Glossary · Tokenization

What are tokenized stocks?

Tokenized stocks are tokens that follow a listed company's share price, usually backed one to one by real shares an issuer keeps with a custodian.

How do tokenized stocks work?

A tokenized stock wraps exposure to a share like Apple or Nvidia into a token. It sits in a wallet and keeps trading when the exchange is shut. The usual setup is backed: the issuer buys the actual shares, parks them with a regulated custodian and mints tokens against them. Some products let approved holders redeem. Most people just sell on the secondary market.

Tokenized stocks are not new. FTX listed some until it collapsed in 2022. The real start was June 30, 2025, when Backed's xStocks went live on Solana with Kraken and Bybit listing them on day one, and Robinhood switched on Stock Tokens for EU customers. A year later, on July 1, 2026, Robinhood added a new set on its own network, Robinhood Chain, for users in more than 120 countries. Neither product is offered in the US.

Holding the token is not the same as holding the share. You usually get no vote. Dividends are handled however the issuer decides, paid out as cash, as extra tokens or folded into the price. Your legal claim runs against the issuer and its custody setup, not against the company. And the price on a Saturday is simply what on-chain buyers will pay, with no open exchange behind it.

Say a stock closed Friday at $180 and its token trades at $183 on a Solana DEX on Saturday. That 1.7% premium is a bet on where the stock reopens. It can be wrong.

Also called: stock tokens, tokenized equities, onchain stocks.

Where do tokenized stocks show up in Cashboard?

The Tokenized stocks widget puts three prices side by side for eight tickers, Tesla and Nvidia included: the Yahoo Finance cash price, the xStocks token and the Hyperliquid stock perp where one is listed. It shows the token premium, the perp basis and funding as an APR, and marks a weekend gap on UTC Saturdays and Sundays. The Stocks & Cross-market template places it next to a stocks watchlist, Paper trading and prediction markets. Robinhood's own Stock Tokens get a separate widget, Robinhood stock tokens, which lists those on Robinhood Chain and prices the top eight against the share.

Frequently asked questions

Can US residents buy tokenized stocks?

Mostly no. xStocks are not offered to US persons, and Robinhood keeps the US out of its Stock Tokens too. Outside the US, access depends on the platform and your country.

Do tokenized stocks pay dividends?

It depends on the issuer. Some pay dividends out as cash or extra tokens, others fold them into the token's value. Voting rights are almost never included.

Related terms

Last reviewed October 25, 2026. Market data in Cashboard comes from the providers named on each widget and may be delayed. Nothing here is financial advice.