Securitize, the largest tokenization platform with over $4 billion in tokenized assets, has announced the launch of a new stablecoin backed by tokenized private credit assets. The project is a collaboration with private markets investment manager Hamilton Lane, crypto exchange OKX's investment arm OKX Ventures, and stablecoin infrastructure firm STBL.
The new stablecoin, described as an ecosystem-specific stablecoin, will be issued on OKX's X Layer network. It will be backed by tokenized exposure to Hamilton Lane's Senior Credit Opportunities Fund through a feeder structure facilitated by Securitize. The initiative aims to combine institutional private credit, regulated tokenization, and programmable settlement to support what the partners call the "next generation onchain financial infrastructure."
A key feature of the stablecoin is its dual-token architecture, designed to separate yield generation from the stable unit itself. This structure is a direct response to increasing regulatory scrutiny in the United States, particularly concerning stablecoins that distribute passive returns to holders. The recent U.S. market structure bill included provisions seeking to ban passive yield on stablecoin holdings.
Under this model, returns accrue at the collateral layer—the tokenized private credit assets—rather than being paid directly to stablecoin holders. STBL stated that this framework is intended to align with emerging regulatory expectations that seek to distinguish stable payment instruments from investment products. The stablecoin itself will not be categorized as yield-bearing.
STBL called the launch a "definitive leap forward in the convergence of institutional private markets and onchain finance," adding that it "brings deep liquidity, programmable settlement, and compliant yield management to the X Layer ecosystem." Securitize is backed by major financial institutions including BlackRock and Morgan Stanley.
