Tokenized US stocks and ETFs
Tokenized US stocks are blockchain tokens issued by a regulated issuer against listed shares it holds, so the token tracks the share price and settles to a wallet you control. Fensory carries the full Ondo Global Markets and xStocks catalogues. The same account also reaches stock perpetual futures, which give price exposure and convey no share.
Prompts that work today
Copy any of these into a connected assistant. The order still passes your kill-switch, your market list and your ceiling on a single order before it reaches a venue.
Put $500 into Apple.
One orderBuy $500 of tokenized Tesla, and do not spend more than $600 on it.
With a capDCA into Nvidia using VWAP and park idle funds in T-bills.
ScheduledKeep me 60/30/10 across equities, treasuries and gold.
Standing rule
Two issuers, one account
Venues that carry tokenized equities usually carry one issuer. Fensory carries both catalogues, which matters because the two are not interchangeable.
| Ondo Global Markets | xStocks by Backed | |
|---|---|---|
| Symbol convention | TSLAon, AAPLon | TSLAx, AAPLx |
| Structure | Set by the issuer, documented in its own terms | Set by the issuer, documented in its own terms |
| Corporate actions | Handled per issuer policy | Handled per issuer policy |
| On Fensory | Full catalogue | Full catalogue |
Legal structure, dividend treatment and redemption belong to the issuer, not to Fensory. Read the issuer documentation for the asset you are buying; the two differ, and either can change its terms.
When each issuer actually trades
This is where the two diverge most. Every figure below comes from the issuer documentation, checked on 8 September 2026; we found no published comparison of the two schedules when we looked on that date.
| Ondo Global Markets | xStocks by Backed | |
|---|---|---|
| Trading | Scheduled sessions from 8:05pm ET Sunday to 7:59pm ET Friday: pre-market 4:01am to 9:29am, core 9:31am to 3:59pm, post-market 4:01pm to 7:59pm, overnight 8:05pm to 3:55am | Around the clock, on supported exchanges and DeFi venues |
| Weekends | A separate off-hours session, enabled per asset rather than across the catalogue, runs from Friday evening until trading reopens Sunday evening | Trading continues |
| Issue and redeem | Within the session structure above | Five days a week, aligned to US equity market hours |
| Closed | NYSE market holidays, except for assets enabled for off-hours trading, which keep trading through them. Also briefly around each session boundary | Issuance and redemption follow US market hours |
Ondo publishes live trading status at status.ondo.finance. Hours are set by the issuer and can change, so check the documentation for the asset you hold rather than relying on this table alone.
What you hold, and what you do not
A tokenized stock is a token issued against shares the issuer holds. It is not the share. It tracks the share price and it settles to a wallet you control, which is what removes the need for a brokerage account.
That means the rights attached to a share do not automatically come with it. Voting, dividend pass-through and redemption are set by the issuer and differ between them. Tokenizing a security does not change its legal status.
A stock perp is a different instrument on the same ticker, and the distinction matters more than it sounds. It is a perpetual future: it tracks the price with no expiry, conveys no share and no dividend, and it can be leveraged, which means the position can be closed out against you. Nothing settles to your wallet. You have price exposure and nothing else.
The essentials
- Issuers
- Ondo Global Markets and xStocks by Backed, both catalogues in full
- Chains
- Ethereum, Solana and BNB Chain
- Tokenized share
- A token the issuer mints against shares it holds. It settles to a wallet you control, and Fensory never holds it.
- Stock perp
- A perpetual future on the same ticker. Price exposure only: no share, no dividend, and leverage carries liquidation risk.
- Hours
- Wider than the New York session. Exact windows differ by issuer, so check the issuer for the asset you are trading.
- Agent access
- Both instruments are agent-reachable. Perps are authorised separately from spot in the app, so enabling one does not enable the other.
Questions people ask
- What is a tokenized stock?
- A token issued against a real share held by a regulated issuer, tracking that share price on-chain. It gives you the price exposure without a US brokerage account, and it settles to a wallet you control rather than to a broker.
- What is the difference between a tokenized stock and a stock perp?
- A tokenized stock is a token backed by shares the issuer holds, and it settles to your wallet. A stock perp is a perpetual future: it tracks the same price with no expiry, conveys no share and pays no dividend, and it can be leveraged, which means a position can be liquidated. Both reach Tesla. Only one of them is a claim on anything.
- Do tokenized stocks pay dividends?
- Treatment depends on the issuer. Ondo Global Markets and xStocks handle corporate actions differently, so check the issuer documentation for the specific asset before you assume a dividend is passed through. Stock perps never pass a dividend through, because there is no share behind them.
- Can I trade tokenized stocks outside market hours?
- Trading windows are wider than the New York session but they are not identical across issuers, and liquidity outside regular hours is thinner. Check the issuer for the asset you hold. Stock perps trade continuously.
- Do I own the underlying share?
- No, under either instrument. A tokenized stock is a token issued against shares the issuer holds, and the legal structure is set by the issuer: tokenizing a security does not change its legal status. A stock perp is a derivative and carries no claim on a share at all.