Dinari Approved to Trade Tokenized Equities on Blockchain in US

Dinari, a San Francisco-based startup, has received approval from the Securities and Exchange Commission (SEC) to operate as a stock broker using decentralized networks. This approval marks a significant milestone as Dinari becomes the first U.S. broker to trade tokenized equities on blockchain-like networks. Previously, such digital shares were only available to overseas users on platforms like Coinbase’s Base network.

Under the new framework, Dinari will hold the actual stocks and issue dShares, which represent these positions. Investors will be able to trade dShares similarly to ordinary shares, but with faster settlements and lower fees. Additionally, trading will never pause since the networks operate continuously.

Dinari will integrate its platform into third-party trading apps and desks, acting as a technology provider rather than offering direct retail services. Gabriel Otte, Dinari’s cofounder and CEO, emphasized that this approach establishes a legal foundation for on-chain equity trading and secures regulatory approval in U.S. markets. Otte noted that no other firm has achieved this level of regulatory approval for tokenized equities, aiming to bridge the gap between Bitcoin’s network and traditional finance.

This development comes as U.S. regulators show increasing support for crypto-based projects. The Trump administration has reportedly eased its stance on crypto assets, creating a more favorable environment for startups like Dinari, Coinbase, and Kraken. Dinari plans to begin operations in the next quarter, with several market participants already on board, though their names remain confidential.

Investors will closely monitor whether dShares gain traction among brokers and asset managers. If successful, Dinari could introduce a new model for trading real-world assets by integrating blockchain networks with standard broker rules. This approach has the potential to lower costs and expedite settlements, offering a more efficient and seamless trading experience.