Tokenized securities firm Dinari joined the Blockchain Association on July 21 as U.S. lawmakers weigh rules for onchain stocks, pitting direct-ownership models against derivative competitors.
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Tokenized securities provider Dinari joined the Blockchain Association on July 21. The Washington group said Dinari will contribute to policy discussions on tokenization and market structure as lawmakers weigh new rules.
Dinari operates dShares, a platform for tokenized U.S. stocks and ETFs. Each dShare links to an underlying security held with licensed custodians and provides rights including corporate actions and redemption based on market prices. Dinari is an SEC-registered transfer agent. Its broker-dealer subsidiary is registered with the SEC and belongs to FINRA and SIPC.
Dinari CEO Gabriel Otte said long-term adoption depends on preserving the trust and investor protections found in traditional markets. The company wants to work alongside existing financial rules, he said.
The membership comes alongside a rush of development in tokenized stocks. Robinhood launched its own blockchain mainnet on July 1, sending its stock up 14%. The company put tokenized stocks at the center of its crypto strategy. Robinhood describes its Classic Stock Tokens as derivatives under European rules. Coinbase and Base are also preparing their own 1:1-backed model. Base founder Jesse Pollak said Coinbase and Base were close to supporting 1:1-backed equities. He contrasted that planned structure with stock-linked products that give users price exposure without direct ownership.
Dinari is also building the Dinari Financial Network. The network connects broker-dealers, exchanges, custodians, issuers, transfer agents and other regulated firms through a shared framework for tokenized securities. The system covers issuance, trading, custody, clearing, settlement, dividends and corporate actions. Dinari says participating institutions can keep their existing customer relationships and regulatory duties while using shared infrastructure for tokenized products. The framework also plans to support 24/7 trading and stablecoin-based settlement.
The company has already worked with several established market participants. Its earlier Dinari Financial Network launch named Gemini and BitGo among initial validators. Dinari also partnered with S&P Dow Jones Indices and Chainlink to bring the S&P Digital Markets 50 Index onchain.
Dinari promotes products backed directly by underlying securities. Robinhood describes its Classic Stock Tokens as derivatives under European rules. The SEC has not yet taken a public stance on either model, though the question is pressing as more platforms enter the space.
Dinari has previously supplied tokenized stocks to other platforms. Gemini expanded its European tokenized stock offering through a partnership with Dinari, granting eligible users access to tokenized versions of U.S. equities.
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