Tokenized Stocks: What They Are, How They Work and How to Buy Them

Tokenized stocks are blockchain tokens that track the price of a listed company's shares or an ETF. Issuers like xStocks back each token 1:1 with the underlying share held by a custodian, but holders get price exposure, not shareholder rights. On Solana, xStocks such as TSLAx and NVDAx trade onchain, and you can trade them in Moby.

What are tokenized stocks?

A tokenized stock is a blockchain token whose price is meant to follow a listed company or an ETF. Tokenized equities is the name many data sites use. Stock tokens is the shorter trading name. Tokenized shares says the token stands in for the economic result of a share. Tokenization of stocks is the process: an issuer holds the underlying share with a custodian and mints a token that tracks it.

Buying the token is not the same as holding that share at a broker. You do not get shareholder rights, such as a vote. Tokenized assets is the wider idea, and it also covers bonds and funds.

RWA.xyz showed about $3.58 billion in distributed tokenized stock value on November 2, 2026. On Solana the examples include TSLAx and NVDAx. Trade them in Moby, or keep your main portfolio at your broker and use tokenized stocks on the side.

How do tokenized stocks work?

Here is how tokenized stocks work. The steps follow the xStocks docs for tokens that trade on Solana.

1. An issuer buys the underlying share and holds it with a custodian. xStocks describe that holding as 1:1, with regulated custodians. The token is not a brokerage account in your name at the company.
2. The issuer mints a token on a blockchain that tracks that share's price. On Solana, xStocks are SPL Token-2022 tokens. The mint address is the token's identity. A similar ticker with a different mint is a different asset.
3. The token trades onchain, on decentralized exchanges and in apps, any time the network is running. Settlement is onchain and near-instant, rather than the T+1 settlement a broker uses for a share.
4. Primary minting and redemption go through the issuer. For xStocks, that window is for clients who have completed the issuer's checks, and it runs 24/5. Everyone else trades the token on the secondary market. Supply and demand set that price.
5. Dividends are passed on economically. For xStocks, dividends on the underlying share are reinvested and the token balance increases, net of withholding tax. You do not receive a separate cash payment. On Solana, the docs say the raw balance stays put and a Scaled UI multiplier changes the amount the wallet displays.

The secondary price can differ from the share's last print. When the stock market is closed, onchain trading can continue and the token price can move away from the last market price.

Three ways a stock can be tokenized

Investor.gov describes three ways a stock can be tokenized.

• Issuer-sponsored. The company issues the security onchain, with the same rights as a traditional share of that class.
• Custodial. The token represents an indirect interest held through an intermediary. Investor.gov says the holder receives the same rights as a traditional shareholder.
• Synthetic. A third party issues a linked instrument: price exposure, and no claims against the company.

xStocks describe themselves as tracker certificates backed 1:1 by the underlying shares, with no voting or shareholder rights. That is the issuer's description in the xStocks FAQ. This page does not place xStocks in one of the three models.

How regulators classify tokenized stocks

Investor.gov uses tokenized securities as the legal name. On March 17, 2026, the SEC issued an interpretive release stating tokenized securities are securities, and that they fall under the securities laws and the investor protections that apply to securities. The same page separates that category from crypto assets it does not treat as securities, such as some commodities, collectibles and tools.

This page does not say where a person can buy a token. The issuer's documents cover what backs a token and which rights you do not receive.

What are xStocks?

xStocks are tokenized stocks and ETFs issued by Backed Assets (JE) Limited. The xStocks docs and Kraken's xStocks page describe each token as backed 1:1 by the underlying share, held by regulated custodians. The FAQ calls each one a tracker certificate: price exposure, dividends reinvested into the token balance rather than paid as cash, and no shareholder rights such as voting.

The ticker is the listed symbol plus the letter x. Tesla becomes TSLAx, NVIDIA becomes NVDAx, and Apple becomes AAPLx. The same pattern covers ETFs. SPYx tracks an S&P 500 ETF, and QQQx tracks a Nasdaq-100 ETF. The extra letter is a name, not proof that two markets are the same token. Match the Solana mint before you trade.

On Solana, xStocks are SPL Token-2022 tokens. They are also issued on other chains. This page does not list those chains, and Moby trades the Solana tokens. The xStocks catalog listed 1,393 products on November 2, 2026. The table below is a short set of examples, not a ranking and not a recommendation. Other issuers include Ondo, whose tokenized stocks use an "on" suffix. Moby does not support Ondo tokens.

Tokenized stocks on Solana

Tokenized stocks on Solana, in this guide, are xStocks issued as Solana tokens. The same question shows up as xStocks Solana and as Solana tokenized stocks. Solana is a fit because transactions are fast and fees are low, and because a large set of xStocks is issued natively there.

CNBC reported on October 21, 2026 that tokenized stock trading is growing, and that some listed companies have objected to tokenized versions of their shares on a specific venue. Growth in trading does not remove issuer risk, thin pools or off-hours prices.

In Moby, tokenized stocks trade as Solana tokens. The Moby app also trades tokens on Robinhood Chain, BNB Chain and Base. You can swap them yourself, or let an AI agent trade tokenized stocks inside limits you set. The agent pays in USDC on Solana. Agent trading on Base, BNB Chain and Robinhood Chain is coming soon.

Examples of tokenized stocks on Solana

Examples only, not recommendations. Each Solana mint is the address in the xStocks catalog on November 2, 2026.

Tokenized ETFs exist too, like SPYx and QQQx, and so do commodity trackers like GLDx. Read our guide to tokenized gold.

Tokenized stocks vs shares at a broker vs ETFs

Tokenized stocks vs ETFs comes down to what you hold.

