Tokenized securities platform Securitize announced a partnership with quantitative trading firm Jump Trading and the decentralized exchange protocol Jupiter to launch regulated, all-on-chain tokenized stock trading services on Solana.
The partnership combines Securitize’s compliance and securities market infrastructure, Jump’s liquidity capabilities, and Jupiter’s distribution entry point for DeFi users—aiming to move tokenized stocks beyond the “issuance” stage, toward a market structure with liquidity, price discovery, and secondary market trading capabilities.
Securitize announced a partnership with Jump Trading and Jupiter
Securitize said the integration builds a complete stack of market structure. Real stock assets will be issued, acquired, and traded on-chain, while still being regulated under existing securities law frameworks. In other words, this is not simply wrapping stock prices as on-chain derivatives; it attempts to bring issuance, trading, custody, clearing, and settlement from the traditional securities market onto the chain in a regulated way.
Within this setup, Jump will provide liquidity via its PropAMM on Solana, targeting tighter bid-ask spreads and more authentic price discovery for tokenized stock trading. Jupiter, meanwhile, will provide a familiar frontend and trading entry for DeFi users, letting users access tokenized stocks in a way that is close to trading on-chain assets.
Securitize will handle core compliance and execution-layer functions, including broker-dealer services, ATS alternative trading system infrastructure, transfer agent transfer agent infrastructure, and a KYC-supporting wallet system.
This indicates that Securitize wants to address the biggest questions tokenized stocks have faced in the past: “Tokenization” alone is not enough. Without compliant custody, secondary-market liquidity, price discovery, trade matching, and clearing/settlement mechanisms, tokenized stocks are likely to remain merely showcase assets on-chain, difficult to become a truly scalable financial market for trading.
FINRA approves an expansion of broker-dealer business
Beyond the partnership with Jump and Jupiter, Securitize also announced that it has received FINRA Continuing Membership Application (CMA) approval, allowing it to significantly expand its broker-dealer business. Securitize said this makes it the first broker-dealer approved to custody tokenized securities, and gives the company its first complete stack of on-chain IPO infrastructure.
The key to this approval is that Securitize Markets can not only provide trading services, but also custody tokenized securities, and support on-chain clearing and settlement between tokenized securities and stablecoins. Securitize noted that this will make atomic swaps possible—meaning the exchange of tokenized securities and stablecoins can be completed within a single transaction—reducing operational complexity and settlement risk that are common in traditional financial markets.
In traditional securities markets, trading, clearing, settlement, and custody are often handled by different institutions and processes, creating time lags and counterparty risks. What Securitize is presenting in its on-chain version is: securities and payments can settle simultaneously, and asset transfer and funds settlement can be completed within the same on-chain transaction. If it can be implemented within a compliant framework, this would be one of the most persuasive selling points of tokenized securities compared with traditional market infrastructure.
In addition, Securitize Markets can now also act as an underwriter or be part of the selling group in the issuance of tokenized securities, further strengthening its trading and distribution capabilities. This means Securitize’s role is no longer just a tokenization service provider—it is gradually moving toward an integrated platform for securities issuance, distribution, trading, custody, and settlement.
The meaning of FINRA CMA recognition: not merely allowing “tokenization”
The significance of this FINRA CMA recognition is not only that Securitize is allowed to engage in “tokenization”-related business; it also enables it to expand the scope of broker-dealer operations into more complete on-chain securities market infrastructure.
FINRA’s CMA, whose full name is Continuing Membership Application. For existing FINRA member organizations in the United States, if a company needs to change ownership, control, or its business operating model—especially when launching a new line of business, product type, or making a major operational structure change—it typically requires applying to FINRA through a CMA and obtaining approval.
Applied to Securitize, this means Securitize Markets is not just providing tokenization technology or RWA issuance services, but can, under a regulated broker-dealer framework, further handle custody, trading, clearing, and settlement for tokenized securities, as well as participate as an underwriter or in the selling of tokenized securities issuances. In other words, what Securitize wants to build is not a single-point service of “turning stocks into tokens,” but a full suite of market infrastructure—securities issuance, distribution, trading, custody, and settlement—moved onto the chain.
Among the most critical breakthroughs, Securitize states it has become the first broker-dealer approved to custody tokenized securities. Securities markets are not just about trading interfaces; the real difficulty is who can legally hold, transfer, record, and protect these securities assets. Without compliant custody, even if tokenized stocks can be issued, they can easily remain at the “can be displayed, but hard to trade and settle at scale” stage.
What is a broker-dealer? Why is it the core of compliant tokenized stock trading?
A broker-dealer can be simply understood as a regulated financial institution in the U.S. securities market that is allowed to buy and sell securities for customers and also trade securities using its own account. The term is actually a combination of two roles: broker and dealer.
A broker is an “intermediary,” mainly representing clients in placing orders, matching, or executing trades, and earning commissions or fees from it. For example, when investors want to buy stocks, the brokerage helps send orders to an exchange, an ATS, or other trading venues. A dealer is a “trader,” able to buy and sell securities using its own account, quoting prices to clients, providing liquidity, and profiting from the bid-ask spread.
