Dinari, an American supplier of token public titles, is expected to launch his own blockchain, joining the last wave of businesses to build their own infrastructure.
The chain, called Dinari Financial Network, aims to serve as a coordination and settlement layer for securities issued on other networks such as Arbitrum
Base, panache (FEATHER) And, soon, Solana. The network is tailor -made using avalanche (Avax) Technological battery.
“It will be the fundamental infrastructure of our system of settlement and compensation, which has so far been mainly taken place,” said at Coindesk Gabe Otte, CEO and co-founder of Dinari, in an interview.
The net test is currently live with plans for a public launch in the next two weeks, added Otte.
Dinari is one of the companies that head to the tokenization of actions, a red heated trend to make exchanges with actions available on blockchain rails. Supporters say that tokenization could allow exchanges 24 hours a day, faster regulations while reducing costs.
Recently, the Robinhood digital trading platform introduced actions tokens on Ethereum Affairs-2 Arbitrum
For EU users with future plans to build its own chain, while Crypto exchanges, especially Kraken, Bybit also started to offer American stock and FNB tokens.
In June, Dinari obtained a broker registration by Finra with an approval for Tokensize from the national market system (NMS) Securities, offering a compliant solution to issue a token version of American public actions. Gemini, the exchange founded by Cameron and Tyler Winklevoss, launched original tokens in the EU with Dinari providing the tokenization infrastructure in the backend.
Why another L1?
Dinari’s decision to build its own chain follows a recent scheme observed through financial technologies and cryptographic companies. The Stripe Stripe Stripe of the Stablecoin USDC Issueer Circle and Payments revealed this week to continue owners’ blockchains. Rival tokenization companies such as Ondo finance and security (associated with Ethena) Also work on their own networks.
With this approach, they aim to take more control over compliance with regulations, availability and integration with traditional financing systems compared to deployment on existing public blockchains.
For Dinari, having their own chain was “out of necessity,” said Otte.
“A large part of the public channels does not really allow the appropriate level of conformity necessary to cope with the titles,” he explained. Another key reason was to facilitate and coordinate tokens transactions from Dinari on several blockchains without fragmenting liquidity.
“If a part of [the stock tokens] Lives on Solana, partly on Arbitrum, partly on the basis, you take this market of $ 100 billions and fragment it, “he said.” How do you prevent this? With a specially designed chain which allows us to mainly draw liquidity through all these different channels. “”
By unifying the settlement and liquidity, the company aims to provide a continuous and in accordance of American actions to a global market, drawing a similar role in the depositary and compensation (DTCC) for the stock market. DTCC is the largest compensation and securities settlement system in the world.
For having chosen avalanche on which to rely, Otte underlined the need for flexibility and the ability to control transaction costs (gas price)Which is difficult with Rollup and Layer-2 solutions. Avalanche’s blockchain service, AVA Cloud allows companies to turn and personalize blockchains for their own needs, said Morgan Krupetky, vice-president of ecosystem growth at Ava Labs.
Neutral cleaninghouse
Dinari wants to position the Dinari financial network to be a “neutral compensation house” for the industry, said Otte.
At the beginning, governance will come from a consortium of institutions such as Gemini, the Bitgo goalkeeper and the director of assets Vaneck, who will serve as validators and will also offer childcare services.
The plan is to fully decentralize the chain in the future, said Otte. This potentially understands the launch of the chain governance token, he added.
Read more: Tokenized actions need an ADR structure to protect investors
