Crypto.com launches 1,500 tokenized stock derivatives
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- Crypto.com rolled out tokenized derivatives tracking 1,500 U.S. equities and ETFs including Apple, Nvidia, Tesla, SPDR Gold Shares and iShares Silver Trust, with positions starting at $1 and trading around the clock in the European Economic Area and other approved markets.
- The products are derivatives issued by Foris Capital CY Limited that provide synthetic price exposure: holders do not own the underlying stock, receive no voting or shareholder rights, and only get dividend-equivalent adjustments.
- Alpaca, a U.S. broker-dealer, holds the underlying assets backing the products, while the launch builds on Crypto.com's May 2025 acquisition of Foris Capital, which gave the exchange a MiFID license for regulated financial products in Europe.
- The tokenized stock market has grown roughly 600% over the past year to about $2.49 billion in value, with Citi estimating tokenized securities could reach a $5.5 trillion market by 2030, including $2.6 trillion in tokenized equities.
- Kraken, Bybit, Bitget and Robinhood are among other trading platforms that have rolled out tokenized equity products outside the U.S., while the DTCC, Nasdaq and the New York Stock Exchange have begun their own tokenization initiatives.
- Regulators and market infrastructure providers are increasingly debating what a tokenized stock should actually represent, since synthetic derivative products contrast with issuer-sponsored models that put real common shares onchain while preserving ownership and shareholder rights.
Why it matters: Retail investors outside the U.S. can now bet on Apple, Tesla or Nvidia around the clock from a $1 entry point — but they're not buying shares, they're buying a synthetic derivative with no voting rights and no claim on the company. That distinction is now at the center of a regulatory fight as the $2.49 billion tokenized stock market races toward Citi's projected $5.5 trillion future.
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