Tokenized stocks or tokenized equities are blockchain-based tokens that track the price of real company shares or ETFs, but trade like crypto. As of December 2025, around $660 million of public equities are live on-chain as tokenized stocks, moving over $1.22 billion in monthly transfer volume, held by nearly 119,000 wallets and used by more than 53,000 monthly active addresses. You get 24/7, fractional equity exposure inside the crypto stack, but usually without full shareholder rights, and under a regulatory regime that’s still taking shape.
Total value of tokenized stocks | Source: RWA.xyz
This guide explains what tokenized stocks are, how they work, the advantages and risks involved, and why BingX is the ideal platform to buy AAPL and other tokenized stocks.
What Are Tokenized Stocks?
Tokenized stocks, sometimes called tokenized equities, are digital tokens on a blockchain that represent exposure to traditional company shares, such as Apple (AAPL), Tesla (TSLA), Nvidia (NVDA)or an ETF like Nasdaq's QQQ. While Ethereum is the leading blockchain ecosystem for tokenized equities by accounting for nearly $330 million or 50% of the market share, Solana comes second with a TVL of over $153 million as of December 2025.
Depending on the structure, each token may:
• Be backed 1:1 by a real share held with a regulated custodian for wrapped or asset-backed model
• Or synthetically mirror the stock price using derivatives and price oracles, without holding the underlying shares for synthetic model
Total value of tokenized stocks by blockchain | Source: RWA.xyz
In both cases, the aim is the same: give you stock-like price exposure inside the crypto ecosystem, so you can trade, transfer, and sometimes use these tokens in DeFi, often 24/7 and in fractional amounts, using stablecoins or other crypto assets instead of a traditional broker.
How Do Tokenized Stocks Work?
How tokenized shares work | Source: Unicsoft
While implementations differ by platform, most tokenized stock systems follow a similar process:
1. Share Acquisition and Custody
A regulated issuer or financial institution, e.g., Backed, Ondo, Securitize or similar entities:
1. Buys real shares of a company or ETF through traditional brokers and exchanges
2. Holds them with a licensed custodian under local securities law
3. Maintains off-chain records and undergoes audits or “proof of reserves” checks to prove that tokens are properly backed
For example, xStocks issued by Backed has launched more than 60 tokenized stocks, each backed 1:1 by underlying securities held with custodians in Switzerland and the U.S.
2. Tokenization and Smart Contracts
Once the shares are in custody, the issuer mints tokens on a blockchain:
• Each token corresponds to one share or a defined fraction
• Smart contracts manage minting, burning, transfers, and sometimes corporate actions
• Price oracles, e.g., Chainlink, feed real-time stock prices to keep the token aligned with the underlying asset value
If more shares are bought, more tokens can be minted; if shares are redeemed or sold, tokens are burned.
3. Trading and Settlement
You can trade tokenized stocks:
• On centralized exchanges (CeFi) offering stock tokens and sometimes futures
• On decentralized exchanges (DEXs) where the tokens behave like any other fungible token
Because they’re on-chain:
- Transfers settle in seconds or minutes, rather than T+1 or T+2
- You can often trade 24/7, not just during traditional market hours
- Settlement is handled by smart contracts and recorded on the blockchain
Solana has emerged as a major rail for tokenized stocks thanks to its high throughput, low fees, and token-level compliance tools, with some reports showing it capturing 95–99% of tokenized stock trading volume in mid-to-late 2025.
4. Redemption and Exit
Depending on the product, you may:
• Redeem your tokens for stablecoins or fiat at a price close to the underlying stock
• In some regulated structures, redeem into the underlying securities or an equivalent SPV claim
When redemption happens, the issuer burns the corresponding tokens and adjusts custody records so token supply matches the number of shares held.
Tip: Always read the documentation to see whether you have direct shareholder rights, creditor rights on an SPV, or only synthetic price exposure.
