Deployments · platform by Dinari

Dinari dShares tokenised US stocks and ETFsUpdated 6 Nov 2026

Dinari issues dShares, tokens each backed by a US stock or ETF held in custody, and licenses its API to brokers, wallets and fintechs that want to offer them. Gemini used dShares for its EU tokenised-stock range from June 2025; in August 2026 Dinari opened 724 stocks to eligible US investors in self-custody wallets, settled in USDC through a Circle partnership, on Ethereum, Arbitrum, Avalanche and Base. Fintech issuer with an affiliated broker-dealer; value on-chain is small.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since Jun 2025^[1] — About $12 million of stock tokens on RWA.xyz in October 2026. · Reviewed 12d ago

Assets: Structured note^[2]
Tokens each backed by a corresponding US stock held in custody
^[3]
Networks: Ethereum Public, permissionless^[2]
Arbitrum Public, permissionless^[2][1]
Avalanche Public, permissionless^[2]
Base Public, permissionless^[2]
Use cases: Secondary trading^[3]
Jurisdictions: United States, European Union

Participants

DinariPlatform provider, Issuer, Operator^[2][3]United States
GeminiDistributor^[1]United States
CircleCash leg provider^[2]United States
AlpacaCustodian^[5]United States
FassetDistributor^[6]United Arab Emirates
Flow TradersMarket maker or liquidity provider^[6]Netherlands
FordefiTechnology provider^[7]United States

Likely relevant regulation

Central Securities Depositories Regulation (CSDR), Regulation (EU) No 909/2014European Union
EU DLT Pilot RegimeEuropean Union
SEC framework for tokenised securities and crypto assets (federal securities laws, staff statements and exemptive relief)United States

Assets

IssuesDinari dShares (family)^[2]

Metrics

724 stocksTokenised stocks offered to US investors · as of 5 Aug 2026^[2]
~$11.95mValue of tokenised stocks · as of 12 Oct 2026^[3]
On-chain via RWA.xyz; 688 stock tokens counted.
~$3.8m / monthTransfer volume · as of 12 Oct 2026context^[3]
Trailing 30-day on-chain transfer volume of stock tokens via RWA.xyz.
17,698 holdersToken holders · as of 12 Oct 2026^[3]
Holders of stock tokens via RWA.xyz.
~$12.23mValue of tokenised stocks · as of 26 Oct 2026^[4]
On-chain via RWA.xyz platform league table; 732 stock tokens counted.

Timeline

Happened Aug 2026 (month only) · Scope expansion · recorded 13 Oct 2026
Dinari opens 724 tokenised US stocks to eligible US investors and businesses in self-custody wallets, settled in USDC.^[2]
Happened Jun 2025 (month only) · Launch · recorded 13 Oct 2026
Gemini starts offering tokenised stocks to EU customers using Dinari's dShares, beginning with Strategy (MSTR) on Arbitrum.^[1]

Sources

[1]We've Launched Tokenized Stocks, Starting With MicroStrategy (MSTR) — Gemini. Accessed 13 Oct 2026. Blog post is in English on Gemini's Spanish-locale path; the page carries no date, and search listings date it to late June 2025..B
[2]Dinari Offers First U.S Tokenized Stocks Available in U.S. — Markets Media, 5 Aug 2026. Accessed 13 Oct 2026. Carries Dinari's press release..C
[3]Dinari platform dashboard — RWA.xyz. Accessed 13 Oct 2026.A
[4]Tokenized stocks dashboard — RWA.xyz. Accessed 27 Oct 2026. Platform league table (data updated 26 Oct 2026)..A
[5]dShares™ — Dinari. Accessed 6 Nov 2026.B
[6]Partners — Dinari. Accessed 6 Nov 2026.B
[7]Dinari dShares - Terms and Conditions (Add Managed USD+ 11 — Dinari. Accessed 6 Nov 2026.B

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