How BlockStreet Builds Infrastructure for Trading Tokenized Stocks

Summary

• BlockStreet is building an execution and lending layer for tokenized stocks, starting on the Monad blockchain and later expanding to other major EVM chains.
• Its Aqua engine aggregates RFQ quotes from multiple issuers to deliver best execution for tokenized equities while keeping custody with users and enforcing security on-chain.
• Another BlockStreet’s module, Everst, is a dedicated lending protocol for tokenized stocks that lets users earn yield, borrow, and access leverage against equity tokens via overcollateralized, oracle-driven pools.
• BlockStreet has raised $11.5 million from venture capital firms including Hack VC and DWF Labs at the end of October 2025.

Introduction

BlockStreet is a project that sits in the middle of the major trend of tokenizing real-world assets, focusing on a certain asset class: tokenized equities. It positions itself as the bridge between Wall Street and Web3, and builds the infrastructure that lets people trade, borrow against, and launch products around tokenized stocks. After participating in BlockStreet’s funding round, DWF Labs wrote this brief yet deep dive into BlockStreet, its platform, blockchain stack, team and funding data.

What BlockStreet Is Trying to Solve

BlockStreet started as a niche lending protocol for tokenized assets and then widened its scope once it became clear how fragmented the tokenized-stock landscape was. There are two core problems that the project addresses:

• tokenized stocks are issued in many places with inconsistent pricing and liquidity;
• existing DeFi money markets were never designed around equity-style assets and their risk profile.

Issuers, chains, liquidity pools — all these elements of the puzzle are siloed, having little in common. BlockStreet aims to be the infrastructure layer for tokenized finance, so that on-chain stocks trading occurs on a coherent market rather than a set of scattered services.

BlockStreet’s answer is a two-part stack: Aqua, a routing layer for tokenized assets, and Everst, a lending protocol built specifically for tokenized stocks.

Aqua: Liquidity and Execution for Tokenized Assets

Aqua is BlockStreet’s tokenized asset liquidity aggregator. Instead of being another venue, it connects to multiple issuers and market makers and tries to give users the best available price at any moment.

Under the hood, Aqua runs a request-for-quote (RFQ) model. When a user wants to trade a tokenized stock, Aqua requests signed quotes from integrated issuers, compares them off-chain, and then routes the trade to the best one. Settlement and verification happen on-chain via smart contracts and a registry of supported tokens and executors.

Design-wise, it’s a hybrid system. Off-chain components handle quote aggregation and routing logic for speed, while on-chain contracts verify signatures, manage issuer registries, and execute trades. This allows Aqua to keep latency low enough for active trading, while enforcing transparent, on-chain settlement and auditable execution paths.

The backend can aggregate and propose quotes, but it can’t move user funds or alter prices once they’ve been signed, because every quote is encoded as an EIP-712 signature that the smart contracts verify before any trade executes.

Asset custody always stays with the user, while token and executor registries are protected by role-based access control, multi-sig, timelocks and emergency pause switches to prevent bad listings or upgrades from slipping through. Signing keys are kept in hardened setups (HSMs, secure enclaves, rotation and revocation procedures), and executor contracts are isolated so a failure in one integration doesn’t compromise the rest of the system.

On top of that, short-lived quotes, MEV-aware execution patterns and circuit breakers for unusual activity are designed to limit economic attacks as tokenized stock volumes scale.

In other words, Aqua is the piece that tries to make on-chain stocks feel less like walled gardens and more like a unified, broker-like experience but without the middleman.

Everst: Lending Market for Tokenized Stocks

Everst is the second half of the stack: a decentralized lending and borrowing protocol designed around tokenized equities rather than just crypto. BlockStreet calls it “a decentralized stock bank”.

Users can supply stocks like Apple (AAPL), Tesla (TSLA), NVIDIA (NVDA), or Microsoft (MSFT) to earn yield, and borrow against those same tokenized stocks without having to sell them. Under the hood it uses a pooled lending model: suppliers deposit into shared liquidity pools and receive interest-bearing “bTokens” (such as bAAPL) that automatically track both interest and changes in the underlying stock price, while borrowers draw from those pools and pay a variable rate that adjusts with market demand.

The protocol borrows the risk tooling you’d expect from a mature money market:

• dynamic supply and borrow APYs based on utilization and reserve factors;
• asset-specific collateral factors (more conservative for volatile or small-cap stocks),
• health-factor system that tracks how close a position is to liquidation in real time. 

