Onchain Home / Ondo Global Markets vs xStocks
Ondo Global Markets vs xStocks
Two ways to hold tokenized US stocks. The answer depends on where your funds are and what you want to do with the tokens.
Method: observed. Routes opened and quotes observed by us, with dated screenshots. No transaction made.
Our verdict by need
Your funds are already on a network
Depends on the network
Solana: both, on Jupiter, observed for Apple, NVIDIA, Tesla and the S&P 500 ETF. Ethereum: AAPLon on Uniswap and AAPLx on CoW Swap (Apple only; the quotes are shown on each route, not compared as cheaper). TON or Mantle: xStocks only in our data.
Observed on Jupiter for AAPLx, AAPLon, NVDAx, NVDAon, TSLAx, TSLAon, SPYx and SPYon on Sep 28, 2026, from Mauritius, without a wallet. A quote does not confirm access from your country. Other networks were not observed for NVDA, TSLA and SPY.
AAPLx on JupiterAAPLon on JupiterAAPLon on UniswapAAPLx on CoW Swap
You want to keep the tokens in your own wallet
Both
Both have wallet routes that deliver to your wallet.
Documentary.
You are a retail investor in the EEA
Check before buying
xStocks is offered in the EEA under an approved prospectus. For Ondo, sources disagree on retail access.
Documentary.
The number of venues listed for each program does not show liquidity, or that a given token can be sold.
| Question | Ondo Global Markets | xStocks |
|---|---|---|
| Your funds are already on a network | BNB Chain, Ethereum, Solana | BNB Chain, Ethereum, Mantle, Solana, TON |
| Keeping the tokens in your own wallet | Depends on the route25 of 26 routes end in your wallet | Depends on the route34 of 48 routes end in your wallet |
| Where you can buy and sell | 8 venues: Ondo (direct mint/redeem), Binance Alpha / Binance Wallet, Uniswap, PancakeSwap, 1inch, Jupiter +2 | 16 venues: Kraken, Bybit, Gate, Bitget, Jupiter, Raydium +10 |
| Known costs | Ondo (direct mint/redeem):
Documented fee only. Spreads, network and deposit costs can still apply. Ondo (direct mint/redeem):
Documented fee only. Spreads, network and deposit costs can still apply. Ondo (direct mint/redeem):
Ondo (direct mint/redeem):
Documented fee only. Spreads, network and deposit costs can still apply. | Kraken:
Documented fee only. Spreads, network and deposit costs can still apply. Bitget:
Kraken:
Documented fee only. Spreads, network and deposit costs can still apply. Bitget:
Kraken:
Documented fee only. Spreads, network and deposit costs can still apply. Kraken:
Documented fee only. Spreads, network and deposit costs can still apply. |
| What you hold and your rights | Secured creditor of the issuerSecured creditor (noteholder), not a shareholder: no voting, information or shareholder rights.Dividends: Reinvested automatically net of withholding tax; each token can represent more than one share over time (total return tracker). | Creditor of the issuerCreditor of the issuer: no shareholder rights (no voting, no attendance at meetings, no direct dividend right) and no claim on the underlying shares.Dividends: Accumulated net of taxes and reflected in the reference value by Rebasing (reinvestment). |
| Countries excluded by the issuer | Excludes Afghanistan, Belarus, Canada, Cuba, North Korea, Iran, Libya, Myanmar (Burma), Russia, Somalia, South Sudan, Sudan, Syria, United States | Excludes United States, United Kingdom, Canada, Australia, North Korea, Syria, Iran |