Siebert Joins Tokenized Securities Race, Selects Tzero as Infrastructure Partner

Muriel Siebert & Co., a Wall Street broker-dealer with roughly $19.5 billion in retail client assets, has selected Tzero’s end-to-end digital securities infrastructure to enter the tokenized securities market.

The partnership was announced on Monday and positions Tzero as the infrastructure backbone for Siebert’s push into blockchain-based capital markets.

The initial product supported by the deal is GLDY, a gold-backed, yield-bearing tokenized security developed by Streamex Corp., a technology company focused on bringing commodity markets on-chain. The offering is structured as a private placement under Rule 506(c) of Regulation D of the Securities Act of 1933, limiting access to accredited investors.

Siebert will act as placement agent, providing investors a familiar broker-dealer experience while the underlying infrastructure runs on Tzero’s blockchain-based platform.

Tzero’s platform covers the full lifecycle of a tokenized security, including:

Konevsky said:

John J. Gebbia, CEO of Siebert, pointed to the firm’s longstanding mission of expanding market access. “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,” Gebbia remarked.

The Siebert deal reflects a broader pattern among established financial firms seeking compliant on-ramps into digital capital markets. Tzero has positioned its platform specifically for institutions that want to avoid the cost and regulatory risk of building independent digital asset operations.

Siebert Financial Corporation, the publicly traded parent company listed on Nasdaq under the ticker SIEB, reported revenue of $94.2 million for full-year 2025, up 12% year over year. Its retail customer net worth reached $19.5 billion, a 9% increase from the prior year.

The firm operates approximately 10 branch offices across the U.S. and serves clients through desktop, web, and mobile platforms.

The agreement signals that broker-dealers with established client bases and regulatory standing are beginning to treat tokenized securities as a viable product category, not a speculative experiment. Tzero’s model, which bundles issuance, trading, and custody under one regulated roof, appears to be gaining traction as a practical entry point for that transition.