Dinari and tZERO have formed a strategic partnership to offer broker-dealers a regulated operating framework for tokenised US stocks, combining dShares issuance with brokerage, custody, clearing and settlement infrastructure.
Dinari and tZERO Announce Strategic Partnership on 8 July 2026
On 8 July 2026, San Mateo, California and New York, United States — Dinari Inc., a platform for tokenised US-listed company shares, and tZERO Group, Inc., a regulated blockchain financial infrastructure provider, announced a strategic partnership to build a unified operating framework for broker-dealers seeking to offer tokenised US equities.
The partnership combines Dinari’s dShares tokenised equity issuance technology with tZERO’s regulated brokerage, custody, clearing, settlement and shareholder services infrastructure, enabling firms to integrate tokenised equities through a single connection across the full lifecycle of issuance, custody, trading, clearing, settlement and shareholder services.
Competition Intensifies in the Regulated Tokenised Securities Market
Industry Shifts from Token Issuance to Full Market Infrastructure
The announcement comes as regulated tokenised securities have become one of the most competitive segments in the digital assets sector. Broker-dealers, exchanges and infrastructure providers are racing to bring traditional equities on-chain while maintaining existing investor protection mechanisms and complying with securities regulations.
The partnership reflects a broader industry shift: from simply issuing tokens to building full market infrastructure capable of supporting institutional adoption. For broker-dealers, the challenge is not the token technology itself, but how to integrate multiple regulated service providers into a compliant workflow without rebuilding existing business systems.
Background of the Two Companies
Dinari was founded in 2021 and focuses on bringing US equities into an on-chain environment through its dShares platform. Its subsidiary obtained broker-dealer registration in June 2025, becoming the first tokenised equity platform in the United States approved to legally offer blockchain-based equities to domestic investors. Founded in 2014, tZERO is one of the earlier companies to build a regulated blockchain securities market, providing end-to-end financial infrastructure for institutions and partners.
(Sources: Dinari Inc. & tZERO Group, Press Release via NEWMEDIAWIRE, published on 2026-07-08; Reuters, “Dinari granted first broker-dealer registration”, published on 2025-06-26.)
Integration of Issuance Technology and Regulated Market Infrastructure
Under the partnership agreement, Dinari’s dShares technology will be integrated with tZERO’s regulated brokerage infrastructure to create a unified platform covering the issuance, custody, trading, clearing, settlement and shareholder services of tokenised US equities. The two companies aim to provide an operating framework that can connect to existing brokerage businesses, rather than requiring broker-dealers to source multiple vendors for each stage of the lifecycle.
Unlike many early tokenisation models, Dinari’s dShares use a custodial structure in which each token is backed one-to-one by the corresponding underlying security held by a licensed custodian. According to Dinari, investors retain the economic rights associated with holding traditional shares, including dividend payments, corporate action processing and trade execution at theNBBO.
“Tokenised equities will only gain true mainstream acceptance when brokers can offer them as naturally as they offer traditional securities. By integrating the key components required to support tokenised equities, we are significantly simplifying the process for brokers to launch and scale these products, while providing the necessary support for new products and services built on tokenised securities. The ultimate goal is to enable investors to make more effective use of their shares.”
“Broker-dealers need more than tokenised assets; they need regulated infrastructure that is ready to deploy, operational simplicity and an economic model worth adopting. This partnership is designed to give institutions a practical path to participate in the tokenised securities market through an integrated framework for issuance, trading, custody, clearing, settlement and asset servicing.”
Core Functions of the Integrated Operating Framework
The joint solution is designed to address the core operational barrier faced by broker-dealers entering the tokenised securities sector: integrating multiple regulated service providers into a single compliant workflow. The combined framework covers the following capabilities:
24-hour trading of eligible tokenised equities;
Native fractional investing, supporting amount-based allocation and automated rebalancing;
Stablecoin settlement and dividend distribution;
Automated corporate actions and proxy voting services;
Multiple custody models, including omnibus accounts and self-custody wallets;
APIconnectivity for broker-dealers, fintech companies, registered investment advisers and neobanks.
