The Securitize Tokenized AAA CLO Fund, or STAC, leverages the speed and low transaction costs of the Solana network to host collateralized loan obligations. Developed in partnership with BNY, which acts as both custodian and sub-adviser, the fund focuses on AAA-rated, U.S. dollar-denominated tranches. By moving these assets onchain, Securitize aims to strip away the operational frictions that typically hinder institutional credit markets, while maintaining the rigor of traditional asset management.

For Ethena Labs, the move serves as a strategic integration of stable, yield-bearing assets into its internet-native financial infrastructure. The fund operates without leverage, relying on a fundamentals-driven approach to deliver risk-adjusted returns. According to Securitize CEO Carlos Domingo, the expansion highlights how tokenization is evolving from a niche experiment into foundational infrastructure for global finance. The move arrives as Securitize prepares for a proposed business combination with Cantor Equity Partners II, expected to conclude later this month.