Dinari and tZERO Build Platform for Tokenized Stocks

The mix of Dinari’s dShares and tZERO’s brokerage and settlement stack is designed to give broker-dealers quicker access to regulated blockchain stocks.

Key Takeaways

• Dinari and tZERO are building a turnkey platform that would let broker-dealers offer tokenized U.S. equities.
• The setup brings together tokenized stocks with brokerage, custody, clearing, and settlement infrastructure, along with shareholder communications.
• The deal comes as tokenized equities are growing fast and regulated access and settlement are becoming more important.

Dinari and tZERO are joining forces to give broker-dealers a ready-to-use platform for tokenized U.S. equities. The partnership is designed to help financial firms offer blockchain-based stocks without having to build the full market plumbing from scratch.

Turnkey for Broker-Dealers

The companies are pairing Dinari’s tokenized stock platform with tZERO’s brokerage, custody, clearing, and settlement infrastructure. In practice, that should let broker-dealers roll out a blockchain stock product more quickly, while also adding shareholder communications and, down the line, onchain collateral and financing services to the same platform.

That lines up with a market where tokenized equities are increasingly being treated as a major real-world asset use case. Early attention was mostly on tokenized Treasury funds, but the focus is now moving toward public stocks. The appeal is straightforward: blockchain-based trading, settlement, and shareholder recordkeeping could be handled more efficiently.

The Fight Over the Model

The industry still has no single answer for how tokenized stocks should be structured. Companies such as Robinhood and Kraken’s xStocks are using blockchain-based representations tied to offshore setups, often as synthetic tokens for non-U.S. investors. Securitize took a different route last week, pushing a model where the issuer itself brings the shares onchain, with a listing on the New York Stock Exchange and a version on Avalanche and Solana.

Dinari falls somewhere between those two approaches. The company says its dShares are backed one-to-one by the underlying shares held with regulated custodians, and that investor rights such as dividends and corporate actions remain intact. In that context, the tZERO partnership is mainly about putting a more standardized regulated market layer around the product.

Why This Matters for Europe

For European crypto readers, the deal is another sign that tokenization is moving beyond funds and stablecoins and into the infrastructure that supports traditional stocks. The rise of tokenized equities, along with the spread of networks like Ethereum, Solana, Arbitrum, Base, and Plume, suggests the market is fragmenting quickly. For European companies, that matters because demand for regulated access, custody, and settlement is becoming a bigger part of new blockchain-based investment products.

Dinari already received broker-dealer registration in June 2025 for a subsidiary, making it the first U.S. company that, according to the company, was allowed to legally offer blockchain-based shares to domestic investors. Founded in 2014, tZERO was already one of the first firms to build regulated infrastructure for blockchain-based securities, and in January 2026 it worked with North Capital on Agora, a network designed to connect ATSs for broader access to tokenized and private securities.