Key Takeaways
- Securitize expanded STAC to Solana, with Ethena planning a $250M allocation.
- Solana RWA activity rose 75% in 30 days as chains compete for tokenized assets.
- STAC brings exposure to the $1.3T CLO market through regulated onchain securities.
Ethena Backs Solana RWA Push With Investment in Securitize Fund
Securitize is bringing its tokenized AAA CLO fund to Solana, adding another institutional credit product to a blockchain increasingly competing for real-world asset activity.
The company said the Securitize Tokenized AAA CLO Fund, known as STAC, is now expanding to Solana. Ethena Labs plans to allocate $250 million to the fund, one of the largest announced commitments to tokenized structured credit in the Solana ecosystem.
STAC was developed with BNY, which serves as custodian for the fund’s underlying assets and sub-adviser through BNY Investments. The fund focuses on U.S. dollar-denominated AAA-rated collateralized loan obligation tranches sourced from primary and secondary markets.
The strategy does not use leverage and seeks to provide floating-rate structured credit exposure through a regulated tokenized fund.
Carlos Domingo, co-founder and CEO of Securitize, said tokenization works best when high-quality assets are paired with blockchain infrastructure that can improve speed, efficiency, and access. He said:
Expanding STAC to Solana brings one of the largest fixed-income markets in the world onto one of the most active blockchain ecosystems. Ethena’s planned allocation further demonstrates how tokenized real-world assets are becoming core infrastructure for the next generation of finance.
Solana Pushes Deeper Into Tokenized Credit
The expansion comes as Solana attracts more tokenized asset activity. Securitize assets on Solana have increased by 75% over the past 30 days, before accounting for Ethena’s planned $250 million allocation.
That growth highlights a broader competition among major blockchains to become the preferred settlement layer for tokenized finance. If real-world asset ( RWA) markets grow into the trillions, as many industry forecasts suggest, the fight for institutional issuance could become a defining rivalry across public chains.
Nick Ducoff, head of institutional growth at the Solana Foundation, said STAC’s launch on Solana reflects the growing link between traditional financial assets and blockchain-based markets, calling Solana the “premier destination for institutional capital moving onchain.”
Ethena founder Guy Young said tokenized real-world assets are likely to become important building blocks for scalable onchain financial systems. He remarked:
Our planned allocation to STAC reflects our conviction that institutional-grade credit products can become foundational components of the onchain economy.
The CLO market is one of the largest segments of structured credit. Global CLO issuance exceeds $1.3 trillion, according to Bank of America Global Research data cited by Securitize.
Eligible investors can subscribe to STAC through Securitize’s regulated platform. Shares are issued as digital securities, with Securitize providing KYC, AML checks, investor accreditation, transfer-agent infrastructure, and onchain ownership records.
Securitize, which has announced a proposed business combination with Cantor Equity Partners II, has become one of the main platforms for regulated tokenization. STAC now joins its broader suite of institutional products issued across public blockchains.
