Tokenized Stock

Figure used its own listed-company equity to launch OPEN. FGRS is its Series A Blockchain Common Stock, with shareholder rights and whole-share conversion into Nasdaq FIGR; the new register changes settlement and lending without removing transfer-agent approval.

STRCx is a Jersey-issued debt certificate that tracks Strategy’s STRC variable-rate perpetual preferred stock. The token can move onchain, but its holder owns a collateral-backed claim against Backed Assets—not Strategy shares, votes, cash dividends or an unconditional right to take delivery of STRC.

CRCLon is a secured, limited-recourse note issued by a BVI SPV to track Circle’s NYSE-listed Class A stock. It carries redemption and collateral rights against the issuer structure, not Circle shares, votes, information rights, or delivery of the underlying stock.

BSPx is a Jersey-issued tracker certificate for the now-public Bending Spoons ordinary share. It follows BSP economically through custody and rebasing, but a wallet holder owns a limited-recourse debt claim rather than the share, its vote or a direct dividend.

CRCLB puts Circle’s stock exposure on BNB Chain through an ADGM certificate issued by BTech Holdings Limited. The token holder is not a Circle shareholder: votes stay with the custodied stock, dividends are reflected by rebasing, eligibility and blacklists constrain transfers, and a beacon owner can upgrade token logic.

SPCXB is a limited-recourse certificate issued by ADGM SPV BTech Holdings, not a SpaceX-issued token. The June 2026 prospectus identifies its backing as listed SPCX shares in Alpaca custody, while an earlier Backed/xStocks campaign for a potential SpaceX IPO was cancelled. The wrapper passes economic exposure through a controlled BNB Chain token without shareholder votes.

Tesla xStock is Backed Assets (JE) Limited's tokenized tracker certificate for the economic value of Tesla common stock. Its collateral and redemption mechanics do not make TSLAx holders Tesla shareholders.

Circle xStock (CRCLx) is a Swiss-law tracker certificate issued by a Jersey SPV and collateralized with Circle shares; its token holder is a creditor, not a Circle shareholder.

MUon places the economic return of Micron’s Nasdaq-listed MU shares into an Ondo-issued blockchain note. Its holder follows Micron’s memory and HBM cycle but does not become a Micron shareholder or receive its vote.

MSTRx is a tracker certificate issued by Backed Assets (JE) Limited and backed against Strategy shares. It follows MSTR economics but does not place its holder on Strategy’s shareholder register.

NVDAon is a token issued by Ondo Global Markets (BVI) Limited that tracks NVIDIA stock's total return. It is a claim under the issuer's structure, with after-tax dividends reinvested, not an NVIDIA share or a source of shareholder rights.

SNDKB turns a beneficial interest in issuer-held SanDisk shares into a transferable BNB Chain certificate. BTECH controls issuance and contract enforcement, while conversion into a share remains a screened Binance process rather than a right any wallet can exercise.