Crypto.com launches tokenized stock trading for 1,500 US equities and ETFs

Crypto.com has launched tokenized stock trading for 1,500 U.S. equities and ETFs, allowing eligible European Economic Area users to trade fractional shares of companies like Tesla and Apple 24/7. The synthetic derivative products, issued by Foris Capital CY Limited and custodied with Alpaca, track prices without granting voting or ownership rights. This launch occurs amid rapid growth in the tokenized stock market, which has reached $2.49 billion, and highlights a structural debate between synthetic derivatives and asset-backed models like Dinari's dShares.

Crypto.com tokenized stock launch

• ▪Crypto.com is offering zero-commission trading on its tokenized stocks for a limited introductory period, subject to terms and conditions.
• ▪Crypto.com's tokenized stock offering allows 24/7 trading, fractional access, and fast settlement for assets including Apple, Nvidia, Tesla, SPDR Gold Shares, and iShares Silver Trust.
• ▪Crypto.com's tokenized stock trading is available to eligible users in the European Economic Area (EEA) and other approved jurisdictions globally.
• ▪Crypto.com launched tokenized stock trading on August 12, 2026, offering exposure to 1,500 U.S. equities and exchange-traded funds (ETFs) starting at $1.

Synthetic derivative structure

• ▪Holders of Crypto.com's tokenized stocks may be eligible to receive dividend-equivalent adjustments, which are not guaranteed.
• ▪Investors in Crypto.com's tokenized stocks do not acquire legal or beneficial ownership of the underlying securities, nor do they receive voting or shareholder rights.
• ▪The underlying assets supporting Crypto.com's tokenized stock products are held in custody with Alpaca, a U.S. regulated self-clearing broker-dealer.
• ▪The tokenized stock products offered by Crypto.com are synthetic derivatives issued by Foris Capital CY Limited that reference the price of the underlying assets.

Tokenized stock market growth

• ▪According to RWA.xyz data, the tokenized stock market has reached approximately $2.49 billion in value, representing a roughly 600% increase over the past year.
• ▪Citi estimated that the tokenized securities market could grow to $5.5 trillion by 2030, which includes $2.6 trillion in tokenized equities.
• ▪Alpaca holds a market share of more than 90% of the tokenized U.S. stocks and exchange-traded fund (ETF) market.

Competing tokenization models

• ▪Dinari's tokenized stocks, branded as dShares, are backed by underlying securities held in qualified custody and are designed to preserve traditional ownership rights, including voting rights and cash dividends.
• ▪Dinari launched 724 tokenized U.S. stocks and exchange-traded funds (ETFs) on August 5, 2026, allowing eligible U.S. investors and businesses to purchase them using USDC.
• ▪Dinari Securities, LLC secured a U.S. broker-dealer license from FINRA on June 20, 2025, to support its tokenized stock offerings.

MiFID licensing in Europe

• ▪Foris Capital CY Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC) under a Cypriot Investment Firm license and has passported its services to other EEA jurisdictions.
• ▪Crypto.com's tokenized stock offering builds on its May 2025 acquisition of Foris Capital, which secured a Markets in Financial Instruments Directive (MiFID) license to offer regulated financial products in Europe.

Shareholder rights debate

• ▪The expansion of tokenized stocks has highlighted a structural division between synthetic derivative models that track prices and issuer-sponsored models that put actual common shares onchain.
• ▪The debate over what tokenized stocks should represent is drawing increased attention from regulators, market infrastructure providers, and Wall Street transfer agents.