Securitize has expanded its tokenized AAA collateralized loan obligation (CLO) fund, STAC, to the Solana blockchain, while Ethena Labs plans a $250 million allocation to the vehicle. The commitment ranks among the largest tokenized structured credit allocations on Solana to date, underscoring growing demand for real-world assets (RWAs) on-chain.
Securitize Extends STAC to Solana
The move brings STAC—Securitize’s tokenized fund offering exposure to AAA-rated CLO tranches—onto Solana’s high-throughput network. By tokenizing interests in top-rated slices of CLOs, the product aims to combine traditional credit exposure with the operational efficiencies of public blockchains, including faster settlement and programmability.
Ethena Labs Plans $250 Million Allocation
Ethena Labs intends to allocate $250 million to STAC on Solana, marking a significant infusion of capital into the chain’s RWA ecosystem. The planned allocation represents one of the largest commitments to tokenized structured credit on Solana, potentially enhancing liquidity and institutional participation across the network’s on-chain credit markets.
Why It Matters: RWAs and Tokenized Structured Credit
Tokenizing structured credit, such as AAA-rated CLO tranches backed by diversified pools of corporate loans, can broaden access to traditional yield products while maintaining embedded credit protections. Bringing these exposures on-chain may offer benefits including 24/7 market access, fractional ownership, and streamlined lifecycle management—features that are contributing to the rapid growth of RWAs across leading blockchain ecosystems. Solana’s expansion in this segment reflects rising interest from both crypto-native and traditional investors seeking institutional-grade instruments on public ledgers.
About Securitize and Ethena Labs
Securitize is a digital asset securities platform focused on issuing and managing tokenized real-world assets for compliant investors. Ethena Labs is a crypto-native organization known for building on-chain financial products and yield strategies. Their planned collaboration around STAC on Solana highlights ongoing convergence between traditional credit markets and blockchain-based financial infrastructure.