Therefore, a broker-dealer is a compliant intermediary in the securities market. In the U.S., common brokerage firms, investment banks, market makers, and some ATS alternative trading systems may need a broker-dealer license or have their related business taken on by an entity acting as a broker-dealer.
In Securitize’s case, the importance of broker-dealer is that tokenized stocks are still securities at their core, not ordinary cryptocurrencies. To issue, sell, trade, match, underwrite, or handle securities transactions in a compliant way in the United States, you typically cannot rely only on DeFi interfaces or technology platforms—you need a broker-dealer entity regulated by the SEC and FINRA.
That means that Securitize having broker-dealer capabilities indicates it is not just a technology company “putting stocks on-chain,” but can handle securities transactions within a regulated framework. After obtaining FINRA CMA recognition, its broker-dealer business scope further expands, giving on-chain atomic settlement between tokenized securities and stablecoins a more institutional foundation.
Jupiter becomes the distribution entry point, and tokenized stocks begin reaching DeFi-native users
In the partnership announcement, Jupiter’s CEO Xiao-Xiao said that through Jupiter, tokenized stocks become easier to access, enabling these assets to be brought to millions of users worldwide, and pushing tokenization from proof of concept toward scalable solutions.
This highlights Jupiter’s strategic position in the partnership. Securitize has regulated securities infrastructure, Jump can provide liquidity, but without a user entry point, tokenized stocks still struggle to reach crypto users at large scale. As an important trading entry point in the Solana ecosystem, Jupiter can bring tokenized stocks closer to the existing habits of DeFi users.
So, the focus of this collaboration is not just “putting stocks on-chain,” but embedding tokenized stocks into a user environment for on-chain trading that people already know. For DeFi users, the future way to access tokenized stocks may not be logging into a traditional brokerage, waiting for account opening, and completing cross-border brokerage flows; instead, after completing KYC and regulatory requirements through a DeFi interface they already use, they can directly participate in on-chain securities trading.
However, this also means tokenized stocks will not be completely equivalent to permissionless DeFi assets. In its disclosure documents, Securitize explicitly states that the relevant securities are provided by regulated entities such as Securitize Markets LLC and Securitize Europe Brokerage and Markets, and that trading and wallets also involve KYC. That is, this is moving the securities market onto the chain—not turning the securities market into fully unregulated crypto trading.
Jump provides liquidity; the key for the tokenized stock market is not just compliance, but “whether it can actually be traded”
Securitize said Jump will provide liquidity via PropAMM on Solana, enabling trading with tight spreads and real price discovery. This is one of the core factors for whether tokenized stocks can become a market.
In the past, many RWA or tokenized securities projects’ biggest problem was not whether assets could be packaged as on-chain tokens; rather, after being put on-chain, whether anyone would trade them, whether there would be stable quotes, whether there was sufficient depth, and whether prices could reflect real market demand. Without liquidity, even compliant tokenized stocks may remain low-frequency, low-depth showcase assets.
Jump’s involvement suggests Securitize is trying to fill that structural shortcoming in the market. Especially since Solana is known for high throughput and low trading costs, pairing it with institutional-grade market-making capabilities could potentially help tokenized stocks’ secondary market move from “can be held” to “can be traded effectively.”
This also explains why Securitize emphasizes that this partnership marks an important step forward for tokenized stocks: it is not just issuance, but a move toward a scalable, liquid, regulated secondary market.
The next step for tokenized stocks: from the RWA narrative into market infrastructure competition
Securitize CEO Brett Redfearn said that whether it’s a newly listed company or an existing listed company, the reasons to tokenize stocks are becoming more compelling, and the company expects the next developments to follow.
Behind this statement is the idea that tokenized stocks are moving from the broader RWA narrative into a more concrete competition for market infrastructure. Early RWA efforts largely focused on “which assets can be put on-chain,” such as U.S. treasuries, funds, private equity, or stocks. The next set of questions becomes: who can provide compliant issuance? Who can provide custody? Who can handle KYC? Who can provide liquidity? Who can complete on-chain clearing and settlement? And who can distribute these assets to enough users?
What Securitize is currently looking to build is precisely this kind of full-stack model. FINRA CMA approval allows it to expand its broker-dealer capabilities, and its partnership with Jump and Jupiter fills liquidity and frontend distribution entry points, respectively. If this model can be made to work, the competition focus in the tokenized stock market will no longer be just “who can issue a stock token,” but who can truly build an on-chain securities market that is usable, tradable, settleable, and acceptable to regulators.
However, Securitize also reminds in its disclosure documents that digital assets and tokenized assets using blockchain technology still have a high degree of speculation; liquidity may be insufficient; they may have no value; regulatory certainty is limited; and they may face risks of market manipulation and loss of principal. This means that even if tokenized stocks move into a regulated market structure, they are not low-risk products—they are a new type of securities infrastructure sitting at the intersection of traditional financial markets and crypto markets.
This article, “Securitize receives FINRA approval and partners with Jump Trading and Jupiter to launch regulated on-chain stock trading,” first appeared on Chain News ABMedia.
