Securitize Brings Tokenized AAA CLO Fund to Solana

Securitize has expanded its Tokenized AAA CLO Fund (STAC) to the Solana blockchain, with Ethena Labs planning to allocate $250 million to the strategy in what would rank among the largest commitments to tokenized structured credit on the network to date.

STAC employs a fundamentals-driven investment strategy without the use of leverage, investing substantially all of its assets in U.S. dollar-denominated AAA-rated collateralized loan obligation tranches sourced from both primary and secondary markets. The fund is designed to provide investors with exposure to floating-rate structured credit while seeking attractive risk-adjusted returns.

The strategy was developed in collaboration with BNY, which serves as custodian of the fund’s underlying assets and acts as sub-adviser through BNY Investments.

“Expanding STAC to Solana brings one of the largest fixed-income markets in the world onto one of the most active blockchain ecosystems,” said Carlos Domingo, co-founder and CEO of Securitize. “Ethena’s planned allocation further demonstrates how tokenized real-world assets are becoming core infrastructure for the next generation of finance.”

Guy Young, founder of Ethena, said tokenized assets are likely to play an increasingly important role as decentralized finance evolves.

“As onchain finance evolves, we believe tokenized real-world assets will play an increasingly important role in supporting scalable, capital-efficient financial systems,” Young said.

Eligible investors can access STAC through Securitize’s regulated platform, where fund shares are issued as digital securities and supported by integrated know-your-customer, anti-money laundering and investor accreditation processes. The platform also provides transparent recordkeeping and onchain ownership through its transfer agent infrastructure.