All loans on Everst are overcollateralized, with different collateral factors for stablecoins, blue-chip stocks and higher-volatility growth names. A real-time “health factor” summarizes how safe each position is: if markets move against a borrower and their health factor drops too low, the protocol can step in and liquidate part of the position to protect the pool. 

Pricing is anchored by redundant oracles from Chainlink and Pyth, with conservative rules that default to the safer price whenever feeds diverge, and circuit breakers that can pause markets in extreme conditions. 

Liquidations themselves are handled through a hybrid engine that can route smaller unwindings through on-chain liquidity and larger ones via professional market makers, aiming to keep slippage and systemic risk under control while still operating 24/7 on-chain.

Built on Monad

BlockStreet launched on Monad, a high-performance EVM blockchain launched at the end of November 2025, which aims to deliver parallel EVM execution with low latency, which matters for recreating the same user experience as on high-speed equity markets.

Once Aqua and Everst are live and battle-tested on Monad, the plan is to expand to major EVM networks including Ethereum, BNB Chain and Base, turning BlockStreet into a cross-chain platform for tokenized stocks.

That expansion is already being prepared through integrations. Ondo Finance, for example, has partnered with BlockStreet to use it for bringing liquidity to its tokenized US stock and ETF products launched in September 2025, so that holders of Ondo’s equity tokens can get better execution and more sophisticated borrowing/hedging tools. 

StableStock, another equity-tokenization platform, has integrated its “sTokens” assets into Block Street’s dual-sided markets in November 2025, to bring secure and scalable institutional-level trading experience on-chain for tokenized stocks borrowing, shorting, and derivatives utility across the StableVault DeFi stack.

Team and Funding

Founded in 2024, BlockStreet has Mike Wu and Hedy Wang as co-founders, with the company based in the San Francisco Bay Area.

The CEO, Wang previously led quantitative strategies at top Wall Street hedge funds, including Apollo and Point72’s Cubist Systematic Strategies, working on trading platforms. Before that, she worked as a risk lead at Capital One, overseeing the development of large-scale financial risk models.

Serving as BlockStreet’s CTO, Wu is a veteran systems engineer who led projects at Google and Cruise, bringing experience in large-scale distributed systems and low-latency architecture. He holds both a B.S. and M.S. in Computer Science from Carnegie Mellon University (CMU), one of the top CS programs globally.

In October 2025, BlockStreet announced an $11.5 million funding round with participation from DWF Labs and other companies. The investment is earmarked for finishing the Monad deployment of Aqua and Everst, building out transparency dashboards, and expanding integrations with tokenization issuers and DeFi front-ends.

Token and Testing

Right now, BlockStreet is live in a sandbox mode that lets users try the platform with fake funds before the mainnet launch.

After connecting a Web3 wallet, you can top up your balance of BlockStreet’s BSD tokens by completing simple activities such as a daily login, inviting friends, and sharing activities in social media. BSD tokens can be further swapped into one of the supported tokenized stocks: AAPL, TSLA, MSFT, NVDA, COIN or MSTR.

You can then either supply stocks for a certain interest, or borrow them by taking out BSD or stock loans at a displayed APY, watching how your Health Factor changes as you adjust positions, and seeing how the interface tracks utilization, available liquidity and rates in real time. 

All of this is purely for practice: BSD is not a real token, carries no monetary value, and there are no live rewards in the sandbox phase: BlockStreet has not announced a TGE or production token launch yet. The point of the current environment is to let users and partners get comfortable with the trading, lending and risk mechanics of Aqua and Everst in a safe, simulated setting before real assets go live.

Why BlockStreet Matters

The tokenized-RWA narrative is already crowded, but most of the attention has gone to Treasuries and cash-like products. BlockStreet focuses on making tokenized stocks truly usable, understanding it will require more than just minting them on a chain. It will need the same traits that make traditional equity markets work: tight spreads, predictable execution, robust lending and transparent risk management.

By specializing in tokenized stock execution and lending, running on a high-performance chain that is Monad with the plans to become multi-chain, and partnering with other RWA vehicles, BlockStreet is trying to fulfill its role as the liquidity layer where tokenized equities actually trade and clear.

If that thesis plays out, the project’s real impact will make the tokenized equity market boring, reliable and deep enough that both retail users and institutions will accept them as a serious part of their portfolio.