What Are the Different Types of Tokenized Stocks?
You’ll usually see tokenized stocks structured in three broad ways:
1. Asset-Backed and Wrapped Tokens: These tokens are backed 1:1 by real shares held with a regulated custodian, giving you economic exposure to the underlying stock. Dividends and rights may or may not pass through, but this is the most widely adopted model; xStocks alone processed over $10 billion in combined volume within six months.
2. Synthetic Tokens: These are on-chain derivatives that mirror a stock’s price using smart contracts, oracles, and hedging rather than real share custody. They offer flexible global access but introduce additional counterparty and model risk because you have no legal claim on actual shares.
3. Natively Issued On-Chain Shares: Here, the token is the legal security, and companies issue equity directly on a blockchain with transfer agents or regulated infrastructure maintaining unified records. This model is still emerging, but proposals from Nasdaq and DTCC are accelerating interest in fully fungible, on-chain corporate securities.
Why Are Tokenized Stocks are Popular Now?
Tokenized stock volume by blockchain | Source: X
Tokenized stocks are accelerating in 2025 because both crypto platforms and major global exchanges are now building real infrastructure, and real liquidity, around them. The broader RWA tokenization market has grown to $35–36 billion on-chain, nearly 10× since 2022, with tokenized public equities alone reaching $660 million in value and generating $1.22 billion in monthly transfer volume. At the same time, trading activity is deepening: xStocks, one of the largest issuers, crossed $10 billion in combined exchange and on-chain volume in less than six months, prompting Kraken to acquire Backed Finance to consolidate issuance, custody, and settlement under one framework.
Traditional finance is driving the expansion even faster. Ondo Global Markets secured Liechtenstein FMA approval to offer tokenized U.S. stocks and ETFs across the entire EEA, unlocking access for more than 500 million retail investors. Nasdaq has formally asked the SEC for rule changes to list tokenized securities directly, while the London Stock Exchange Group (LSEG) launched its Digital Markets Infrastructure platform and committed £100 million to blockchain-based issuance and settlement. These developments indicate that tokenized equities are moving beyond experimental concepts and are rapidly becoming a parallel distribution channel for global equity markets, powered by institutional-grade regulation, custody, and liquidity.
What Are the Key Benefits of Tokenized Stocks?
Pros of tokenized stocks | Source: Tiger Research
Here are the main advantages that make tokenized stocks an increasingly popular way to access equity markets, especially for crypto-native investors and global traders.
1. Fractional Ownership: Tokenized stocks let you buy tiny slices of high-priced equities like Tesla or NVIDIA, making blue-chip exposure accessible with just a few dollars. This makes dollar-cost averaging and small-ticket trading strategies far easier than in traditional markets.
2. 24/7 Global Access: You can trade tokenized stocks around the clock, reacting instantly to earnings surprises, macro news, or geopolitical events, even when U.S. markets are closed. This is especially valuable for traders outside major financial hubs who operate in different time zones.
3. Faster Settlement: On-chain transfers typically settle in seconds, drastically reducing counterparty and settlement risk compared to legacy T+1 or T+2 systems. The result is smoother trade execution and lower operational friction for active traders.
4. DeFi Composability: Tokenized equities can plug directly into DeFi, allowing you to use them as collateral, provide liquidity, or participate in structured yield products. This creates entirely new strategies that blend stablecoins, RWAs, leverage, and automated trading logic.
5. Integrated Crypto Experience: You can trade tokenized Apple or Tesla using the same wallets, stablecoins, and on-chain tools you already use for crypto. There’s no need to manage separate brokerages, FX conversions, or traditional settlement accounts.
6. Lower Barriers for Non-Local Investors: In certain jurisdictions, tokenized stocks provide compliant access to U.S. equities or global indices without requiring a local brokerage account. This gives international investors a simpler, faster route to global markets, subject to regional regulations and platform restrictions.
Where Can You Invest in Tokenized Stocks?
