Where to buy tokenized stocks
Tokenized US stocks are distributed through exchanges, wallets and onchain venues, and most comparisons rank the apps. The issuer matters more: it decides how many names exist, which chains they settle on, and which countries may hold them. Two issuers exclude US persons outright and one of those also excludes the UK, Canada and Australia. This page compares the issuers first and the apps second. Checked 20 October 2026.
Published 2026-09-22, last edited 2026-10-20. Every competitor claim was read against its own source on 2026-10-20. The page is re-checked when a source changes and at least quarterly. Fensory appears in this comparison and sells a trading account.
The comparison
| Route | Who holds the token | Who mints it | Settles on | What you can do with it | Where you can open it |
|---|---|---|---|---|---|
| xStocks through an exchange | The exchange, unless you withdraw | Backed Assets (JE) Limited, Jersey | 11 chains, including Ethereum, Solana, BNB Chain and Arbitrum | Hold and sell. Whatever the venue supports | Not available in the United States, United Kingdom, Canada, Australia or sanctioned jurisdictions |
| xStocks in your own wallet | You | Backed Assets (JE) Limited, Jersey | 11 chains, including Ethereum, Solana, BNB Chain and Arbitrum | Moves peer to peer. xStocks names Morpho, Orca and Kamino as DeFi venues | Same exclusions as above. The issuer restricts the asset, not the wallet |
| Ondo Global Markets, direct | You. Tokens transfer peer to peer | Ondo Global Markets (BVI) Limited | Three: Ethereum, BNB Chain and Solana | Freely transferable onchain, and redeemable back to the issuer | Not available in the United States. Eligible non-US persons only, outside restricted jurisdictions |
| Dinari dShares | Split. The token is yours; the underlying shares are "held in custody by a registered US broker-dealer" | Dinari, through a regulated brokerage and clearing stack | Not stated on the page we read | Held in a wallet, subject to the KYC gate below | More than 85 jurisdictions, including the EU under MiFID II, Hong Kong and Latin America. Dinari also uses a US-facing broker-dealer structure |
| Kraken xStocks | Kraken until withdrawal. You after withdrawal to a compatible wallet | Backed Assets (JE) Limited, Jersey | The product page describes xStocks as SPL tokens and supports withdrawal to compatible onchain wallets | Trade on Kraken 24/5, or withdraw and use the token onchain around the clock | Available to eligible non-US clients. Not available in the US, Canada, UK or Australia |
| Robinhood Classic Stock Tokens | Robinhood. The contract cannot be sent to another wallet or platform | Robinhood. The underlying assets are held by a US-licensed institution | Recorded on a blockchain. The support page does not name the chain | Buy, sell or hold inside Robinhood. Transfers are not available | Offered through Robinhood Europe. The support page does not publish a country list |
| FensoryOurs | You. Tokens settle to a wallet you control | Both. Ondo Global Markets and xStocks by Backed | Ethereum, Solana and BNB Chain | Held, or traded alongside yield, crypto and perps on the same account | Not available to US persons. Fensory AG is Swiss |
You are choosing an issuer, not an app
Buy an xStock through one of the issuer’s named distributors and the issuer terms still govern the instrument. The app changes the fees, the interface and whether you can withdraw the token; it does not change what the token is, which chains it lives on, or who is eligible to hold it. xStocks currently lists 16 centralized-exchange partners in its ecosystem directory.
Those are the issuer’s decisions, and the issuers differ more than the apps do. xStocks publishes 1,353 stocks and ETFs across 11 chains and is unavailable in the United States, the United Kingdom, Canada and Australia. Ondo Global Markets publishes 450+ across three chains and is unavailable in the United States. Dinari runs a different structure entirely, through an SEC-registered broker-dealer, which is what lets it reach US buyers where the other two cannot.
The second question, and the one most lists skip, is what the position can do after you own it. On a custodial exchange the answer is usually hold it and sell it later, which wastes most of the reason to put a share on a chain. In a wallet you control, the same token can move, settle peer to peer and in some cases be used in DeFi. xStocks names Morpho, Orca and Kamino; that is the issuer speaking about its own token, not a claim of ours.
