Real stocks, tokenized.

The mechanics behind dShares™

dShares™ are tokenized representations of traditional equities, backed 1:1 by the underlying securities.

Underlying shares of stocks and ETFs are held in custody by a registered US broker-dealer.

Dinari pioneered this custodial model, the same model the SEC now describes in its taxonomy of tokenized securities.

The lifecycle of a dShare™

1

Buy a dShare™

Place an order through a Dinari partner platform. Funds settle in stablecoin or fiat depending on the partner.

2

Dinari acquires the share on your behalf

Dinari Securities, LLC, an SEC-registered FINRA-member broker-dealer, acquires the underlying NMS security in a custodial brokerage account.

3

You receive the dShare™

A 1:1 representative token is minted to your verified wallet. Every token in circulation has a corresponding share locked in custody.

4

You hold it like a stock

Dividends, splits, and other corporate actions are mirrored to your token balance automatically.

5

You exit on your terms

Trade your dShare™ 24/5 on integrated marketplaces, or burn it for direct redemption. The underlying share is liquidated and proceeds return to you in stablecoins.

What you own

When you hold a dShare™, you hold the same economic rights you'd get holding the underlying stock through any traditional broker.

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Cash dividends

Issuer pays a dividend, you receive the equivalent value in stablecoins on the same schedule, paid directly to your wallet.

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Stock splits

A 10-for-1 split mirrors automatically on your dShare™ balance. No action required.

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Direct redemption

Exit any time at the underlying share's current market value. The custodian sells the share and proceeds are return to you.

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Verified backing

Every dShare™ in circulation is backed 1:1 by a real share held in custody, audited regularly by an independent third-party firm.

Same rights. New capabilities.

The underlying share is held in a custodial brokerage account in Dinari's name on the holder's behalf. This is the same structure most brokerage customers operate under today, where shares are held in "street name" by the broker. Economic rights remain with the holder.

Where the assets sit

Custody lives at Alpaca Securities LLC, a FINRA-member broker-dealer (CRD# 288202 / SEC# 8-69928). Every dShare™ in circulation has a corresponding share held in their custodial account.

See the latest reserve breakdown

Independent custody

Underlying assets sit with a third-party custodial broker, separate from Dinari's operating accounts.

Audited reserves

Reserve audits are performed by an independent Big 4 accounting firm to confirm 1:1 backing.

Audited contracts

Smart contracts that issue and govern dShares™ are audited by Hacken and other leading blockchain security firms.

