Dinari Opens 724 Tokenized Stocks to US Investors

Dinari launched 724 tokenized stocks for eligible US investors on August 4, including shares in every S&P 500 company. The move is notable because many tokenized-stock products exclude American investors entirely. Dinari is now offering its model inside the market where the underlying companies actually trade. The company was founded by alumni of Stripe and Apple.

How the tokens work

Dinari is a financial platform that creates blockchain-based tokens representing traditional stocks. When an eligible investor buys one, Dinari acquires the corresponding stock through conventional market infrastructure and issues a representative token, called a dShare, to the investor’s verified wallet. The investor holds the token directly. The actual share stays in a custodial brokerage account.

The setup resembles how a traditional broker holds shares in “street name” on a customer’s behalf, instead of the customer holding a paper stock certificate directly. Dinari says each dShare in circulation has a corresponding share held in custody, and holders receive applicable economic rights connected to the backing security, including dividend payments and adjustments for stock splits.

Regulatory structure

Dinari’s product documentation identifies Alpaca Securities as the custodian for the underlying securities. Alpaca is a FINRA-member broker-dealer, meaning it operates under the same regulatory oversight as a traditional brokerage.

Two Dinari entities handle separate functions. The Securities and Exchange Commission lists Dinari Inc. as a registered transfer agent, the type of entity responsible for maintaining official ownership records for securities. Dinari Securities, a separate subsidiary, is a FINRA and SIPC member broker-dealer. The company says the two perform distinct roles within its structure.

Funding, chains and dividends

Eligible users buy and sell the tokenized stocks with USDC through Dinari’s app and initial partner platforms. USDC is a dollar-linked stablecoin, and it provides the payment rail between an onchain wallet and the stock order.

At launch, Dinari supports four blockchain networks: Ethereum, Arbitrum, Base and Avalanche, the underlying systems that record and move the tokens. The company expects to add Sei and Solana later, though it has not provided firm launch dates for either network.

The US service can pay dividends in USDC, letting proceeds remain in the investor’s wallet instead of routing through a separate brokerage cash account.

What the launch does not guarantee

Self-custody gives investors control of the wallet holding their dShares, but it does not carry the anonymity or open access typically associated with self-custodied crypto assets. Buyers must meet eligibility and verification requirements, and transfer controls remain part of the system.

Availability of a token does not guarantee continuous liquidity, narrow spreads or immediate redemption. Dinari discusses 24-hour trading, instant settlement and securities-backed lending as capabilities its infrastructure could support over time, but it describes those features as subject to regulation, product development and implementation. They should not be treated as available across all 724 stocks at launch.

The company has not disclosed opening-day volume, user numbers or typical trading costs. It also has not detailed which partner venues will support secondary transfers or trading outside normal market hours.

>>> Read more: Bitget Launches Stock+ for Real U.S. Stock Ownership

What would prove it out

Dinari’s tokenized stocks still depend on several connected systems, including the blockchain, the issuer, the custodian, the brokerage process and USDC. Self-custody removes neither those dependencies nor the market risk of owning the underlying shares.

Trading volume, spreads, redemption times and the treatment of corporate actions will show how closely the tokens match Dinari’s description.