Securitize Launches Tokenized CLO Fund on Solana
Securitize deployed a tokenized AAA CLO fund on Solana on June 12, 2026, with Ethena Labs committing $250 million to the product. The deal marks a major institutional allocation to tokenized fixed-income on a non-EVM chain.
Yuri Konnov
The CLO market provides a significant addressable pool for tokenization: global CLO issuance has exceeded $1.3 trillion according to the press release. Securitize, which manages more than $4 billion in assets under management across its tokenization platform, reported that assets tokenized on Solana through its platform increased approximately 75% over the 30 days preceding the announcement, with more than $611 million in tokenized real-world assets represented on the network at the time of the deal. The Ethena allocation, if completed, would materially increase that figure.
"Tokenization is most powerful when it combines quality assets with the speed, efficiency and accessibility of blockchain infrastructure," said Carlos Domingo, Co-Founder and CEO of Securitize, in the announcement. "Expanding STAC to Solana brings one of the largest fixed-income markets in the world onto one of the most active blockchain ecosystems." The quote appeared in the official press release and was also reported by Blockonomi's coverage of the STAC expansion.
The STAC deployment on Solana is notable for its chain selection. Solana is not an EVM-compatible network, and the majority of institutional tokenized asset activity to date has been concentrated on Ethereum and its compatible chains. By deploying on Solana, Securitize is extending institutional-grade fixed-income infrastructure to a network that has seen rapid growth in RWA activity but has historically hosted fewer regulated fund products. The Ethena integration also has structural implications: STAC tokens will function as productive collateral within USDe's reserve portfolio, adding a yield-bearing, credit-rated instrument to what has been a predominantly crypto-native collateral base.
The announcement arrives as Securitize approaches a significant corporate milestone. A special meeting of Cantor Equity Partners II shareholders to vote on the proposed business combination with Securitize is scheduled for June 29, 2026, per the SEC Form 425 filing. Securitize is planning a SPAC merger with Cantor Equity Partners II, which trades on Nasdaq under the ticker CEPT. The STAC-Solana launch and the Ethena commitment were disclosed in the same Form 425 filing submitted in connection with that transaction, according to the SEC filing published via StockTitan.
The tokenized CLO category has attracted other institutional entrants. Galaxy Digital closed an initial $75 million tokenized CLO on Avalanche in January 2026, a transaction reported by Ledger Insights' CLO tokenization coverage. The STAC product differs in that it targets the AAA tranche specifically, involves a regulated custodian in BNY, and is structured as an open fund rather than a single-deal vehicle. The Ethena commitment, at $250 million, is more than three times the size of the Galaxy closing.
What remains unclear. The press release and associated SEC filing do not disclose the timeline for Ethena Labs to complete its $250 million allocation, nor whether the commitment is legally binding or subject to conditions precedent. The announcement does not specify the fund's current net asset value or total AUM at the time of the Solana launch, the fee structure applicable to Solana-based investors relative to other share classes, or the specific onboarding requirements for Solana wallet holders seeking access. The mechanics by which STAC tokens will function within USDe's collateral framework — including any haircut applied, maximum concentration limits, or liquidation procedures — have not been publicly described. The press release also does not identify which regulated entity, if any, has approved STAC for distribution to non-U.S. investors on Solana.
The immediate effect of the June 12 announcement is that STAC is now deployed on Solana and Ethena Labs has publicly stated a planned $250 million allocation. The announcement does not confirm that the allocation has been funded, that STAC tokens have been issued to Ethena, or that USDe's collateral composition has already changed to include the fund.