Explore

MSTR
MicroStrategy Inc
MTB
M&T Bank Corp.
MTD
Mettler-Toledo International
MU
Micron Technology, Inc. Common Stock
NAKA
Kindly MD, Inc
NBIS
Nebius Group N.V. Class A Ordinary Shares
NCLH
Norwegian Cruise Line Holdings Ltd. Ordinary Shares
NCPL
Netcapital Inc
NDAQ
Nasdaq, Inc. Common Stock
NDSN
Nordson Corporation Common Stock
NEE
NextEra Energy, Inc.
NEM
Newmont Corporation
NFLX
Netflix, Inc. Common Stock
NI
NiSource Inc.
NIO
NIO Inc.
NKE
Nike, Inc.
NOC
Northrop Grumman Corp.
NOW
SERVICENOW, INC.
NRG
NRG Energy, Inc.
NSC
Norfolk Southern Corp.
NTAP
NetApp, Inc. Common Stock
NTRS
Northern Trust Corporation Common Stock
NUE
Nucor Corporation
NVDA
NVIDIA Corporation
NVO
Novo-Nordisk A/S
NVR
NVR, Inc.
NWS
News Corporation Class B Common Stock
NWSA
News Corporation Class A Common Stock
NXPI
NXP Semiconductors N.V. Common Stock
ODFL
Old Dominion Freight Line, Inc. Common Stock
OKE
Oneok, Inc.
OKLO
Oklo Inc.
OMC
Omnicom Group Inc.
ON
ON Semiconductor Corporation Common Stock
OPEN
Opendoor Technologies Inc
ORCL
Oracle
ORLY
O'Reilly Automotive, Inc. Common Stock
OTIS
Otis Worldwide Corporation
OXY
Occidental Petroleum Corporation
PANW
Palo Alto Networks, Inc. Common Stock
PAYX
Paychex, Inc. Common Stock
PCAR
PACCAR Inc. Common Stock
PCG
PG&E Corporation
PDD
Pinduoduo
PEG
Public Service Enterprise Group Incorporated
PEP
PepsiCo, Inc. Common Stock
PFE
Pfizer Inc.
PFG
Principal Financial Group Inc Common Stock
PG
Procter & Gamble Company
PGR
Progressive Corporation
PH
Parker-Hannifin Corp
PHM
Pultegroup, Inc.
PKG
Packaging Corp of America
PLTR
Palantir
PM
Philip Morris International Inc.
PNC
PNC Financial Services Group
PNR
Pentair plc
PNW
Pinnacle West Capital Corporation
PODD
Insulet Corporation Common Stock
PPG
PPG Industries, Inc.
AIPO
Tidal Trust II Defiance AI & Power Infrastructure ETF
AIS
VistaShares Artificial Intelligence Supercycle ETF
ARKB
Ark/21 Shares Bitcoin Trust
BITB
Bitwise Bitcoin ETP
BOTZ
Global X Robotics and Artificial Intelligence ETF
BRRR
Valkyrie Bitcoin Fund
BTCO
Invesco Galaxy Bitcoin ETF
BTCW
WisdomTree Bitcoin Trust
BWET
Breakwave Tanker Shipping ETF
CEF
Sprott Physical Gold and Silver Trust
CLOA
BlackRock ETF Trust II iShares AAA CLO Active ETF
COPX
Global X Copper Miners ETF (NEW)
DAPP
VanEck Digital Transformation ETF
DEFI
Hashdex Bitcoin Futures ETF
DIA
SPDR Dow Jones Industrial Average E
DRAM
Roundhill Memory ETF
EEM
iShares MSCI Emerging Markets ETF
ETHA
iShares Ethereum Trust ETF
ETHE
Grayscale Ethereum Trust (ETH)
EZBC
Franklin Bitcoin ETF
FBND
Fidelity Total Bond ETF
FBTC
Wise Origin Bitcoin Trust by Fidelity
GBTC
Grayscale Bitcoin Trust
GLD
SPDR Gold Trust, SPDR Gold Shares
HODL
VanEck Bitcoin Trust
HYMB
SPDR Nuveen Bloomberg High Yield Municipal Bond ETF
IAU
iShares Gold Trust
IBIT
iShares Bitcoin Trust
ITA
iShares U.S. Aerospace & Defense ETF
IWM
iShares Russell 2000 ETF
JAAA
Janus Henderson AAA CLO ETF
JBBB
Janus Henderson B-BBB CLO ETF
KDEF
PLUS Korea Defense Industry Index ETF
KWEB
KraneShares CSI China Internet ETF
MAGS
Roundhill Magnificent Seven ETF
PALL
abrdn Physical Palladium Shares ETF
PHO
Invesco Water Resources ETF
PPLT
abrdn Physical Platinum Shares ETF
PSI
Invesco Semiconductors ETF
QQQ
Invesco QQQ Trust, Series 1
REMX
VanEck Rare Earth and Strategic Metals ETF
SHLD
Global X Defense Tech ETF
SILJ
Amplify Junior Silver Miners ETF
SIVR
abrdn Physical Silver Shares ETF
SLV
iShares Silver Trust
SLX
VanEck Steel ETF
SMH
VanEck Semiconductor ETF
SOXX
iShares Semiconductor ETF
SPPP
Sprott Physical Platinum and Palladium
SPY
SPDR S&P 500 ETF Trust
SRLN
SPDR Blackstone Senior Loan ETF
TLT
iShares 20 Year Treasury Bond ETF
UFO
Procure Space ETF
URA
Global X Uranium ETF
URNJ
Sprott Funds Trust Sprott Junior Uranium Miners ETF
USFR
WisdomTree Floating Rate Treasury Fund
USHY
iShares Broad USD High Yield Corporate Bond ETF
USO
United States Oil Fund LP
VOO
Vanguard S&P 500 ETF
VWO
Vanguard FTSE Emerging Markets ETF
WEAT
Teucrium Wheat Fund
WGMI
Valkyrie Bitcoin Miners ETF
WOOD
iShares Global Timber & Forestry ETF
XOP
State Street SPDR S&P Oil & Gas Exposure
ARKK
ARK Innovation ETF
ARKX
ARK Space & Defense Innovation ETF
BITX
2x Bitcoin Strategy ETF
BOXX
Alpha Architect 1-3 Month Box ETF
DIVO
Amplify CWP Enhanced Dividend Income ETF
