TOKENIZED STOCK PLATFORMS
Issuers Compared
Every platform issuing tokenized stock exposure — distributed tokens, record-layer programs and synthetic perps — ranked by live onchain value.
Value by Platform
ONCHAIN VALUE SHAREPlatforms
RANKED BY ONCHAIN VALUETOKENIZATION MODELS
Distributed tokens
Distributed platforms — xStocks, bStocks, Ondo Global Markets, Backpack Securities, PreStocks — mint transferable ERC-20 or SPL tokens that investors hold in their own wallets. Backing shares sit with regulated custodians, and the tokens circulate freely on DEXs and centralized venues.
Represented programs
Represented programs such as Robinhood's EU stock tokens use the blockchain as a record and settlement layer. Tokens exist onchain, but custody stays with the issuer rather than end-user wallets, so the value tracked is program size rather than freely circulating supply.
Synthetic exposure
Synthetic venues — Hyperliquid HIP-3 builder markets and Ondo Perps — list perpetual futures on stocks and indices. No underlying shares are held; the comparable size metric is open interest, and exposure is leveraged long/short rather than 1:1 ownership.