Key Highlights
- Securitize has expanded its Tokenized AAA CLO Fund (STAC) to the Solana blockchain.
- STAC provides exposure to AAA-rated collateralized loan obligations (CLOs), a segment of the $1.3 trillion global CLO market.
- The fund was developed in partnership with BNY Mellon to bring institutional-grade credit products on-chain.
Securitize, a financial company specialized in tokenized real-world assets (RWAs), announced today the expansion of its Securitize Tokenized AAA CLO Fund (STAC) to the Solana blockchain.
According to the official announcement, the move is backed by a significant $250 million commitment from Ethena, marking one of the largest single allocations to tokenized structured credit products on the Solana network to date.
STAC gives exposure to AAA-rated collateralized loan obligations, or CLOs. These are structured credit products backed by pools of corporate loans. The AAA-rated tranches sit at the senior end of the structure and are designed to carry lower credit risk than junior tranches.
The fund was developed in collaboration with BNY Mellon, one of the world’s largest custodians and asset managers. According to Securitize, bringing STAC to Solana will make high-grade credit products available on one of the fastest and most widely adopted blockchains, potentially lowering barriers for a broader range of investors.
“By bringing STAC to Solana, we’re making institutional-grade credit available on one of the fastest and most widely used blockchains in the world,” the company stated.
Carlos Domingo, the Founder and CEO of Securitze, noted, “Thanks to our partners Solana and Ethena for support in expanding our tokenized AAA CLO Fund in partnership with BNYglobal to Solana!!”
Convergence of TradFi and decentralized blockchain
The development underscores the accelerating convergence of traditional finance and decentralized blockchain infrastructure. STAC offers investors exposure to AAA-rated collateralized loan obligations (CLOs).
Collateralized loan obligations bundle corporate loans, typically leveraged loans to companies, and tranche them into different risk levels. The AAA-rated senior tranches, which STAC targets, benefit from significant credit enhancement and historically low default rates.
The global CLO market exceeds $1.3 trillion in outstanding issuance, representing a massive opportunity for tokenization to unlock liquidity, reduce settlement times, and improve transparency in what has traditionally been an over-the-counter, institutional-dominated space.
Why Securitize selected Solana for STAC launch
Solana’s selection as the expansion chain is strategic. The network has distinguished itself with high throughput, low transaction costs, and a robust ecosystem of DeFi applications and institutional pilots. Several financial institutions have explored or launched pilots on Solana in recent months.
Nick Ducoff, head of institutional growth at Solana, noted, “Solana is the premier destination for institutional capital moving on-chain. The launch of STAC on Solana highlights the growing convergence between traditional financial assets and blockchain-based markets.
He further added, “We’re excited to support the next generation of tokenized financial products being built on Solana.”
Ethena’s $250 million allocation is particularly noteworthy. Ethena, known for its innovative stablecoin and yield-generating products in the decentralized finance (DeFi) space, is directing substantial capital into this tokenized credit vehicle.
Regulatory clarity increases in key jurisdictions
This announcement arrives amid heightened regulatory clarity in key jurisdictions and growing appetite from both traditional asset managers and crypto investors for yield-bearing RWAs. With interest rates remaining elevated by historical standards, AAA CLO exposure offers a risk-return profile for diversified portfolios.
The development positions both Securitize and Solana favorably in the competitive RWA landscape, where multiple chains and platforms vie for institutional adoption. If successful, the initiative could pave the way for additional structured credit products to migrate onchain, tapping into the multi-trillion-dollar fixed-income universe.
What Comes Next?
The next key question is how quickly Ethena’s planned allocation moves into STAC and whether the product gains wider use across DeFi.
If STAC attracts more capital, it could strengthen the case for tokenized structured credit as a major RWA category. It could also encourage more fund managers to bring credit products onchain through networks such as Solana.
However, the product still sits inside a regulated investment structure and is not the same as a freely accessible retail token. Investors will need to consider eligibility, credit risk, liquidity, fees, and the structure of the underlying CLO exposure.
For now, the launch marks another step in the convergence between traditional credit markets and DeFi. With Ethena planning a $250 million allocation, STAC’s Solana expansion is not just another chain deployment. It is a sign that tokenized credit is becoming a serious part of crypto’s next RWA cycle.
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