Securitize expanded its tokenized AAA CLO fund to the Solana blockchain on June 12. Ethena Labs plans to allocate $250 million to the fund, marking one of the largest commitments to tokenized structured credit on Solana. The fund, developed with BNY, invests in AAA-rated collateralized loan obligations.
Securitize expanded its tokenized AAA CLO fund to Solana on Friday, with Ethena Labs planning a $250 million allocation to the fund.
"Tokenization is most powerful when it combines quality assets with the speed, efficiency and accessibility of blockchain infrastructure," Carlos Domingo, co-founder and chief executive officer of Securitize, said.
The Securitize Tokenized AAA CLO Fund, or STAC, invests in U.S. dollar-denominated AAA-rated CLO tranches sourced from primary and secondary markets without using leverage. Global CLO issuance exceeds $1.3 trillion, according to Bank of America Global Research. Securitize manages more than $4 billion in tokenized assets as of April, with partners including BlackRock, Apollo and KKR.
The expansion brings one of the largest fixed-income markets onchain as institutional demand for tokenized credit products accelerates. Ethena, the creator of the USDe stablecoin, plans to use STAC as reward-bearing collateral within its onchain financial infrastructure. The $250 million commitment is among the largest allocations to tokenized structured credit on Solana, the company said.
Solana's speed and low transaction costs make it a growing hub for institutional onchain finance, Nick Ducoff, head of institutional growth at Solana Foundation, said. Securitize is pursuing a public listing through a business combination with Cantor Equity Partners II, with a shareholder vote scheduled for June 29. Eligible investors can subscribe to STAC through Securitize's regulated platform, which provides KYC, AML and investor accreditation.
This article is for informational purposes only and does not constitute investment advice.
