Dinari has launched blockchain-based versions of every stock in the S&P 500 for eligible investors in the United States, expanding access to tokenized equities through self-custody wallets.
The platform allows users to fund their accounts with USDC and purchase tokenized shares backed one-to-one by securities held with regulated custodians. Dinari says the model gives investors many of the rights associated with traditional stock ownership while reducing reliance on conventional brokerage infrastructure.
The launch comes as financial and cryptocurrency companies compete to bring more stocks, funds and other real-world assets onto blockchain networks.
Dinari Brings the Entire S&P 500 On-Chain
Eligible U.S. investors can now access tokenized versions of all companies included in the S&P 500 through Dinari’s wallet-first platform.
Instead of opening and funding a traditional brokerage account, users can connect a compatible self-custody wallet and use USDC to purchase blockchain-based equities.
Dinari describes the launch as a bridge between the stablecoin economy and the much larger U.S. stock market. By combining tokenized securities with stablecoin payments, the company aims to make investing more flexible for people who already hold digital assets.
The rollout was developed through a partnership with Circle, the company behind USDC. Circle reportedly declined to comment because it was observing a quiet period before an earnings announcement.
How Dinari’s Tokenized Stocks Work
Dinari calls its tokenized securities “dShares.”
According to the company, every dShare is backed one-to-one by a corresponding security held in regulated custody. This means one tokenized share is intended to represent ownership linked to one underlying traditional share.
Dinari says holders can receive rights connected to the underlying securities, including:
- Cash dividends paid in USDC
- Voting rights
- Participation in corporate actions
- Redemption based on market prices
- The ability to transfer supported assets between compatible platforms
The use of blockchain technology may also allow transactions to settle more quickly than trades processed through traditional market infrastructure.
In conventional stock markets, transactions generally pass through brokers, custodians, clearing organizations and settlement systems. Dinari’s model attempts to reduce some of these layers while allowing users to hold tokenized positions directly in digital wallets.
Self-Custody Replaces the Traditional Brokerage Experience
A major feature of Dinari’s platform is its focus on self-custody.
Rather than leaving assets inside a brokerage account, investors can hold supported tokenized shares in compatible blockchain wallets. Dinari argues that this gives users more direct control over their portfolios and makes it easier to transfer assets between supported services.
The company also says blockchain-based settlement can occur almost instantly, reducing delays associated with standard stock market settlement cycles.
However, tokenized stocks remain regulated financial products. Eligible users must still comply with identity verification, investor eligibility and securities-law requirements.
Dinari Supports More Than 6,100 Tokenized Assets
Dinari said its platform was already operating across 85 jurisdictions before the new U.S. launch.
The company currently lists 6,139 active tokenized assets, giving investors access to a wide range of publicly traded stocks and other securities through blockchain infrastructure.
The addition of the complete S&P 500 significantly expands Dinari’s U.S. offering. The index includes many of the largest publicly traded companies in sectors such as technology, finance, healthcare, consumer goods and energy.
Providing tokenized access to the full index could help Dinari compete with established brokerages and newer blockchain-based investment platforms.
Tokenized Stock Market Continues to Grow
Interest in tokenized equities has increased rapidly as companies explore ways to place traditional financial assets on blockchain networks.
An a16z crypto report estimated that the market value of tokenized stocks grew by approximately 600% and reached nearly $1.7 billion by the end of June.
Although that figure remains small compared with the broader global stock market, the rapid growth suggests increasing demand for blockchain-based access to traditional investments.
Companies including Securitize and Figure have developed tokenized asset products, although many of their offerings have focused on private investments or specialized financial instruments.
Dinari CEO and co-founder Gabriel Otte said his company differs by providing tokenized versions of publicly traded U.S. stocks.
Robinhood and Coinbase Increase Competition
Dinari is entering an increasingly competitive market.
Robinhood recently introduced tokenized stock products for eligible European users through its blockchain-based infrastructure. The company’s offering allows investors in supported markets to gain exposure to selected U.S. equities outside the traditional brokerage model.
Coinbase and its Base blockchain have also discussed plans to support regulated, one-to-one-backed tokenized stocks.