Key Milestones in the Dinari and tZERO Partnership
| Timeline | Event/Capability | Relevant Party | Key Details |
|---|---|---|---|
| 2014 | tZERO founded | tZERO Group | Began building regulated blockchain securities trading market infrastructure |
| 2021 | Dinari founded | Dinari Inc. | Launched the dShares platform to bring US equities into an on-chain environment |
| 2025-06-26 | Broker-dealer registration approved | Dinari subsidiary | Received the first US broker-dealer registration approval for a tokenised equity platform |
| 2026-07-08 | Strategic partnership announced | Dinari, tZERO | Released a unified operating framework integrating dShares with regulated brokerage, custody and clearing infrastructure |
As the network expands, the two companies also plan to support permissioned on-chain liquidity, collateral management, financing and issuer-sponsored tokenisation programmes. The partnership is also an important step in Dinari’s vision for the dShares Financial Network (DFN), which aims to connect broker-dealers, exchanges, issuers, custodians and other regulated market participants, enabling broader distribution, deeper liquidity and more efficient post-trade processes through a shared market framework.
(Sources: Dinari Inc. & tZERO Group, Press Release via NEWMEDIAWIRE, published on 2026-07-08, platform functions and dShares Financial Network section; CoinDesk, published on 2026-07-08, partnership background report.)
Competitive Landscape of the Tokenised US Equity Market
As the scale of tokenised Treasury products has already exceeded several billion dollars, market participants increasingly view US-listed company shares as the next major opportunity. Infrastructure providers are moving from isolated products towards building complete ecosystems. In 2026, 24X Exchange advanced plans for regulated market infrastructure for tokenised US equities, while digital asset companies such as Coinbase and Kraken have also been exploring blockchain-based equity businesses.
For broker-dealers, tokenised equities may offer more than a new investment product. They may also enable continuous trading, lower settlement friction, programmable corporate actions and new collateral models integrated with on-chain financial services. Whether these capabilities can become mainstream depends on whether institutions can deploy regulated operating infrastructure without rebuilding their existing businesses. The partnership between Dinari and tZERO is aimed at this demand.
Questions Related to the Tokenised US Equity Operating Framework
How does the dShares custody model differ from traditional tokenisation?
Dinari’s dShares use a custodial structure in which each token corresponds one-to-one with the underlying security held by a licensed custodian. Investors retain traditional equity economic rights, including dividends, corporate actions and trade execution at the National Best Bid and Offer. Minting or burning only occurs after the corresponding order has been completed in a brokerage account, ensuring genuine one-to-one backing. This differs from many early tokenisation models that lacked direct support from underlying securities.
What is the practical significance of this partnership for broker-dealers?
Broker-dealers typically need to connect separately with multiple regulated vendors for issuance, custody, trading, clearing, settlement and shareholder services. Dinari and tZERO integrate these stages into a single operating framework, supporting access to existing brokerage operations through one API connection. This reduces technology integration and compliance coordination costs, allowing institutions to offer tokenised US equities as naturally as they offer traditional securities.
What on-chain trading features does the combined framework include?
The framework supports 24-hour trading of eligible tokenised equities, native fractional investing, stablecoin settlement and dividend distribution, automated corporate actions and proxy voting services, and multiple custody models such as omnibus accounts and self-custody wallets. It provides API connectivity for broker-dealers, fintech companies, registered investment advisers and neobanks, supporting modern workflows such as amount-based investing and automated portfolio rebalancing.
What regulatory progress has Dinari previously made in the United States?
Dinari’s subsidiary obtained US broker-dealer registration in June 2025, becoming the first tokenised equity platform to receive this type of approval and enabling Dinari to offer blockchain-based stock trading services to domestic investors. The company said it is in discussions with the US Securities and Exchange Commission to move towards a formal US market launch. dShares had previously been made available to non-US users through decentralised finance platforms such as Coinbase Base.
