Securitize launches 12 tokenized stocks: How German investors can confirm trading qualifications

Starting from October 8, 2026, Securitize will trade twelve tokenized U.S. stocks on the Solana blockchain.

Starting from October 8, 2026, American service provider Securitize will start trading twelve tokenized U.S. stocks on the Solana blockchain. Behind each token is a real share, dividends continue to be generated, and settlement uses the stablecoin USDC. However, there is no final conclusion on whether users from Germany can use this product. Securitize mentions "qualified investors" in the United States, investors in the European Union and other approved markets, but does not clearly define what it refers to. Therefore, due diligence should start here and only after confirmation of qualifications is it worthwhile to further examine issues such as taxation, custody and transaction time.

The product is called "Securitize Stocks" and will be officially launched on Wednesday, October 8, 2026. Twelve companies were initially covered. Decrypt and CoinDesk reports unanimously named eleven companies: Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta, Amazon, Netflix, Circle, Strategy and Palantir. The name of the twelfth company was not mentioned in either report, and a complete list can only be obtained by contacting the provider directly.

交易通过Securitize平台进行，该平台在美国作为注册的经纪交易商运营。流动性由Solana上的自动做市商提供，据CoinDesk报道，Jump Trading担任做市商。根据CoinDesk的消息，结算、托管和清算由服务提供商RQD处理。关于代币在区块链借贷中的后续用途，Decrypt报道称Ripple Prime和Aave正在规划中，但目前的表述更多是审查和意向，而非实际运营。

Securitize并非该领域的新手。该公司在纽约证券交易所上市，股票代码为SECZ。据CoinDesk报道，截至目前，其发行的代币化资产价值已超过45亿美元，并将贝莱德的第一个货币市场基金搬上了区块链。目前，约有3亿美元自有上市股份已在Solana和Avalanche上代币化。作为参考：据The Block报道，区块链上代币化股票的价值近期已突破30亿美元。

一对一背书：每枚代币对应托管的一股真实股票

技术核心简明扼要：每枚代币都由实际存在的股份一对一背书。Decrypt额外报道称，存入的股份不会被借出。这一承诺并非无关紧要的注脚，因为在证券借贷中，股份会暂时转移给第三方，如果该第三方破产，清晰的背书将变成一种债权主张。

Carlos Domingo, CEO of Securitize, emphasized the distinction on the day of launch. "Tokenized stocks should provide investors with something beyond the packaging that tracks stock prices, which is only available offshore," he told Decrypt. Solana Foundation celebrity Nick Ducoff made similar remarks the same day, putting global access at the center.

Wrapper, certificate, endorsement: Three often confused concepts

A wrapper is a shell that only copies the price of the underlying asset, and the provider does not need to hold the shares themselves. This token can track price but still does not convey any ownership requirements for the shares. This is different from a structure with actual endorsements, where each token issued holds one share in custody. Which variant you are dealing with cannot be seen from the price chart, only from the provider's legal documents.

The company's register of shareholders does not show your name, but the name of the intermediary through which your request flows.

Securities Equity: Why your name won't appear on the shareholders 'register

According to its own account, Securitize uses token issuance as "Security Entitlements." The term originates from the U.S. Uniform Commercial Code and denotes a claim against an intermediary rather than a direct registration on the company's register of shareholders. CoinDesk points out that tokens do not establish direct ownership in the roster. Once the corresponding issuer supports tokenization, conversion into registered shares will become possible.

In practice, this means that there is a chain of custody between you and Apple or Nvidia. As long as it exists, you will not notice its existence. If one link fails, the custodian's legal system will determine how much of your claims remain, in which case U.S. law applies. This structure is completely standard in the securities world; your German brokerage account is also operated through intermediaries. What's new is that the chain here runs through an American broker-dealer and a public blockchain, rather than through the familiar combination of home banking and Clearstream.

Settlement in USDC: Bypass through stablecoins and their currency risks

Trading and settlement using the U.S. dollar stablecoins USDC issued by Circle. Users from Germany usually hold euros, so there are two conversion steps: conversion from euros to USDC, and conversion back at the time of sale. Fees are paid for every step, and there is currency risk that has nothing to do with stocks between the purchase and sale. If Apple rose 5% and the dollar fell 4% against the euro, most of the price change would disappear.

The second point involves the stablecoin itself. The USDC has obtained electronic currency token authorization from the European Union and is therefore one of the few dollar stablecoins that can be routinely provided here. But this does not solve the currency problem; it only answers the question of authorization of the means of payment. In any case, U.S. dollar exposure is part of your calculations.

Qualified investors: Securitize's blank space on EU access issues

Both reports mentioned that "qualified investors" in the United States and the European Union have access. The specific meaning of the term remains open. Neither Decrypt nor CoinDesk said whether it referred to retail investors or only professional and qualified investors, and neither report provided any details on identity verification and anti-money laundering check requirements. In U.S. securities law,"qualified" or "recognized investors" are usually tied to wealth or income thresholds, barriers that are far higher than what an ordinary private portfolio can meet.

This sets clear priorities for you. Before taxes, fees or transaction times become important, you need to get answers to access questions and a written answer from the provider: whether retail investors living in Germany are allowed to register, what evidence is needed for registration, and what is the legal basis for accepting German customers. If the provider proactively directs investment services to EU retail customers, authorization under European law is required. If you turn to relying on the customer's own initiative, the risk will be passed on to you. If you prefer to hold the same stock without raising these outstanding issues, the route is through a regulated broker; see our Crypto Broker Comparison for which providers are available in Germany.