You can invest in tokenized stocks through centralized platforms or directly on-chain depending on your region, risk tolerance, and preferred trading experience.
1. Through Centralized Platforms
Centralized exchanges like BingX make the process feel similar to traditional trading: you open an account, complete KYC, deposit fiat or stablecoins, and search for tokenized tickers such as AAPLX, TSLAX, or NVDAX. These platforms often provide deeper liquidity, simplified UX, and in some cases even perpetual futures tied to tokenized equities. However, availability is highly jurisdiction-dependent, with many exchanges restricting access for U.S. residents and other tightly regulated markets.
2. Directly On-Chain via DeFi
If you prefer self-custody and full DeFi composability, you can buy tokenized stocks directly on-chain via compatible wallets and decentralized platforms. After setting up a non-custodial wallet like Phantom for Solana or MetaMask for EVM chains, you fund it with the relevant gas token and stablecoins, connect to a DEX or RWA protocol, and swap into the tokenized stock you want.
This route unlocks additional benefits, liquidity provisioning, collateralized borrowing, and automated yield strategies, but requires careful diligence. Always verify official contract addresses, check on-chain liquidity and activity through tools like RWA.xyz or block explorers, and start small before deploying meaningful capital.
Tip: Always verify official contract addresses and check analytics dashboards like RWA.xyz or chain explorers for liquidity, holders, and transfer activity before committing serious capital.
How to Buy Tokenized Stocks on BingX
BingX is one of the most convenient platforms for investing in tokenized stocks because it offers fast execution, deep liquidity, and BingX AI tools that help you analyze trends, spot opportunities, and make smarter trading decisions in real time. As of December 2025, BingX supports nearly 30 tokenized stocks in the spot and futures markets.
Buy Tokenized Stocks on BingX Spot Market: Step-by-Step
AAPLX/USDT trading pair on the spot market powered by BingX AI insights
Step 1: Create or Log In to Your BingX Account
Sign up on bingx.com or open the BingX app, then complete KYC if required in your region.
Step 2: Deposit Funds
Add USDT, USDC, or fiat using bank cards, local payment methods, or P2P trading. Your funds will appear in your Spot Wallet.
Step 3: Search for the Tokenized Stock
Type the ticker in the search bar; examples include Tesla (TSLAX), NVIDIA (NVDAX), Apple (AAPLX), and Alphabet Tokenized Stock (GOOGLX).
Step 4: Place a Spot Trade
Choose Market Order for instant execution or Limit Order to set your preferred entry price. Confirm the trade and your tokens will appear instantly in your Spot Wallet.
Step 5: Manage Your Portfolio
Use BingX AI insights, price alerts, and charts to monitor performance or rebalance your holdings anytime.
Trade Tokenized Stocks on BingX Futures
NDVAX/USDT perpetual contract on the futures market powered by BingX AI
For experienced users, BingX also offers perpetual contracts for selected tokenized equities.
Step 1: Transfer Funds to Futures Wallet
Move USDT from your Spot Wallet to your Futures Wallet with one tap.
Step 2: Search for the Tokenized Stock Perpetual Pair
Examples include NVDAX/USDT Perpetual and MSTRX/USDT Perpetual.
Step 3: Choose Your Leverage
Start with low leverage if you are new to futures trading, high leverage increases liquidation risk.
Step 4: Open a Long or Short Position
• Long if you think the tokenized stock will rise
• Short if you expect a price drop
Set take-profit and stop-loss levels for better risk control.
Step 5: Monitor and Close Your Position
Track PnL in the Futures dashboard and close your position anytime. Profits or losses settle instantly in your Futures Wallet.
Why Is BingX the Best Platform for Buying Tokenized Stocks?
