Dinari Secures U.S. Approval for Blockchain-Based Stock Trading

Coin WorldFriday, Jun 27, 2025 7:07 am ET
1min read

Dinari has achieved a significant milestone by becoming the first platform to receive U.S. regulatory clearance to offer blockchain-based shares of public companies to domestic investors. This approval allows Dinari to launch its licensed tokenized stock trading platform in the next quarter, following the completion of its onboarding with the Securities and Exchange Commission (SEC).

Dinari, based in San Francisco, has been issuing digital stock tokens, or dShares, to international users on the

Coinbase
Base network. With the new license, Dinari will shift its focus towards the American market, partnering with brokerages and fintech apps via APIs, rather than serving customers directly. CEO Gabriel Otte emphasized that Dinari's transactions will be routed to known market centers and settled on a public blockchain, highlighting the platform's commitment to a full financial infrastructure built on-chain.

Tokenized equities, which convert conventional stocks into blockchain tokens, offer several advantages. These include quicker settlement times, reduced costs, real-time trading, and extended retail access, particularly across different time zones. Dinari's compliance with SEC regulations, which mandate that securities, including tokenized ones, be traded through licensable intermediaries, puts pressure on competitors such as Coinbase and Kraken, who are also seeking similar approvals.

Coinbase has filed to offer tokenized stock to its user base, potentially competing with retail brokers like

Robinhood
and
Charles Schwab
. Kraken, on the other hand, plans to make more than 50 tokenized stocks and ETFs available outside the U.S. based on Backed xStocks on the
Solana
blockchain. Dinari’s success in obtaining regulatory clearance suggests a promising regulatory environment for the industry.

The momentum around tokenization extends beyond equities. Republic, an investment firm based in New York, recently introduced rSpaceX, which are blockchain-secured promissory notes that track the value of SpaceX shares. These tokens will become tradable after a one-year holding period on the INX exchange. This approach allows a wider group of privately held companies, such as OpenAI, Stripe, and Anthropic, to offer exposure to their upside activities, including IPOs or acquisitions, to a broader range of investors.

While the potential for tokenized assets is vast, with projections suggesting they could reach $18.9 trillion by 2033, the industry faces challenges such as liquidity constraints and the lack of international regulation. Despite these hurdles, the growing number of regulated entities entering the market indicates increasing confidence in the viability of the tokenization model.

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