Buyers of Securitize’s Solana-based stock entitlements do not become registered shareholders at purchase, with direct ownership possible only after conversion where the route is available.
Each entitlement is backed by an existing share and is structured to preserve that share’s applicable benefits and rights, including dividends and voting when the share class provides them.
A purchase alone does not place the buyer on the issuer’s shareholder register. Where available, holders may complete a conversion that records direct ownership in the issuer’s transfer-agent books.
Earlier EconoTimes coverage of Ripple Prime’s review reported that conversion may depend on an issuer creating its own tokenization program. The companies behind the referenced shares had not sponsored or endorsed the offering, the earlier story said.
Securitize said its entitlements could trade on a planned New York Stock Exchange digital venue if it launches and meets applicable regulatory and operational requirements.
The temporary SEC order creates a conditional route for certain venues using permissioned automated market makers and liquidity pools. It requires venues to notify issuers and allows them to object if an unaffiliated party tokenizes their stock. The order sets limits on eligible symbols and trading volume, while requiring tokenized shares to carry rights and privileges equal to conventional shares. The relief expires five years after publication.
