A year ago, owning a stock onchain was a party trick. This year it is where the money is going first. Tokenized equities just set an all-time high, and nearly three in four new real-world-asset wallets opened in 2026 were opened to hold them. The appeal is obvious once you see it: own Tesla, NVIDIA, or the S&P 500 as a token, trade it long after the closing bell, even on a weekend, and settle in stablecoins.
Then comes the part nobody tells you. Where you buy it quietly decides what you are allowed to do with it afterward. Buy it in the wrong place and you own a screenshot of a stock. Buy it in the right place and you own an asset you can actually use.
Here are the real options, and who each one is for.
First decision: who holds the keys
Every platform here falls into one of two camps.
- Custodial. The exchange holds the token for you. Simple, familiar, and you are trusting the venue.
- Self-custody. The token lands in your own wallet. You control it, move it, and use it anywhere onchain.
That single choice shapes everything else, so decide it first.
Then ask the question most lists skip
How many assets, which chains, and what the KYC and geography rules are all matter. But the question that actually separates these platforms is this: once you own the tokenized stock, what can you do with it?
For most venues the answer is "hold it, and sell it later." That is fine, but it wastes the whole point of putting a stock on a blockchain. The platforms worth a second look are the ones where the position can earn, move, and be compared against the rest of the market.
The options
Kraken (xStocks). A major exchange offering tokenized equities through the xStocks issuer, settling on Solana and Ethereum, with a deep blue-chip list. The easy pick if you already live on Kraken. Custodial.
Bybit (xStocks). Same shape as Kraken, distributing xStocks tokens with exchange-grade liquidity. Custodial.
Robinhood. Since July 2026, stock tokens moved to Robinhood Chain and became self-custody and portable to third-party wallets, live in 120+ countries (not the US, Canada, UK, Switzerland, or UAE). Still the gentlest on-ramp of the group for a first-timer, now with less lock-in than before.
Binance. Distributes Ondo Global Markets assets to a very large wallet base, so reach is the story. Like the others, the app sits on top of an issuer.
Exodus (Exodus Markets). A self-custody marketplace for a few hundred tokenized stocks and ETFs that settle to your own Solana wallet, built on Ondo. The closest of the bunch to truly holding the asset yourself.
Fensory. Non-custodial, with tokenized US equities from both Ondo and xStocks side by side. The difference shows up after you buy: the same catalog can be put to work in DeFi yield, compared asset by asset against the rest of the market, and searched with a built-in AI that finds and vets opportunities in plain language. Fensory's AI-agent trading over MCP is rolling out this week; perpetuals are next. Built for people who want to do something with a tokenized stock, not just park it.
One name to keep straight: Ondo and xStocks (Backed) are the issuers that mint the tokens. They are the layer underneath almost every app above, not a separate thing to choose between. The real choice is which app you hold them in.
Side by side
| Platform | Custody | Coverage | Chains | Earn yield on it | Best for |
| ---------------- | ----------------------------- | ---------------- | ------------------------------------------ | ---------------- | ------------------------ |
| Kraken (xStocks) | Custodial | Broad blue chips | Solana, Ethereum | No | Existing Kraken users |
| Bybit (xStocks) | Custodial | Broad | Multiple | No | Exchange liquidity |
| Robinhood | Self-custody (since Jul 2026) | Core names | Ethereum (Robinhood Chain, an Arbitrum L2) | No | Beginners outside the US |
| Binance | Custodial | Ondo catalog | Multiple | No | Reach and familiarity |
| Exodus | Self-custody | 200+ via Ondo | Solana | No | Self-custody holders |
| Fensory | Self-custody | Ondo + xStocks | Ethereum and BNB Chain | Yes | Holding and composing |
So where should you actually go
If you want to buy a tokenized stock and let it sit, any of the exchanges will do, and Robinhood is the softest landing outside the US. If you want the asset in your own wallet, the self-custody field just got bigger: Exodus, Robinhood (outside the US), and Fensory all qualify now. The real split is what happens after you buy it.
Here is the honest reason we built Fensory. Look at the last column of that table. Everywhere else, buying the stock is the finish line. With Fensory it is the starting line: hold it, earn yield on it, line it up against everything else onchain, and let the AI do the digging. A tokenized stock is worth more in a place that lets you compose with it than in a place that just lets you keep it.
App at Fensory.com