Digital Capital Markets
Regulated digital securities and private-market structures can develop using existing legal ownership frameworks.
United States
The United States presents a fundamentally different Digital Property Infrastructure challenge. Its capital markets are among the world’s deepest and most sophisticated. Its property-recording infrastructure is highly decentralized across thousands of local jurisdictions. At the same time, digital-securities infrastructure is evolving.
Why the United States Matters
The United States is not simply another geography in the MeridianSquare research.
It is one of the clearest demonstrations of why Digital Property Infrastructure must be interoperable rather than centralized.
Digital-securities infrastructure can evolve at the federal and market level while property records, title practices, closing systems and local recording remain distributed across thousands of jurisdictions.
Regulatory Signal
Source: U.S. SEC Staff Statement on Tokenized Securities, January 28, 2026.
In January 2026, SEC staff published a statement describing multiple models for tokenized securities. The statement distinguishes between issuer-sponsored tokenization, where distributed-ledger technology can form part of the systems maintaining the authoritative securityholder record, and various third-party tokenization structures.
That distinction reinforces an important principle:
A digital token does not acquire legal meaning merely because it exists on a blockchain. The authoritative ownership system still matters.
The Coordination Problem
For property-linked digital assets, institutional infrastructure ultimately needs to coordinate:
Deeds, mortgages, liens and releases.
Legal ownership, defects, lien priority and insurability.
Closing, escrow and settlement.
Digital holders, balances, transfers and distributions.
Identity, eligibility, custody and regulatory restrictions.
These records do not need to become one database. They need to remain synchronized. That coordination problem is much larger than token minting — it is Digital Property Infrastructure™.
Our Opportunity
The United States represents two complementary opportunities.
Regulated digital securities and private-market structures can develop using existing legal ownership frameworks.
Over time, greater interoperability between digital capital markets, title infrastructure and decentralized property-record systems could create a deeper infrastructure layer.
MeridianSquare is building with both in mind.
Architecture
Digital ownership can develop within existing securities structures and authoritative securityholder records.
Entity, trust, fund or other legal structures can connect property economics with digital ownership.
County recording, title, closing and property-data systems can become more digital without being replaced by a single blockchain.
MeridianSquare is not assuming that one model will replace all others.
CubeSquare is being designed to coordinate the systems appropriate to each permitted structure.