You do not have to choose. Keep your main portfolio at your main broker, where you hold the share and receive whatever voting rights and cash dividends that account provides. Use tokenized stocks in Moby on the side, for example a themed basket your agent trades, inside limits you set. The broker account and the Solana token do different jobs, and you can use both. The long-term account can stay put. Moby is complementary. It is not a replacement for that broker.

How to buy tokenized stocks

How to trade tokenized stocks, and where to buy them, in Moby:

1. Download Moby and create your account.
2. Add funds. You can deposit SOL, USDC or $MOBY in the Moby app. USDC on Solana is what your agent uses.
3. Search the ticker, for example TSLAx or NVDAx.
4. Check it is the xStocks token: compare the mint address with the table on this page or the xStocks site.
5. Enter an amount, review the quote, the fee and price impact, then swap.

A 0.75% swap fee (minimum $0.90 per swap), plus onchain fees.

10% of the Moby fee back in $MOBY on every swap, 20% after your first swap, up to 30% as you climb tiers.

Let your Moby Agent trade them

Set up a Moby Agent with its own wallet and your spending guardrails, then connect it to the AI you use.

Your agent can trade Solana tokens, paid in USDC, including tokenized stocks like TSLAx, NVDAx and SPYx.

You have one agent. Its wallet is separate from the wallet you use in the app. One themed basket is enough, for example a tech basket of AAPLx, MSFTx, NVDAx, AVGOx and TSMx.

You set your agent's limits on max per trade, daily buy volume and market-cap range from the Moby app, and Moby checks them server-side on every buy your agent makes.

Connect your Moby Agent to Codex, Claude Code or Grok. The connector is the Moby MCP. See the Moby starter strategies for a starting point. The agent cannot withdraw your funds.

Risks of tokenized stocks

Price can fall. On top of that, a tokenized stock adds risks that do not come with the share at your broker.

• Issuer and custody risk. You rely on the issuer and its custodian holding the underlying shares. Read the proof of reserves and the prospectus.
• No shareholder rights. No votes, and dividends arrive as balance increases, not cash.
• Token controls. xStocks on Solana are Token-2022 tokens. Token-2022 tokens can carry issuer-controlled features such as freezing or pausing. The xStocks docs name a Scaled UI extension for dividend and split display. Check the token's authorities on a Solana explorer.
• Off-hours price gaps. When the stock market is closed, the token can move away from the last market price and spreads can be wider, as Kraken's xStocks page describes.
• Liquidity. Thin pools mean bigger price impact on larger trades. Size the swap to the pool, not to the listed company's market cap.
• Company pushback and changing rules. Some listed companies have objected to tokenized versions of their shares on a specific venue (CNBC, October 21, 2026). Terms can change. Read the current documents.
• Smart contract and wallet risk. A wrong mint or a lost wallet key is your loss. The app does not reverse an onchain swap.

Trading tokenized stocks and other crypto assets is risky and you can lose money. Tokenized stocks give price exposure and do not carry shareholder rights. AI agents can make mistakes. Nothing on this page is investment advice.

Frequently asked questions

What are tokenized stocks?

Tokenized stocks are blockchain tokens that track the price of a listed company's shares or an ETF. Issuers like xStocks back each token 1:1 with the underlying share held by a custodian. Holders get price exposure, not shareholder rights such as voting.

How do tokenized stocks work?

An issuer buys the underlying share, holds it with a custodian and mints a token that tracks its price. The token then trades onchain, so it can move between wallets and apps at any time. Dividends are passed on economically, for xStocks by increasing your token balance.

What are xStocks?

xStocks are tokenized stocks and ETFs issued by Backed Assets (JE) Limited. Each xStock is backed 1:1 by the underlying share and uses the original ticker plus an x, such as TSLAx for Tesla or NVDAx for NVIDIA. On Solana, xStocks are SPL Token-2022 tokens.

How do I buy tokenized stocks?

In Moby, download the app, add funds, search a ticker such as TSLAx, check the mint address and swap. A 0.75% swap fee (minimum $0.90 per swap), plus onchain fees. You can also let a Moby Agent trade tokenized stocks within your guardrails.

Do tokenized stocks pay dividends?

Not as cash. For xStocks, dividends on the underlying share are reinvested and your token balance increases to reflect them, net of withholding tax. Other issuers handle dividends differently, so check each issuer's documentation.

Can you trade tokenized stocks 24/7?

Tokenized stocks on Solana can trade onchain at any time. Issuer minting and redemption usually follow a 24/5 schedule, and when the stock market is closed, token prices can move away from the last market price and spreads can be wider.

Are tokenized stocks safe?

They carry risks a share at your broker does not: you rely on the issuer and its custodian, the token can have issuer controls, liquidity can be thin and prices can gap outside market hours. Trading them is risky and you can lose money, so start small and read the issuer's documents.

Are tokenized stocks the same as owning shares?

No. A tokenized stock such as an xStock gives you economic exposure to the share's price and dividends, but not shareholder rights like voting. Many people keep their main portfolio at their main broker and use tokenized stocks on the side.

Trade tokenized stocks in Moby

Keep your main broker. Trade tokenized stocks on the side in Moby, or let your Moby Agent trade a themed basket.

Trading tokenized stocks and other crypto assets is risky and you can lose money. Tokenized stocks give price exposure and do not carry shareholder rights. AI agents can make mistakes. Nothing on this page is investment advice.

Try it with a Moby Agent

Try it with a Moby Agent. You get one agent, with its own wallet. Setup is on Moby Agents, and what agentic trading means is the longer version.