BingX stands out as a top destination for tokenized stock investors thanks to its combination of deep liquidity, fast execution, and powerful BingX AI tools that enhance decision-making with real-time insights, trend detection, and automated market analysis. Unlike many platforms that only offer spot trading, BingX provides both spot and futures markets for nearly 30 leading tokenized equities, letting you buy, hedge, or trade directional views with flexible leverage options.
BingX also offers a streamlined onboarding experience: simple KYC flows, multiple funding methods, and user-friendly mobile and web interfaces that make equity-style products accessible to crypto-native users. With its strong security track record, transparent listings, and expanding range of tokenized tickers like TSLAX, NVDAX, AAPLX, and GOOGLX, BingX gives traders a reliable, high-performance environment to gain exposure to global equities without leaving the crypto ecosystem.
How Are Tokenized Stocks Different From Traditional Shares and Fractional Shares?
It helps to compare three ways of getting equity exposure:
| Feature | Traditional Shares (Broker) | Fractional Shares (Broker) | Tokenized Stocks (On-Chain) |
| Trading Hours | Market hours (plus limited extended) | Market hours | Often 24/7 |
| Custody | Broker/central depository | Broker | On-chain wallet + issuer custodian |
| Ownership Rights | Full shareholder rights | Typically partial/economic | Often economic only; rights vary by structure |
| Minimum Ticket Size | 1 share | Fractional | Fractional |
| Settlement | T+1/T+2 | T+1/T+2 | Near instant on-chain |
| DeFi Integration | None | None | Yes (lending, LPing, structured products, etc.) |
| Regulatory Clarity | Mature | Mature | Evolving and jurisdiction-dependent |
Tokenized stocks sit between traditional shares and fractional brokerage shares, offering the price exposure of real equities but with crypto-native flexibility. Unlike traditional shares, which settle through legacy systems like DTCC and require a brokerage account, tokenized stocks live on-chain, settle in seconds, and can be traded 24/7 using stablecoins. Compared with fractional shares offered by brokerages, tokenized stocks provide broader global access, deeper composability with DeFi, and the ability to move or custody assets in your own wallet, but often without full shareholder rights such as voting or direct dividend entitlement.
Fractional shares, meanwhile, remain the most regulated and investor-friendly format, providing the economic rights of traditional equity but without portability across platforms. Traditional shares offer the strongest legal protections and direct ownership but require higher operational friction, limited trading hours, and region-specific onboarding. In practice, tokenized stocks don’t replace either model; instead, they open a new access layer designed for crypto-native users who want equity exposure that moves with the speed, programmability, and global reach of blockchain networks.
What Are the Top Tokenized Stock Platforms in 2025?
A few platforms dominate tokenized equities today.
1. xStocks by Backed, now being acquired by Kraken, leads the market with over $10 billion in exchange and on-chain volume within six months, offering wrapped versions of major U.S. stocks.
2. Ondo Global Markets provides 1:1 tokenized U.S. equities and ETFs and, with Liechtenstein FMA approval, can distribute them across the EEA, giving access to more than 500 million potential investors.
3. On the crypto-native side, Solana-based tokenized stocks like TSLAX, NVDAX, and AAPLX command the highest on-chain trading volume thanks to Solana’s speed, low fees, and deep liquidity across DEXs and lending protocols.
These platforms support practical, real-world trading needs: 24/7 equity exposure, on-chain collateralization, structured yield strategies, and cross-asset trades that combine RWAs with crypto. For crypto-first users, they offer seamless access to blue-chip equities without leaving the blockchain, while maintaining the transparency and programmability that define modern on-chain markets.
Read more: Ondo Global Markets Unlocks 100+ Tokenized U.S. Stocks on Ethereum - All You Need to Know
What Are the Main Risks and Challenges of Tokenized Stocks?
