Eddid Securities USA has connected with tZERO’s regulated subsidiaries to introduce customer accounts for trading, clearing and custody of eligible digital asset securities. The correspondent clearing arrangement has been approved by FINRA under Rule 4311.
The engagement divides the operating chain among three broker-dealer roles. Eddid USA introduces the customer and maintains the client relationship. tZERO Securities operates the alternative trading system and carries and clears introduced accounts. tZERO Digital Asset Securities provides custody for eligible digital asset securities.
That structure gives Eddid USA a route into tokenized securities without building its own venue, clearing operation and digital custody system. It does not make every digital asset available, and each security remains subject to eligibility, suitability and regulatory requirements.
FINRA Rule 4311 Covers the Clearing Relationship
Eddid USA is a FINRA-registered introducing broker-dealer. Under the fully disclosed arrangement, customer accounts are introduced to tZERO Securities, which carries the accounts and performs the agreed clearing functions.
Approval of the Rule 4311 agreement is important but should not be described as approval of each tokenized security. The rule governs the allocation of functions between an introducing firm and a carrying firm. Securities offered or traded through the relationship still require their own lawful issuance and venue eligibility.
Eddid USA has also subscribed to the tZERO Securities ATS. That allows it to facilitate customer transactions in securities admitted to the venue, including eligible digital asset securities.
Clients Do Not Need to Manage Private Keys
Custody is provided through accounts at tZERO Digital Asset Securities, an SEC-registered broker-dealer operating under the Commission’s framework for broker-dealer custody of digital asset securities. Clients can therefore hold eligible instruments through the brokerage arrangement rather than controlling a self-hosted wallet.
The release calls the arrangement a complete regulated foundation but does not identify the initial securities, fees, settlement timetable or launch volume. It also does not support upgrading the custody description to “qualified custodian,” a separate legal term that should only be used when the applicable status is established.
Jerry Tse, Chief Executive Officer at Eddid Financial, said the relationship gives the firm trading, clearing and custody infrastructure while allowing clients to use an existing brokerage relationship.
Tokenized Securities Still Depend on Their Legal Rights
A regulated venue and custody arrangement answers where a security trades and who holds it. It does not by itself determine the economic and governance rights attached to the instrument.
FinanceFeeds found that tokenized shares can provide different claims on the underlying equity. Some structures preserve direct securities rights, while others create exposure through a token backed by shares held elsewhere.
The same distinction applies to products introduced through Eddid USA. Offering documents need to identify the issuer, ownership claim, transfer restrictions, corporate actions, redemption rights and treatment if an intermediary fails.
The issue is also central to the divide between tokenized trading and settlement. A digital security can trade on an ATS while cash movement, books and records, custody and legal finality remain distributed among several regulated entities.
Broker-Dealers Are Buying Infrastructure Instead of Building It
Alan Konevsky, Chief Executive Officer at tZERO, described the arrangement as an example of the group’s infrastructure-as-a-service model. The model lets financial institutions retain their brands and client relationships while relying on tZERO for regulated operating functions.
That approach is appearing across tokenized markets. Tradeweb used third-party infrastructure for a synchronized onchain Treasury transaction, while the NYSE is developing a venue linking onchain execution with settlement.
Payment infrastructure is evolving alongside securities systems. U.S. Bank recently completed a live stablecoin payment pilot, showing how regulated institutions are testing blockchain rails without abandoning existing controls.
For Eddid USA, the immediate test is distribution. The firm has gained access to tZERO’s regulated stack, but adoption will depend on the securities admitted to the ATS, the investors eligible to buy them and whether liquidity develops after issuance.