MiFID II instead of MiCA: Tokenized stocks are financial instruments, not crypto assets

This is the most common misunderstanding about this type of product. Europe's crypto regulation MiCA regulates crypto assets but excludes instruments that are already considered financial instruments. Even if a tokenized share is transferred on the blockchain, it will still be a share legally. Therefore, securities rules and national regulations under MiFID II apply, rather than the MiCA authorization mentioned by many providers.

In practice, this means two things. A MiCA license does not mean that the provider can sell tokenized shares to you. Moreover, the protection of securities you know, such as appropriateness assessments or disclosure obligations at the time of distribution, depends on whether the provider is approved as an investment company in the EU. On the U.S. side, the Securities and Exchange Commission introduced a rule known as the Innovation Waiver in September 2026, opening up an orderly path for trading venues that handle tokenized securities. The exemption applies to the U.S. market and does not replace the European authorization.

Extended trading hours: Announced that the NYSE platform and OKXICE are not yet online.

At the time of release, trading will be running for the extended time, i.e. beyond the regular exchange time, but not yet running continuously. Securitize targets round-the-clock operations. There are also plans to expand to the all-weather platform announced by the New York Stock Exchange, in which Securitize participates, and the OKXICE trading venue, a joint venture between Intercontinental Exchange and OKX, which filed an application the same week.

Both are subject to conditions. These sites must first be activated and meet regulatory requirements. So the only number that applies to the decision you make today is: Trading on one platform for an extended period of time. Weak trading hours are a side effect of every young market. The bid-ask spread widens, and orders without price limits may be executed at prices you don't expect. Limit orders prevent this; market orders cannot.

To put the context on the release day: On October 8, 2026, Solana was trading at US$108.52, approximately 7.1% lower than the previous day's level. The broad crypto market also fell back that day. For stock tokens themselves, this is initially irrelevant because their value depends on the shares deposited, not the price of the blockchain in which they are located. This becomes relevant in terms of transaction costs, as well as when you use tokens as collateral for a loan.

Fixed withholding tax rather than holding period: Differences in tax benefits between stocks and coins

Anyone who comes from cryptocurrencies raises an expectation that does not hold true here. For cryptocurrencies, the provisions of Article 23 of the German Income Tax Law on private disposal apply, and gains held for one year are exempt from tax. This rule does not apply to stocks. For them, the provisions of Article 20 of the Income Tax Act on income from capital assets apply: a fixed withholding tax of 25%, plus a 5.5% solidarity surcharge on this tax, totaling approximately 26.4%, in addition to church taxes. Savers 'allowance is € 1,000 for single taxpayers and € 2,000 for joint declarations. There is no holding period to make it tax-exempt.

外国提供商带来了两个进一步的要点。如果没有德国付款代理人，不会自动预扣资本利得税，你必须通过KAP表格自行申报收入。此外，美国公司的股息首先面临美国预扣税，可根据双重征税条约减少至15%并在德国税款中抵免。为此，你必须向提供商证明你的税务居民身份。还有一个抵消限制：出售股票的损失只能抵消股票销售的收益，而不能抵消其他投资收入。

这里必须明确一个警告。德国税务机关是否将以美国法律为基础的证券权益视为与股票相同，或者将其分类为另一种资本请求权，取决于具体结构，且本产品尚未确定。我们在单独文章中详细分解了德国代币化股票的税务处理。对于个人案例，应在首次购买前由税务顾问解决，而不是之后。

股息和投票权：公司承诺什么以及限制在哪里

根据Securitize的说法，持有人保留其头寸的经济利益，即股息和投票权。Decrypt增加了一个限制，包含在公司自己的措辞中：投票权在适用时有效。这很有分量，因为行使投票权预设了从代币到股东大会的链条是有组织的。在实践中如何运作，只有在发布后的第一个股东大会季节才会清楚。

股息是更容易的部分。作为一个支付流程，它可以沿托管链传递，USDC为其提供了结算工具。投票权涉及成员权的行使，这取决于谁站在名册中。据CoinDesk报道，这正是代币不站立的地方。

代币化股票：在没有明确准入的情况下，其余皆为理论

这是一项真正的进步：十二个知名的美国名字，一对一背书，在公共区块链上，通过一家在美国注册的经纪交易商。然而，对于德国投资者来说，决定性的问题仍然没有得到回答，仅通过阅读无法解决，只能通过提供商的信息来解决。按此顺序采取三个步骤：

1. 以书面形式澄清准入。 询问Securitize是否接受居住在德国的零售投资者，以及注册需要什么证据。如果答案是否定的或不确定的，你的审查到此结束。为了跨多个平台记录持仓和收入，跟踪器会有帮助，正如我们在税务工具和投资组合跟踪器概述中所展示的那样。
2. 计算货币链的成本。 加总从欧元兑换成USDC的费用、交易费以及返回的费用，并将其与你现有经纪账户中相同证券的成本进行比较。哪些交易场所常规提供USDC，请参见我们的加密交易所比较。
3. 检查头寸的法律形式。Read the contract documents to find out who your claim is against and what will apply if the custodian becomes bankrupt. We have explained why entries in the register are important through the example of the role of a transfer agent.

(As of October 8, 2026. This article does not constitute investment advice. Price and fee structures are subject to change; please check terms with your provider before purchasing.)