Muriel Siebert & Co., a Wall Street broker-dealer managing approximately $20 billion in assets, has partnered with tZERO Group to launch a tokenized securities platform, the companies announced Monday. The collaboration will allow Siebert to offer digital securities through tZERO's end-to-end regulated infrastructure, covering issuance, investor onboarding, custody, trading, and lifecycle management.
The first offering under the partnership will be GLDY, a gold-backed, yield-bearing tokenized security developed by Streamex Corp. The private placement, conducted under Rule 506(c) of Regulation D, will be available to accredited investors through Siebert acting as placement agent. This marks a significant step for traditional financial institutions entering the digital asset space without building proprietary technology.
“Traditional financial institutions increasingly recognize that tokenized securities require more than blockchain technology – they require turnkey regulated market infrastructure,” said Alan Konevsky, Chairman and CEO of tZERO, in a statement. “We built tZERO to provide that complete, independent foundation, enabling leading firms like Siebert to enter digital markets through a single, integrated platform.”
The move underscores a broader trend of established financial firms adopting tokenized securities infrastructure as they seek compliant pathways into digital capital markets. Rather than developing their own systems, firms like Siebert are leveraging existing regulated platforms to reduce risk and accelerate time to market.
“Tokenized securities represent an important evolution in how investors and issuers can connect, but the opportunity only works when innovation is matched with regulation, transparency, and trust,” said John J. Gebbia, CEO of Siebert. “Our relationship with tZERO gives us the infrastructure to enter this market with discipline, while building for where financial markets are headed.”
tZERO's platform provides a comprehensive suite of services including investor onboarding and compliance, identity verification and KYC, issuance support, broker-dealer services, custody of tokenized securities, secondary market infrastructure, clearing and settlement, and transfer agent services. By using tZERO's infrastructure, Siebert can offer digital securities capabilities without building proprietary systems from scratch.
The partnership highlights how tokenization is moving from experimental to mainstream adoption. For investors, it means access to new asset classes like tokenized commodities through familiar brokerage channels. For the industry, it demonstrates a viable model for regulated digital securities that could be replicated by other financial institutions.
tZERO, through its broker-dealer subsidiaries tZERO Digital Asset Securities, LLC and tZERO Securities, LLC, provides regulated trading and custody services. Both are members of FINRA and SIPC. The company's technology services are offered through tZERO Technologies, LLC.
The GLDY token offering is limited to accredited investors under Rule 506(c), and this press release does not constitute an offer to sell securities. The partnership positions Siebert to tap into the growing demand for tokenized assets while maintaining regulatory compliance.
