Siebert Joins Tokenized Securities Race, Selects Tzero as Infrastructure Partner

Muriel Siebert & Co., a Wall Street broker-dealer with roughly $19.5 billion in retail client assets, has selected Tzero’s end-to-end digital securities infrastructure to enter the tokenized securities market.

• Key Takeaways:
• • Muriel Siebert & Co. selected Tzero’s platform to enter tokenized securities markets on June 29, 2026.
• • The first product is GLDY, a gold-backed tokenized security by Streamex Corp., open to accredited investors only.
• • Siebert Financial reported $94.2M in 2025 revenue and $19.5B in client assets as it expands into digital markets.

Siebert Brings Legacy Credibility to Blockchain Markets

The firm, founded in 1967 by the first woman to own a seat on the New York Stock Exchange (NYSE), will leverage Tzero’s integrated platform to handle investor onboarding, compliance, issuance support, custody, secondary market infrastructure, and ongoing lifecycle services. Rather than build proprietary digital asset capabilities from the ground up, Siebert opted for Tzero’s regulated technology stack.

The partnership was announced on Monday and positions Tzero as the infrastructure backbone for Siebert’s push into blockchain-based capital markets.

First Offering: Tokenized Gold via GLDY

The initial product supported by the deal is GLDY, a gold-backed, yield-bearing tokenized security developed by Streamex Corp., a technology company focused on bringing commodity markets on-chain. The offering is structured as a private placement under Rule 506(c) of Regulation D of the Securities Act of 1933, limiting access to accredited investors.

Siebert will act as placement agent, providing investors a familiar broker-dealer experience while the underlying infrastructure runs on Tzero’s blockchain-based platform.

What Tzero Brings to the Table

Tzero’s platform covers the full lifecycle of a tokenized security, including:

• Investor onboarding and KYC
• Issuance support and broker-dealer services
• Custody of tokenized securities
• Secondary market infrastructure
• Clearing, settlement, and transfer agent services

Alan Konevsky, chairman and CEO of Tzero, framed the deal as proof that institutional adoption requires more than blockchain technology.

Konevsky said:

“Traditional financial institutions increasingly recognize that tokenized securities require more than blockchain technology, they require turnkey regulated market infrastructure. We built Tzero to provide that complete, independent foundation.”

John J. Gebbia, CEO of Siebert, pointed to the firm’s longstanding mission of expanding market access. “Tokenized securities represent an important evolution in how investors and issuers can connect, but the opportunity only works when innovation is matched with regulation, transparency, and trust,” Gebbia remarked.

Institutional Adoption Picks up Pace

The Siebert deal reflects a broader pattern among established financial firms seeking compliant on-ramps into digital capital markets. Tzero has positioned its platform specifically for institutions that want to avoid the cost and regulatory risk of building independent digital asset operations.

Siebert Financial Corporation, the publicly traded parent company listed on Nasdaq under the ticker SIEB, reported revenue of $94.2 million for full-year 2025, up 12% year over year. Its retail customer net worth reached $19.5 billion, a 9% increase from the prior year.

The firm operates approximately 10 branch offices across the U.S. and serves clients through desktop, web, and mobile platforms.

What It Means for the Market

The agreement signals that broker-dealers with established client bases and regulatory standing are beginning to treat tokenized securities as a viable product category, not a speculative experiment. Tzero’s model, which bundles issuance, trading, and custody under one regulated roof, appears to be gaining traction as a practical entry point for that transition.