Tokenised shares
A tokenised share is a company share recorded not at a central securities depository but as a token on a blockchain.
Explained simply
Anyone buying a share today owns no certificate but a record: the bank keeps it in the brokerage account, behind that sits a central securities depository. Trading happens on weekdays during exchange hours and settlement takes one to two days.
With a tokenised share the same record sits on a blockchain. Whoever holds the token holds the share. Transfers happen directly between two parties, around the clock, and settlement occurs at the moment of the trade.
What matters is what stands behind the token. Some tokens are backed by a real share including dividend and voting rights. Others merely track the price without anyone holding the share. Legally and economically those are entirely different things.
From the familiar world
The principle is familiar from depositary receipts: anyone wanting to buy a US share in Europe often bought a certificate issued by a bank that held the original. With tokenised shares a blockchain takes the role of the register, and the trading venue is open around the clock.
An example
In September 2026 the US Securities and Exchange Commission permitted trading of tokenised US shares on public blockchains for an initial five years. The conditions: the token must carry the same rights as the share, only vetted participants may trade, and only a fraction of normal daily volume may pass through this route per share. Tokens that merely track a price are explicitly excluded.
Why it matters
Three things change for investors: round-the-clock trading, settlement in seconds rather than days, and the ability to buy fractions. Open questions remain around liability, around exercising voting rights from a wallet, and around whether a company can object to its own share being tokenised.
To pass on
„Tokenised shares are the same shares on new rails. The value stays, the dividend stays. What changes is opening hours, settlement time and lot size.“
The content of this wiki is for general information and educational purposes only. It does not constitute investment advice, an investment recommendation or tax or legal advice. Digital assets are subject to strong price fluctuations and can lead to losses up to a total loss. Content as of 2026, no guarantee of completeness or timeliness.
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