Are Tokenized Stocks Real? | Gabriel Otte of Dinari

Bankless

[email protected]

Tech News, News, Technology

4.8 • 1.1K Ratings

🗓️ 14 July 2025

⏱️ 86 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tokenized stocks have long been a crypto dream, but are they real yet? Gabriel Otte, founder of Dinari, joins to break down the current landscape. We cover what tokenized stocks actually are, why regulatory hurdles make them complex, how Dinari secured the first broker-dealer license for tokenized public shares, and what this means for on-chain finance. We also explore the limitations of current tokenized stock offerings, Robinhood’s moves, and whether true DeFi composability is possible for equities. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 4:08 Tokenized Stocks 101 5:47 Why is it Taking so Long? 8:48 Traditional Stocks Infra 24:07 Broker Dealer Licenses 27:55 Dinari Tokenized Stocks 30:48 What is an ATS? 32:51 What about Exchanges 35:13 Tokenization Benefits 47:16 Pitching to Wall Street 51:49 The State of Tokenized Stocks 1:03:48 Hype or Real? 1:07:15 Stablecoin Analog 1:10:25 Tokenizing Private Companies 1:17:07 New SEC 1:21:04 What’s Next? 1:23:03 Cancer Research to Crypto 1:28:43 Closing & Disclaimers ------ RESOURCES Gabriel Otte https://x.com/GabeOtte Dinari https://dinari.com/defi Dinari granted first broker-dealer registration to offer tokenized stocks https://www.reuters.com/sustainability/boards-policy-regulation/dinari-granted-first-broker-dealer-registration-offer-tokenized-stocks-2025-06-26/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Transcript

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0:00.0	I think the full promise of tokenized stocks, like what we talked about just now, in terms of everything becoming on-chain, and there's settlement across all these different asset classes and things like that, that's exciting.
0:10.9	Okay.
0:11.5	I believe that is the future.
0:13.0	I don't think that future is this year.
0:15.2	I think that future is years away.
0:20.7	Welcome to Bankless, where today we explore the frontier of tokenized stocks.
0:25.7	This is Ryan Sean Adams.
0:27.0	Just me today.
0:28.1	David is out somewhere climbing mountains, so I am here to help you become more bankless.
0:33.9	The question today, how close are we to the tokenized stock revolution?
0:38.3	Like, when are we going to be able to have Tesla and Nvidia and Apple shares all on chain?
0:44.0	It seems like we're partially here, at least over the past month it has.
0:48.7	There have been platform announcements from Robin Hood and companies like X stocks.
0:53.0	They're listing these on-chain stocks, some of which
0:55.7	are available in the European Union. Are these stocks as good as stocks inside of a U.S.
1:01.7	brokerage account? Or are they just some kind of derivative? And when are the real tokenized
1:06.9	stocks coming to the U.S.? I just had a ton of questions going into this episode, and all of
1:12.1	them, and I do mean all of them, were answered by my guest, Gabriel Ott. So a few weeks ago,
1:18.7	Gabriel's company, Denari, received the first ever broker-dealer license to issue tokenized stocks
1:25.1	in the U.S. That seemed like a big deal, but it was a press release. I didn't
1:29.0	know exactly what it meant. And we discussed that in today's episode. But in order to get there,
1:33.8	and this was, in my opinion, the best part, we had to start at the very bottom. When you own a stock,
	...

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