Securitize Expands STAC to Solana as Ethena Plans $250M Allocation in Major RWA Push

The race to dominate the tokenized real-world asset (RWA) market is heating up as Securitize announces the expansion of its Tokenized AAA CLO Fund (STAC) to the Solana blockchain, alongside a planned $250 million allocation from Ethena Labs.

The move represents one of the largest commitments to tokenized structured credit on Solana to date and highlights the growing battle among blockchain networks to attract institutional capital as traditional financial products increasingly move onchain.

A Major Milestone for Tokenized Credit

Securitize, one of the world's leading tokenization platforms with more than $4 billion in assets under management, revealed that its Securitize Tokenized AAA CLO Fund (STAC) is now available on Solana.

The fund focuses exclusively on AAA-rated collateralized loan obligations (CLOs), one of the largest segments of global fixed-income markets. Developed in partnership with BNY, which serves as custodian and sub-adviser through BNY Investments, STAC provides institutional investors access to investment-grade structured credit through blockchain-based infrastructure.

Adding further weight to the launch, Ethena Labs plans to allocate $250 million into the fund, signaling growing institutional confidence in tokenized credit products.

Carlos Domingo, Co-Founder and CEO of Securitize, described the expansion as another step toward bringing traditional financial markets onchain.

"Tokenization is most powerful when it combines quality assets with the speed, efficiency and accessibility of blockchain infrastructure," Domingo said.

Solana's Growing Appeal to Institutions

The announcement comes at a time when Solana is rapidly emerging as a preferred destination for tokenized assets.

According to data shared by Securitize, assets tokenized on Solana through the platform have increased approximately 75% over the past 30 days alone, even before Ethena's planned $250 million allocation.

Recent figures place Solana among the fastest-growing blockchain networks for tokenized assets, with more than $611 million in tokenized real-world assets currently represented on the network.

This growth positions Solana behind only Ethereum and zkSync Era in Securitize's latest RWA rankings, reflecting increasing institutional interest in its high-performance blockchain architecture.

Nick Ducoff, Head of Institutional Growth at the Solana Foundation, emphasized the network's role in supporting institutional finance.

"Solana is the premier destination for institutional capital moving onchain," Ducoff said. "The launch of STAC on Solana highlights the growing convergence between traditional financial assets and blockchain-based markets."

Why CLOs Matter

Collateralized Loan Obligations may not be as widely discussed as Treasury-backed tokenized products, but they represent one of the largest and most mature segments of global credit markets.

Global CLO issuance exceeds $1.3 trillion, making it a massive opportunity for tokenization.

STAC invests substantially all of its assets in U.S. dollar-denominated AAA-rated CLO tranches sourced from both primary and secondary markets. The strategy does not use leverage and focuses on generating attractive risk-adjusted returns through floating-rate structured credit exposure.

By bringing CLO exposure onto blockchain rails, Securitize aims to reduce operational inefficiencies associated with traditional institutional investing while improving settlement, ownership transparency and accessibility.

Ethena Sees RWAs as Core Infrastructure

For Ethena Labs, the allocation reflects a broader belief that tokenized real-world assets will become a foundational component of decentralized financial infrastructure.

The company, known for developing USDe and USDtb, has become one of the most influential players in the crypto-native financial ecosystem.

Guy Young, Founder of Ethena, believes institutional-grade credit products will play a critical role in the evolution of onchain finance.

"As onchain finance evolves, we believe tokenized real-world assets will play an increasingly important role in supporting scalable, capital-efficient financial systems," Young said.

The planned $250 million allocation represents one of the largest publicly announced investments into a tokenized credit product in the crypto industry to date.

The Blockchain Battle for Trillions

Beyond the immediate investment, the announcement underscores a larger trend transforming both crypto and traditional finance.

Tokenized assets have become one of the fastest-growing sectors in digital finance, attracting participation from major institutions including BlackRock, Apollo, Hamilton Lane, KKR and Franklin Templeton.

Industry forecasts suggest that tokenized assets could eventually represent trillions of dollars in value over the coming decade.

As a result, blockchain ecosystems are increasingly competing to become the preferred infrastructure layer for these assets.

Ethereum continues to lead the sector with more than $1.2 billion in tokenized assets tracked through Securitize's ecosystem. However, networks such as Solana, Avalanche, Aptos and zkSync are rapidly gaining market share by offering lower transaction costs, faster settlement and improved scalability.

The latest STAC expansion illustrates how this competition is evolving beyond retail-focused crypto applications and toward institutional financial products capable of attracting substantial capital allocations.

Securitize Continues Expansion Ahead of Public Listing

The announcement also arrives during a pivotal period for Securitize.

The company is currently pursuing a proposed business combination with Cantor Equity Partners II (NASDAQ: CEPT), which would see the combined entity listed on the New York Stock Exchange under the ticker symbol SECZ, subject to shareholder approval and regulatory requirements.

As Securitize continues to expand its suite of tokenized investment products across multiple blockchain networks, the company is positioning itself at the center of the rapidly growing convergence between traditional finance and blockchain technology.

With institutional investors increasingly seeking yield-generating, regulated and transparent onchain assets, the launch of STAC on Solana and Ethena's planned $250 million allocation may represent another significant step toward mainstream adoption of tokenized finance.

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