Crypto.com has launched Tokenized Stocks, giving eligible users exposure to U.S. equities and exchange-traded funds through its mobile app.
The cryptocurrency platform initially offers products tracking 1,500 underlying stocks and funds, with investments starting from USD$1, according to a Wednesday press release.
The service is available to eligible users in the European Economic Area and several other approved jurisdictions globally. Additionally, users can trade the products around the clock instead of waiting for traditional U.S. stock market hours.
The initial lineup includes products tracking Nvidia Corp (NASDAQ: NVDA), Tesla Inc. (NASDAQ: TSLA) and Apple Inc. (NASDAQ: AAPL). Users can also gain exposure to commodity-focused funds, including the SPDR Gold Shares ETF (NYSEARCA: GLD) and iShares Silver Trust (NYSEARCA: SLV).
Tokenized stocks differ from conventional shares because investors do not directly own the companies or funds that the products track.
Instead, the derivative instruments aim to mirror price movements in their underlying stocks or ETFs. Consequently, holders do not receive voting rights or other shareholder privileges associated with direct ownership.
However, eligible users may receive adjustments designed to reflect dividend payments made by the underlying companies. The platform also allows fractional exposure, letting investors put smaller amounts into stocks that may carry high individual share prices.
In addition, Crypto.com said the service provides fast settlement and uses its existing liquidity and trade execution infrastructure. The assets supporting the tokenized products are held in custody through Alpaca, a U.S.-regulated self-clearing broker-dealer.
Alpaca provides infrastructure supporting more than 90 per cent of the tokenized U.S. stock and ETF market, according to Crypto.com.
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Products are designed to combine traditional market exposure
Furthermore, Crypto.com chief executive Kris Marszalek described the launch as an expansion of the company’s growing multi-asset financial ecosystem. He said the company wants to provide flexible access to U.S. equities without restricting users to conventional market schedules.
The products are designed to combine traditional market exposure with the continuous trading model commonly associated with cryptocurrency markets. Meanwhile, the 24/7 structure lets users trade during evenings, weekends and other periods when conventional U.S. equity markets remain closed.
Traditional U.S. exchanges generally restrict normal stock trading to established weekday sessions, although brokers increasingly offer extended-hours services. Crypto.com said its tokenized approach combines fractional investing, continuous access and blockchain-based infrastructure within its existing application.
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