Securitize puts Apple, Nvidia and Tesla stock on Solana, and lets eligible US investors in

Securitize, the tokenization company listed on the New York Stock Exchange, launched tokenized versions of US stocks on Thursday, October 8. The product, Securitize Stocks, runs on the Solana blockchain and settles trades in the stablecoin USDC, the company said in a statement.

The initial offering will include 12 names, the company said: Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta, Amazon, Netflix, Circle, SpaceX, Strategy and Palantir. The Block reported that the big technology stocks come first, with Circle and Strategy expected to follow.

The pitch is ownership, not just a price that follows a stock. Each token is backed 1:1 by a share held through Securitize's brokerage and represents a legal claim on it, known as a security entitlement. Holders receive dividends, and voting rights where the share class carries them. They are not registered shareholders unless they convert the token into a share on the issuer's books, where that is available. The underlying shares are not lent out, and the issuers have not sponsored or endorsed the product.

Access is limited to eligible investors who pass identity checks. In the US the tokens are offered by Securitize Markets, a FINRA-member broker-dealer, and in the EU by a Securitize brokerage unit there. Jump Trading will serve as a market maker.

Trading starts in extended US market hours, with a plan to move toward 24/7. Securitize also expects the tokens to be available on the NYSE's planned round-the-clock digital venue and on OKXICE, the venue backed by OKX and NYSE owner Intercontinental Exchange. Neither has launched yet.