The San Francisco-based company Dinari has become the first in the US to receive a broker-dealer license for trading tokenized stocks, a move that could reshape the securities market.
First license for tokenized stocks
Dinari stated that it has received a license from regulators and plans to activate its licensed business in the next quarter following the completion of registration with the SEC.
Kraken and Coinbase's plans
In May, Kraken announced plans to offer tokenized versions of over 50 stocks and ETFs. Coinbase also sought approval from the SEC to offer tokenized stocks to users in the US, positioning them as potential next candidates for licensing.
Significance of tokenized stocks
Notably, Dinari's tokenized equities, called dShares, are already available via decentralized finance platforms, but only for users outside the US.
Dinari's licensing may disrupt traditional notions of the stock market and pave the way for other companies like Coinbase and Kraken to follow suit.