The routes to owning one
xStocks through an exchange
Official projectThe most common route. xStocks lists 16 centralized-exchange partners in its ecosystem directory. You buy on the exchange and, on most of them, the token stays there.
- What it reaches
- Tokenized US stocks and ETFs
- Cost
- Exchange trading fees. Not published by xStocks
Choose this if: You already have an account at one of those exchanges and you want the shortest path from cash to a tokenized share. It is the easiest route by a distance, and for a first purchase that counts for more than the rest of this table.
Worth knowing: Leaving the token on the exchange gives up the thing that makes it a token. You are trusting the venue, exactly as with any other exchange balance, and the position cannot move or be used anywhere else while it sits there.
xStocks in your own wallet
Official projectThe same tokens, withdrawn to a wallet you control. xStocks states that holders can "hold xStocks in any self-custodial wallet on supported chains", and names Phantom, OKX Web3 and Trust Wallet.
- What it reaches
- Tokenized US stocks and ETFs
- Cost
- Network fees, plus whatever you paid to acquire
Choose this if: You want the position to be usable rather than parked. This is the only route in the table where the token can be moved, lent or used as collateral, and it is the difference between owning an asset and owning a balance on someone else’s system.
Worth knowing: Self-custody is not a workaround for the geofence. The restriction attaches to the asset and to who may acquire it, not to where you keep it afterwards. Lose the keys and there is no support desk.
Ondo Global Markets, direct
Official projectMinting and redeeming from the issuer rather than buying from a venue. Tokens are "freely transferable onchain" and you connect a wallet to the app directly.
- What it reaches
- Tokenized US stocks and ETFs
- Cost
- Not published on the page
Choose this if: You want redemption back to the issuer rather than dependence on secondary liquidity, and you are comfortable connecting a wallet. Minting runs 24/5 from Sunday 8pm ET to Friday 7:59pm ET, with six major tokens available 24/7.
Worth knowing: Three chains against xStocks’ 11, and a smaller range at 450+ against 1,353. Neither is a defect; they are different bets on where onchain equities settle.
Dinari dShares
Official projectA different structure from the rest of this table. Acquisitions run through Dinari Securities, LLC, described on its own page as "an SEC-registered FINRA-member broker-dealer", and the underlying shares are held in custody by Alpaca Securities.
- What it reaches
- Tokenized US stocks, ETFs, BDCs and REITs
- Cost
- Not disclosed on the page
Choose this if: You are comparing routes with a US-facing broker-dealer structure or you are in another eligible Dinari jurisdiction. A regulated custodian behind the token is a material difference in the product structure.
Worth knowing: Our own earlier blog post called this self-custody, which was wrong and is corrected here. The token can sit in your wallet; the shares behind it sit with a broker-dealer. Verification is enforced at the contract, so an unverified wallet cannot hold one.
Kraken xStocks
Official projectKraken lists more than 100 tokenized stocks and ETFs from xStocks alongside crypto in its own app. The token can be withdrawn to a compatible wallet, so Kraken is the purchase venue rather than the final custody model.
- What it reaches
- xStocks tokenized US stocks and ETFs, alongside Kraken crypto markets
- Cost
- No trading fee with USD or USDG on the retail route. Instant Buy fees and a spread may apply with other assets
Choose this if: You already use Kraken and want the shortest route into xStocks without giving up the option to withdraw the token later. The app combines the tokenized position with crypto and starts at $1.
Worth knowing: An xStock is not the underlying share and carries no voting rights. Kraken is also unavailable for xStocks in the US, Canada, UK and Australia, and the token remains in Kraken custody until you withdraw it.
Robinhood Classic Stock Tokens
Official projectDerivative contracts offered through Robinhood Europe that follow the prices of publicly traded US stocks and ETFs. Robinhood states that buying one is not buying the actual stock.
- What it reaches
- Derivative contracts tracking publicly traded US stocks and ETFs
- Cost
- 0.10% FX fee on each order. Robinhood states there are no other Robinhood fees
Choose this if: You already use Robinhood Europe and want stock-price exposure in the same app, without setting up an external wallet or a separate tokenized-stock venue.
