Dinari opens 724 tokenized US stocks to American investors
The SEC-registered transfer agent brings its dShares home, selling every S&P 500 company for USDC through self-custody wallets, in what the firm calls an industry first.
What happened
On 4 August Dinari opened trading in 724 tokenized US stocks, including every company in the S&P 500, to eligible US investors, funded in Circle's USDC through self-custody wallets. The tokens run on Ethereum, Arbitrum, Base and Avalanche, with Sei and Solana to follow, and reach investors through Dinari's own trading app and partner platforms. Dinari Inc is a transfer agent registered with the SEC and its affiliate Dinari Securities LLC is a FINRA member broker-dealer. The same day, Dinari opened platform licences to US financial institutions. 'For decades, investing and digital assets have existed in separate financial systems. This launch brings them together,' said Gabriel Otte, Dinari's chief executive and co-founder, in the company's release.
Why it matters
Tokenized US equities have so far been an offshore product: CoinDesk reports Dinari distributed dShares in more than 85 jurisdictions before opening at home. Running the offer through registered transfer-agent and broker-dealer rails, settled in a regulated stablecoin, tests whether tokenized stocks can live inside US securities law rather than around it, and it lands while the SEC is preparing rules for tokenized stock trading. Fortune reports Otte saying 'the token itself will be the trusted ledger of the stock'.
What is not settled
The release does not spell out who counts as an eligible US investor, and no volume has yet been demonstrated. CoinDesk cites Citi's projection of a $5.5tn tokenized securities market by 2030, which is a forecast rather than a measurement. How dividend payment in USDC and shareholder voting perform in practice is untested.
Institutions in this story
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Dinari
Issuer
Opened 724 tokenized US stocks to eligible US investors on 4 August, having distributed dShares in more than 85 jurisdictions first. Registered with the SEC as a transfer agent, with a FINRA member broker-dealer affiliate, which is the structure the offer rests on.
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Circle Internet Group, Inc.
Issuer
Supplies the settlement asset: the offer is funded and settled in USDC, putting a regulated stablecoin on the money side of a registered securities transaction.
On the record
Dinari opens 724 tokenized US stocks to US investors
Dinari opened trading in 724 tokenized US stocks, the S&P 500 among them, to eligible US investors on 4 August 2026, settled in USDC through self-custody wallets and running on Ethereum, Arbitrum, Base and Avalanche. Dinari Inc is an SEC-registered transfer agent; its affiliate Dinari Securities LLC is a FINRA member broker-dealer. It opened platform licences to US financial institutions the same day.