Tokenized stocks also introduce a different risk profile compared to traditional brokerage accounts. Before you invest, consider:
1. Regulatory Uncertainty: Legal treatment varies by country and is still evolving. SEC, CFTC, and other regulators are working on tokenization frameworks that may change how these products can be offered and to whom
2. Ownership and Rights: Many tokenized stocks give you economic exposure but not direct shareholder status. You may lack voting rights, proxy participation, or guaranteed dividend rights. In some structures (e.g., xStocks), holders have creditor rights against an issuer/SPV rather than direct equity registration
3. Counterparty and Custody Risk: You depend on the issuer, custodian, and platform to manage underlying shares properly. Failures, fraud, or insolvency at these entities can affect token value or redemption
4. Liquidity Risk: Not all tokenized stocks have deep order books. Outside the top names, you may face wide bid–ask spreads and slippage. Even large notional volumes can hide thin, fragmented liquidity across chains and venues
5. Smart Contract and Technical Risk: Bugs in token contracts, bridges, or DeFi protocols can lead to losses. MEV, front-running, and chain congestion can affect execution quality on some networks
6. Price Divergence from Underlying: In wrapped models, arbitrage helps keep prices close to the real stock, but during stress, tokens can decouple. Synthetic tokens can diverge if hedging breaks, oracles fail, or the derivative model is mis-managed
Rule of thumb: treat tokenized stocks as high-innovation but higher-risk instruments, and size your positions accordingly.
Conclusion: Should You Invest in Tokenized Stocks?
Tokenized stocks offer a practical way to access equity markets from within the crypto ecosystem, combining 24/7 trading, fractional ownership, and DeFi-driven flexibility that traditional brokerages cannot match. They work well for investors who want to blend traditional equity exposure with on-chain tools, or who value the ability to trade and deploy assets across multiple platforms without the friction of legacy settlement systems.
However, tokenized stocks also come with meaningful risks. They rarely provide full shareholder rights, rely on issuer and smart-contract infrastructure, and operate within a regulatory environment that is still evolving. Liquidity varies widely across tickers, making slippage a real concern in thinner markets. For most users, tokenized stocks function best as a supplement to traditional investment accounts rather than a replacement, useful for tactical trading, hedging, or DeFi strategies, while long-term holdings remain in conventional, well-protected custodial setups. Always assess platform reliability, legal frameworks, and on-chain risk before allocating significant capital.
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FAQs About Tokenized Stocks
1. Are tokenized stocks the same as real stocks?
Not exactly. Tokenized stocks are representations of stock exposure on a blockchain. In many cases, they are backed by real shares, but you usually don’t appear on the company’s shareholder register. Your rights depend on the product’s legal structure and jurisdiction.
2. Do tokenized stocks use blockchain technology?
Yes. Tokenized stocks live as tokens on blockchains like Ethereum, Solana, or Gnosis, using smart contracts for issuance, transfer, and sometimes corporate actions.
3. Are tokenized stocks safe?
They carry additional risks beyond normal stock investing:
• Smart contract and technical risk
• Counterparty/custodian risk
• Regulatory changes and access restrictions
Using reputable, regulated platforms and audited protocols can reduce, but not remove, these risks.
4. Can anyone invest in tokenized stocks?
No. Access depends on where you live and on each platform’s licenses and terms. Many tokenized stock offerings exclude U.S. persons and residents of other highly regulated jurisdictions.
5. Do tokenized stocks pay dividends?
Some wrapped structures pass through dividends (as stablecoins or reinvested value), while synthetic tokens typically do not. Always check the documentation and terms for each product.
6. What blockchains are most used for tokenized stocks?
Ethereum remains a major base for institutional RWAs, but Solana has become a leading rail for retail-facing tokenized stocks, capturing the majority of on-chain tokenized equity trading volume in 2025.
7. What is the future outlook for tokenized stocks?
With exchanges like Nasdaq seeking approval to list tokenized securities, major groups like LSEG investing in private DLT infrastructure, and EU regulators approving platforms like Ondo, industry consensus is that tokenized stocks will become a mainstream complement to traditional equities over the next decade, provided regulation, custody standards, and liquidity continue to mature.