Crypto.com Launches Tokenized Stocks Tied to 1,500 U.S. Equities, ETFs

Crypto.com said Wednesday it is rolling out Tokenized Stocks tied to 1,500 U.S. equities and exchange-traded funds, allowing eligible users outside the United States to trade fractional positions from $1 with 24-hour settlement.

The products cover companies including Nvidia, Tesla and Apple, along with ETFs such as SPDR Gold Shares and iShares Silver Trust. Trading is available through the Crypto.com app to users in the European Economic Area and other approved jurisdictions, the exchange said.

The Tokenized Stocks are derivatives, not the underlying securities. Holders do not receive legal ownership or shareholder rights. Crypto.com said dividend-equivalent adjustments may be paid under the product terms. The structure relies on Alpaca, a U.S.-regulated self-clearing broker-dealer, to hold the supporting assets in custody. Alpaca provides infrastructure for more than 90% of the tokenized U.S. stock and ETF market, according to Crypto.com.

The products are issued by Foris Capital CY Limited, the Cyprus-based firm Crypto.com acquired in May 2025 to secure a Markets in Financial Instruments Directive license covering the European Economic Area. The exchange is offering zero-commission trading for a limited introductory period, though foreign-exchange charges or spreads may apply.

"Money never sleeps. Market access shouldn't either," co-founder and CEO Kris Marszalek said in the announcement.

Crypto.com's move pushes further beyond its core crypto exchange business as platforms compete for users who want stocks, commodities and digital assets through a single interface. The derivative structure used here is one of several models in the market. Binance's bStocks, launched in June, are backed 1:1 by underlying securities and can be converted into direct stock positions without conversion fees. Robinhood's July launch on Ethereum Layer 2 gave eligible wallet users across 120 countries access to tokenized equities through decentralized exchanges. Backpack's July offering provides direct ownership of selected equities with instant settlement.

Demand for onchain equity products has grown quickly. Data from RWA.xyz puts the tokenized stock market at roughly $2.49 billion, up about 600% from a year earlier. Citi has projected tokenized securities could reach $5.5 trillion by 2030, including about $2.6 trillion in equities.

Platforms are also expanding how tokenized stocks can be used after purchase. In July, Kraken allowed eligible users to use 10 xStocks assets as collateral for futures and margin trading on Kraken Pro. Bitget Wallet integrated more than 130 xStocks products in May, adding U.S. equities and ETFs to a self-custodial interface for crypto storage and trading.

Established U.S. securities infrastructure providers are developing their own systems alongside the crypto-native products. The Depository Trust & Clearing Corporation has been working on a regulated tokenization service. More than 50 traditional finance and crypto firms joined a DTCC industry working group in May, including BlackRock, Goldman Sachs, JPMorgan, Morgan Stanley, Circle, Robinhood, Ondo Finance, Nasdaq and NYSE Group. The Depository Trust Company received a no-action letter from the U.S. Securities and Exchange Commission in December 2025 to provide a defined tokenization service for three years. DTCC selected the Stellar public blockchain for its multi-chain strategy, with Russell 1000 stocks, major index ETFs, U.S. Treasuries and certain corporate bonds eligible for tokenization, targeting deployment by the first half of 2027.

NYSE has filed a proposed rule change with the SEC that would allow eligible tokenized securities to trade alongside traditional shares on the same exchange order book, retaining the same ticker, CUSIP, rights and privileges, with clearing through DTC.