Worth knowing: This is not a share and it is not a portable token. It is a derivative contract with Robinhood, and Robinhood states that it cannot currently be sent to another wallet or platform.
Fensory
OursOfficial projectOur own. The app surfaces tokens from Ondo Global Markets and xStocks on one account alongside treasuries and gold. The same account connects to AI assistants over MCP for Hyperliquid spot and perpetual futures.
- What it reaches
- MCP: Hyperliquid spot and perpetual futures. App: tokenized US equities and treasuries, and gold
- Cost
- Free to connect. 0.01% to 0.05% on perpetual futures and Hyperliquid spot, nothing on tokenized equities, yields or bridging
Choose this if: You want both issuers side by side without opening two accounts, or you want the tokenized position on the same account as crypto and perpetual futures rather than split across venues.
Worth knowing: Our 101 tokens are a fraction of what either issuer publishes: 450+ at Ondo and 1,353 at xStocks. If you want the widest possible range of names, go to the issuer. Not available to US persons, which rules it out for a large share of this page’s readers.
Named by the issuer, not read by us
xStocks names these as distributing venues on its own site, and we could not open each page to check its terms. They are listed so you know where the token is sold, not recommended, and they are not ranked above.
- BybitNamed by xStocks as a distributing venue. Page not read by us.
- Gate.ioNamed by xStocks as a distributing venue. Page not read by us.
- BitgetNamed by xStocks as a distributing venue. Page not read by us.
- 360xNamed by xStocks as a distributing venue. Page not read by us.
- Exodus MarketsReported as a self-custody marketplace for tokenized stocks settling to a Solana wallet, built on Ondo. Its page returned 403 for us.
- BinanceReported to distribute Ondo Global Markets assets. Not read on Binance’s own page.
How we checked
The field is the routes to tokenized US-stock exposure, grouped by issuer or contract provider rather than by app. The provider decides what the instrument is, where it can settle and who may hold it. The xStocks, Ondo and Dinari issuer pages were rechecked on 20 October 2026; the current Robinhood and Kraken product pages were checked on 8 October 2026.
Kraken is now a verified row because its current xStocks product page loaded and documented custody, withdrawal, hours, fees and restrictions. Exodus returned 403, and the other distribution venues remain under "Named by the issuer, not read by us" rather than being described from secondary summaries.
This page corrects an earlier Fensory post, /blog/best-tokenized-stocks-platforms-2026, on two points. That post described Dinari as self-custody; Dinari states the underlying shares are held in custody by a registered US broker-dealer. And it said Fensory’s agent trading over MCP was "coming soon"; it shipped. Both corrections are on this page rather than quietly fixed.
Fensory publishes this page, appears in it, and sells a trading account. That is why the columns are documented facts from each issuer rather than a score we assign, and why our own row states that our 101 tokens are a fraction of either issuer’s range.
Questions people ask
- Do I own the actual share?
- No. With xStocks and Ondo, you hold a token issued against an underlying asset. Robinhood describes its Classic Stock Tokens as derivative contracts that follow a stock’s price. Neither is the same as holding the actual share, and the provider’s documentation determines the rights attached to the position.
- Does it matter which issuer the token comes from?
- More than which app you buy it in. The issuer sets how many names exist, which chains they settle on, how corporate actions are handled, and which countries may hold them. xStocks publishes 1,353 assets across 11 chains; Ondo Global Markets publishes 450+ across three.
- Can I buy these from the United States?
- Not from xStocks or Ondo Global Markets. xStocks states it is unavailable in the United States, United Kingdom, Canada and Australia; Ondo states it is not available in the US and is for eligible non-US persons. Dinari runs through an SEC-registered broker-dealer, which is the route with a US-facing structure.
- Is self-custody a way around the restrictions?
- No. The restriction attaches to the asset and to who may acquire it, not to where the token is kept afterwards. Moving a token to your own wallet does not make you eligible to have bought it.
- What can I actually do with a tokenized stock?
- On a custodial exchange, usually hold it and sell it later. In a wallet you control, it can move peer to peer, and xStocks names Morpho, Orca and Kamino as DeFi venues for its tokens. That difference is the main reason to care where the token ends up.