These developments indicate that major financial and crypto companies see tokenized equities as a potentially important part of the future investment market.
Competition will likely focus on regulation, custody, liquidity, investor rights, supported assets and the ability to move tokenized positions between different platforms.
Dinari Emphasizes Regulatory Compliance
Dinari has repeatedly stated that tokenized securities should operate within existing securities laws rather than outside them.
The company joined the Blockchain Association in July 2024 to participate in U.S. policy discussions related to tokenized securities, crypto market structure and financial regulation.
Dinari operates as an SEC-registered transfer agent. Its broker-dealer subsidiary is also registered with the SEC and is reportedly a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
These registrations are an important part of Dinari’s effort to position its platform as regulated financial infrastructure rather than an unregulated crypto trading service.
The company says tokenization should preserve the investor protections already available in traditional capital markets.
CEO Criticizes Traditional Market Infrastructure
Otte said the idea for Dinari developed from his own experience with the traditional wealth management industry.
After leaving cancer diagnostics company Freenome, where he was a co-founder, Otte became a client of wealth management firms. He said he found it difficult to understand how his investments were being managed and believed clients were given limited visibility into the system.
He argued that traditional capital markets often benefit large and established participants while offering less transparency and flexibility to individual investors.
Otte also criticized the role of the Depository Trust and Clearing Corporation, which performs important clearing, settlement and recordkeeping functions in U.S. financial markets.
According to Otte, the centralized structure can make it difficult for investors to transfer assets freely between brokerages. He believes blockchain-based ownership could allow investors to move securities more easily and maintain greater control through their own wallets.
Blockchain Could Become the Record of Stock Ownership
Otte expects blockchain-issued tokens to eventually become a trusted record of securities ownership.
Under this model, investors could hold digital representations of shares directly rather than depending on several intermediaries to record, transfer and settle ownership.
Supporters of tokenized securities argue that this approach could improve settlement speed, transparency and accessibility.
However, the industry must still address several challenges, including regulatory differences between countries, blockchain security, liquidity, custody arrangements and interoperability between platforms.
The legal rights of token holders must also remain clearly connected to the underlying securities for tokenized stocks to gain wider investor trust.
Dinari Builds Infrastructure for Financial Institutions
Dinari was founded in 2021 by Gabriel Otte, former LegalZoom executive Chas Rampenthal and Crunchyroll founder Brandon Ooi.
The company has continued developing infrastructure designed to connect regulated financial institutions with blockchain-based settlement systems.
Earlier in 2026, Dinari introduced the Dinari Financial Network. The framework is designed to connect broker-dealers, custodians, exchanges, transfer agents and securities issuers throughout the lifecycle of tokenized assets.
According to Dinari, the network supports:
- Securities issuance
- Trading and settlement
- Asset custody
- Dividend payments
- Corporate actions
- Regulatory responsibilities
The system is designed to allow participating companies to adopt blockchain infrastructure without abandoning their existing regulatory obligations.
Dinari Expands Its Industry Partnerships
Dinari has also worked with established financial and crypto companies on tokenization projects.
Participants connected to the Dinari Financial Network have included Gemini, BitGo and VanEck.
The company also partnered with S&P Dow Jones Indices and Chainlink to bring the S&P Digital Markets 50 Index onto blockchain infrastructure.
These partnerships demonstrate Dinari’s broader goal of building a regulated connection between traditional capital markets and decentralized blockchain networks.
Tokenized Equities Move Closer to Mainstream Adoption
Dinari’s U.S. launch marks another major step in the development of tokenized stock trading.
Giving eligible investors access to the entire S&P 500 through self-custody wallets could make blockchain-based equities more familiar to mainstream market participants.
The platform’s success will depend on whether it can provide sufficient liquidity, reliable custody, regulatory protection and a simple user experience.
Investors will also need to understand that tokenized shares remain exposed to normal stock market risks, along with additional risks linked to blockchain networks, wallets, smart contracts and platform infrastructure.
Even with those challenges, the growing involvement of Dinari, Robinhood, Coinbase and other financial firms suggests that tokenized securities are becoming an increasingly important part of the digital asset industry.
