SoloTex is due to go live in the fourth quarter of this year and offer U.S. retail investors the ability to buy publicly listed U.S. equities with stablecoins.

On 15 October 2025 Solgenic, a blockchain‑based asset tokenization firm, and Texture Capital, an SEC-registered broker-dealer and FINRA member, said they had received regulatory approval to launch SoloTex.

The retail trading platform is due to go live in the fourth quarter of this year and will provide U.S. investors with direct, regulated access to publicly listed U.S. equities, which they can buy with stablecoins, ensuring real-time availability of funds.

Richard Johnson, chief executive of Texture Capital, told Markets Media: “I believe we are one of the first two brokers that will be going live with stablecoin funding out of about 4,000 brokers out there.”

Johnson said Texture Capital’s vision is to ultimately have fully onchain capital markets, but this needs fundamental market structure reform. Therefore, he believes SoloTex is the first step in this journey as the firm waits to see how equity tokens can be used in decentralized finance (DeFi) protocols in a regulatory compliant way.

“We’ve got all the pipes built, we’ve got the user base built, and then we’ll be ready to add on new features,” added Johson.

Token structure 

Texture Capital said that when a U.S. retail investor buys a stock on Solotex, they receive a token which is minted on-demand at the time of purchase. Therefore the buyer can hold any public stock, such Apple or Tesla, alongside their existing crypto holdings in their digital wallet. In addition, the platform allows them to 24/7 in line with on-chain financial activity.

Each stock token corresponds 1:1 with a share of the underlying stock held in the custody of the clearing broker, ensuring that investors receive full shareholder rights—including dividends and voting, according to Texture Capital.

SoloTex highlighted that its model fundamentally differs from offshore, synthetic, or derivative products currently available in the market.

“In contrast to SoloTex, these competitor products may (i) be unavailable to U.S. investors, (ii) lack typical shareholder rights, (iii) involve increased counterparty risk (i.e., contractual privity is with SPV rather than underlying equity issuer), (iv) offer a limited selection of U.S. equities, or (v) experience de-pegging from the underlying equity’s price (i.e., pricing may deviate from equities’ public market prices, since liquidity is limited to the SPV pool and its users),” added Texture Capital.

Ashley Ebersole, SoloTex legal advisor, said in a statement: “Offering actual tokenized U.S. equities to the U.S. market has always been the holy grail. SoloTex represents the leading edge of innovation within established regulatory architecture, and we will continue to innovate towards fully tokenized capital markets as regulations permit.”

Johnson added the stock remains in custody with the DTCC as execution is in traditional markets with traditional brokers, so there is no price discrepancy between the token and the equity, and no counterparty risk, as when buying a tokenized stock which is a wrapper or derivative product from a crypto issuer.

Mike McCluskey, chief executive of Sologenic, said in a statement: “We believe this is a first for the U.S. market and it sets the stage for a new era of asset ownership through tokenization.”

McCluskey told Markets Media that Sologenic formed a joint venture with Texture Capital about a year ago as the firm aims to bring traditional finance assets to its crypto user base of between 300,000 and 400,000 to diversify their investments.

“We have our own Layer 1 blockchain specifically designed for tokenization and stocks were the traditional asset class that we wanted to tokenize,” McCluskey added.

Sologenic surveyed its digital asset ecosystem and users were “overwhelmingly” in favor of being able to hold traditional assets in their wallet, and being able to fund these assets with their crypto holdings. He said: “I think our partnership with Texture Capture will grow and we are targeting other asset classes beyond stocks.”

In addition, SoloTex is aiming to partner with other crypto exchanges, who also want to offer traditional assets to their user base.

Security Token Group said in its What’s Drippin’ newsletter that tokenized stocks have been a big theme this year along with some scrutiny around different structures.

For example, in September this year Galaxy Digital, the digital asset firm and data center infrastructure provider, partnered with Superstate to tokenize its Nasdaq-listed shares on the Solana blockchain. Superstate’s Opening Bell platform ensures the shares remain fully compliant and legally equivalent to traditional equity while maintaining Galaxy’s official shareholder records in real time. By tokenizing on Solana, Galaxy’s equity gains 24/7 market potential and near-instant settlement.

Robert Leshner, chief executive of Superstate, said in a statement: “This is the first instance of a Nasdaq-listed company being tokenized on a major public blockchain. Financial markets are undergoing a massive upgrade with Superstate.”

Just $686M of tokenized stocks exist onchain.

The global stock market is $100 TRILLION.

That’s 0.0007% penetration.

When this hits just 1%, that’s $1 TRILLION onchain. pic.twitter.com/GdzMkOdcW9

— James | Ethereum Foundation ⟠ | Snapcrackle.eth (@james_gaps) October 25, 2025

The What’s Drippin’ newsletter explained that Solotex ensures that each token represents an actual share with voting rights, dividends, and all, the token is minted only after the platform’s clearing broker has the share in custody.

“Set to launch later this year, this could be the start for American investors to also reap the onchain benefits for stocks,” said the newsletter. “Sologenic also has a decentralized exchange (DEX), positioning itself well to then add additional utility to these tokens. Who will ultimately get to market first? We’ll have to wait and see.”

Herwig Konings, chief executive of Security Token Group, said in the newsletter: “Tokenized equities are ‘fully out-of-the genie’s bottle’ and will get the same attention from regulators, media, and Wall Street incumbents next year as stablecoins did this year.”

In traditional finance, Nasdaq filed with the U.S. Securities and Exchange Commission in the third quarter of this year for approval to use its existing trading infrastructure for equities and exchange-traded funds in both traditional and tokenized form.

Adena Friedman, chair and chief executive of Nasdaq, said on the third quarter results call on 21 October 2025 that the firm’s proposal is for the underlying security itself to be tokenized, preserving investors’ rights and benefits of share ownership. She explained that an investor will be able to flag on an order-by-order basis if they want shares they are buying to be settled in a tokenized form into a digital wallet. The flag would then flow through Nasdaq’s systems into post-trade.

“We are working collaboratively with the DTCC to understand exactly how they would have two different settlement paths,” she said.

DTCC, the U.S central post-trade infrastructure, is  looking to launch on a number of different blockchains, according Friedman. The digital wallet would be available to investors through their brokerage firm or investment manager to give them access to the securities in a way that might be more fungible in their overall investment portfolio, which may include other digital assets.

“We are tokenizing the underlying equity, not a derivative of the equity,” said Friedman. “We are not changing the overall settlement cycles as we walk into this.”

She highlighted that the benefits of tokenization include increasing the mobility of collateral, eventually reducing the settlement cycle and creating capital efficiencies if there is a more seamless global payment infrastructure.

Johnson described Nasdaq’s proposal as “great step forward,” which would not have been possible just a year ago.

“People like Nasdaq are going to need forward thinking broker-dealers like us who can adopt the technology in order to bring it to market,” he added.