues has yet been launched.
