Dinari, which aims to provide access to real-world asset backed tokens, has announced a $7.5 million seed investment ahead of the ex-U.S. launch of its dShare Platform.
Investors included SPEILLLP, a member of the Susquehanna International Group of companies, 500 Global and Balaji Srinivasan, the former chief technology officer of Coinbase. Other backers in the round included Third Kind Venture Capital, Sancus Ventures and Version One VC.
The tokenization of real-world assets (RWA) is a concept that has gained momentum among both crypto natives and traditional finance players looking to utilize blockchain technology. Hamilton Lane, an investment-management firm with $824 billion in assets under management and supervision, has now provided access to two of its funds through Securitize on the Polygon blockchain.
Founded in 2021, Dinari wants to provide blockchain-backed access to corporate equity through its dShare platform. The dShare platform offers access to securities such as Apple or Tesla stock using a wallet on the Arbitrum network for users outside the United States due to regulatory reasons, said Jake Timothy, Dinari co-founder and chief technology officer, in an email to CoinDesk. Each dShare token is 1-1 backed similar to stablecoins like USDC or Tether.
“Our transparency page is accessible for anyone to view, and we also provide a live feed of our brokerage accounts so that our users can have every confidence in our 1-1 backing. Furthermore, we are working with regulators from all around the world to ensure that our offering complies with rigorous regulatory compliance requirements,” said Chas Rampenthal, Dinari co-founder and chief legal officer.