Securitize has expanded its Tokenized AAA CLO Fund (STAC) to the Solana blockchain, with Ethena Labs planning a $250 million allocation. The move underscores growing institutional demand for on-chain real-world assets and marks one of the largest tokenized structured credit commitments on Solana.
STAC invests in U.S. dollar-denominated, AAA-rated collateralized loan obligation tranches sourced from primary and secondary markets. The fund, developed with BNY as custodian and BNY Investments as sub-adviser, does not employ leverage and follows a fundamentals-based strategy. According to a June 12 press release, the expansion brings institutional-grade credit products to one of crypto’s most active networks.
“Tokenization is most powerful when it combines quality assets with the speed, efficiency and accessibility of blockchain infrastructure,” said Securitize co-founder and CEO Carlos Domingo. “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 $250 million commitment adds to its existing $250 million allocation to Centrifuge’s Janus Henderson Anemoy AAA CLO Fund (JAAA), bringing its total structured credit exposure to roughly $500 million. Guy Young, founder of Ethena, said tokenized real-world assets “can become foundational components of the onchain economy.” The allocations reflect Ethena’s broader strategy of moving beyond crypto-native collateral to deeper, scalable asset pools for its synthetic dollar products.
The announcement coinciding with Securitize’s recent SEC clearance for a merger with Cantor Equity Partners II (NASDAQ: CEPT), which would allow the tokenization firm to trade on the NYSE. Securitize oversees over $4 billion in tokenized assets and services around 650 funds, counting BlackRock, Apollo, KKR, and Hamilton Lane among its partners.