ETHU
2x Ether ETF
HLAL
Listed Funds Trust Wahed FTSE USA Shariah ETF
KWIN
KraneShares Wahed Alternative Income Index ETF
MNZL
EA Series Trust Manzil Russell Halal USA Broad Market ETF
MSTU
T-Rex 2X Long MSTR Daily Target ETF
MSTY
YieldMax MSTR Option Income Strategy ETF
MSTZ
T-Rex 2X Inverse MSTR Daily Target ETF
NVD
GraniteShares ETF Trust GraniteShares 2x Short NVDA Daily ETF
NVDL
GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF
SH
ProShares Short S&P500
SOXL
Direxion Daily Semiconductor Bull 3X Shares
SOXS
Direxion Daily Semiconductor Bear 3x Shares
SPRE
SP Funds S&P Global REIT Sharia ETF
SPSK
SP Funds Dow Jones Global Sukuk ETF
SPTE
SP Funds S&P Global Technology ETF
SPUS
SP Funds S&P 500 Sharia ETF
SPWO
SP Funds S&P World (ex-US) ETF
SPXU
ProShares UltraPro Short S&P 500
SQQQ
ProShares UltraPro Short QQQ
SVOL
Simplify Volatility Premium ETF
TMF
Direxion Daily 20+ Year Treasury Bull 3X ETF
TNA
Direxion Daily Small Cap Bull 3X Shares
TQQQ
ProShares UltraPro QQQ
TSLL
Direxion Shares ETF Trust Direxion Daily TSLA Bull 2X ETF
TSLQ
Investment Managers Series Trust II Tradr 2X Short TSLA Daily ETF
ULTY
YieldMax Ultra Option Income Strategy ETF
UMMA
Listed Funds Trust Wahed Dow Jones Islamic World ETF
USOY
Tidal Trust II Defiance Oil Enhanced Options Income ETF
VIG
Vanguard Dividend Appreciation ETF
VXX
iPath Series B S&P 500 VIX Short-Term Futures ETN
VYM
Vanguard High Dividend Yield Index ETF
YANG
Direxion Daily FTSE China Bear 3X Shares
YINN
Direxion Daily FTSE China Bull 3X Shares
YMAX
YieldMax Universe Fund of Option Income ETFs
ARCC
Ares Capital Corporation
BBDC
Barings BDC Inc
BCSF
Bain Capital Specialty Finance Inc
BXSL
Blackstone Secured Lending Fund
CGBD
Carlyle Secured Lending, Inc.
CSWC
Capital Southwest Corp.
FSK
FS KKR Capital Corp.
GBDC
Golub Capital BDC, Inc.
GSBD
Goldman Sachs BDC Inc
HTGC
Hercules Capital, Inc.
KBDC
Kayne Anderson BDC Inc
MAIN
Main Street Capital Corporation
MFIC
MidCap Financial Investment Corp
MSDL
Morgan Stanley Direct Lending Fund
NMFC
New Mountain Finance Corp.
OBDC
Blue Owl Capital Corp.
OCSL
Oaktree Specialty Lending Corp
PSEC
Prospect Capital Corporation
TRIN
Trinity Capital Inc.
TSLX
Sixth Street Specialty Lending
AMT
American Tower Corporation
ARE
Alexandria Real Estate Equities, Inc.
AVB
AvalonBay Communities, Inc.
BXP
BXP, Inc.
CCI
Crown Castle Inc.
CPT
Camden Property Trust
DLR
Digital Realty Trust, Inc.
DOC
Healthpeak Properties, Inc.
EQIX
Equinix, Inc. Common Stock REIT
EQR
Equity Residential
ESS
Essex Property Trust, Inc
EXR
Extra Space Storage, Inc.
FRT
Federal Realty Investment Trust
HST
Host Hotels & Resorts, Inc. Common Stock
IRM
Iron Mountain Inc.
KIM
Kimco Realty Corp.
MAA
Mid-America Apartment Communities, Inc.
NLY
Annaly Capital Management
O
Realty Income Corporation
PLD
Prologis Inc
PSA
Public Storage
REG
Regency Centers Corporation Common Stock
SBAC
SBA Communications Corporation Class A Common Stock
SPG
Simon Property Group, Inc.
UDR
UDR, Inc.
VICI
VICI Properties Inc. Common Stock
VTR
Ventas, Inc.
WELL
Welltower Inc.
WY
Weyerhaeuser Company

Built-in Compliance

Compliance for dShares™ is enforced at the token level. Every dShare™ carries embedded transfer logic, so non-compliant transfers fail by design. dShares™ allows users to access US equities while giving integrators total control over distribution.

KYC gating

Wallets must clear KYC/KYB verification before interacting with dSharesTM.

Geographic restrictions

Hard-coded jurisdictional logic blocks transfers to restricted regions.

Accreditation checks

Where legally required, accredited investor verification is enforced at the contract level.

AML monitoring

Continuous monitoring across the network flags and blocks suspicious activity.

Where dShares™ work

International

dShares™ align with localized regulatory frameworks in 85+ jurisdictions across:

  • Europe: distributed under MiFID II
  • Hong Kong: treated as a standard security
  • Latin America: distributed under digital payments licenses

Download our diligence packet

Two ways to use dShares™

Buy dShares™

dShares™ are available today across a growing network of partner platforms.

Find a partner near you

Offer dShares™

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