Question 1

What does a permissionless receiving address mean for a tokenized stock?

Accepted Answer

Any wallet can receive and hold the token without KYC or being added to an allowlist. KYC may still apply when minting or redeeming, and legal availability still depends on your jurisdiction.

Question 2

What token standards do tokenized stocks use?

Accepted Answer

Most are ERC-20 on EVM chains or SPL Token-2022 on Solana. Dividends are usually reflected by a multiplier or rebase that raises the balance instead of paying cash, and permissioned issuers add a transfer-compliance layer on top.

Question 3

Can tokenized stocks be used in DeFi?

Accepted Answer

Permissionless tokens trade on DEXs and are accepted as lending collateral. Permissioned ones only reach venues the issuer has allowlisted, so composability is the price paid for stronger legal rights.

Question 4

Do tokenized stocks pay dividends?

Accepted Answer

Almost all pass the economics through, but few pay cash. Wrapper products reinvest the post-withholding dividend and raise a multiplier; natively registered shares pay the dividend the way the company normally does.

Question 5

Do tokenized stocks carry shareholder voting rights?

Accepted Answer

Only where the token is the registered share or a custodied entitlement — Securitize, Superstate, Coinbase, Dinari and the U.S. Ondo tier. Tracker certificates and debt-security wrappers such as xStocks, bStocks and Robinhood carry no vote.

Details	Platform / Issuer	Stocks Issued	Market Cap / TVL	Permissionless	DeFi	Dividends	Voting	Chains
	Ondo Stocks Ondo Global Markets (BVI) Ltd.	~395+	≈$858.6M	Permissionless. Yes	Usable in DeFi. Yes	Dividends passed through. Economic equivalent	No voting rights. No*	Ethereum BNB Chain Solana 3 chains
Access & Compliance A plain receiving address needs no KYC. KYC applies at mint and redeem. DeFi Availability Available across DEXs, RFQ and lending. Dividend Treatment Post-tax cash dividends buy more underlying, so the token tracks total return instead of paying cash out. Voting Caveat The international tier carries no underlying shareholder vote. The 2026 U.S. custodial tier supports Broadridge proxy voting. Token Infrastructure ERC-20 on EVM and Token-2022 on Solana, with a total-return and corporate-action mechanism.
	xStocks / Backed Assets Backed Assets (JE) Ltd.	500+ stocks; 714 with ETFs	≈$601.7M	Permissionless. Yes	Usable in DeFi. Yes	Dividends passed through. Economic equivalent	No voting rights. No	Solana Ethereum BNB Chain Arbitrum Mantle Ink TON 7 chains
	bStocks / BTECH BTech Holdings Ltd.	68	≈$582.6M	Permissionless. Yes	Usable in DeFi. Yes	Partial dividend pass-through. Economic pass-through	No voting rights. No	BNB Chain
	Securitize equities Listed issuer · Securitize Transfer Agent	3	≈$278.3M	Permissioned. No	Restricted DeFi access. Limited	Dividends passed through. Yes	Voting rights. Yes	Solana
	Superstate Opening Bell Listed issuer · Superstate Services transfer agent	5 live stocks	≈$52.9M+*	Permissioned. No	Restricted DeFi access. Limited	Dividends passed through. Yes	Voting rights. Yes	Solana Ethereum Linea 3 chains
	Robinhood Stock Tokens Robinhood Assets (Jersey) Ltd.	189	≈$39.1M	Permissionless. Yes	Usable in DeFi. Yes	Dividends passed through. Economic equivalent	No voting rights. No	Robinhood Chain
	Dinari dShares Dinari Securities, LLC	724 stocks and ETFs, mostly stocks	≈$10.1M	Conditionally permissionless. Conditional	Usable in DeFi. Yes	Dividends passed through. Yes*	Voting rights. Retained*	Ethereum Arbitrum Avalanche Base Plume HyperEVM 6 chains
	Backed legacy bTokens Backed Finance AG	~8 stock tokens	≈$8.0M	Permissionless. Yes	Usable in DeFi. Yes	Dividends passed through. Economic equivalent	No voting rights. No	Ethereum Base Polygon Avalanche 4 chains
	Coinbase Tokenized Stocks Coinbase Onchain SPV Ltd. and other ADGM entities	4 — AAPLc, NVDAc, METAc, GOOGLc	≈$7.2M	Permissionless. Yes	Usable in DeFi. Yes	Dividends passed through. Economic equivalent	Voting rights. Yes	Base
	Backpack Securities Backpack Securities · Sunrise tokenization structure	12+ and growing fast	≈$23.1M	Permissionless. Yes	Usable in DeFi. Yes	Dividends passed through. Auto-reinvested	Voting rights unclear. Conditional	Solana
	Crypto.com Tokenized Stocks Foris Capital CY Ltd. and regional entities	~1,500 stocks and ETFs; stock-only count not disclosed	Not disclosed	Permissionless. Yes	Usable in DeFi. Yes	Dividends passed through. Economic equivalent	No voting rights. No	Cronos

US Equities

Tokenized Stocks · Platform Comparison