Following the launch of Coinbase’s tokenized stock trading service and the successful rollout of the Edel Finance ($EDEL) testnet, the tokenized stock story is gaining significant momentum. Well over $1.5 million worth of simulated shares were traded in just one week after going public.
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Interest in on-chain stocks is growing among retail traders, experienced traders, and institutional investors alike due to the added value that tokenized stocks can offer compared to traditional stocks. Faster payments, greater global accessibility, increased transparency and new ways to deploy capital are reshaping the way stocks are traded and managed.
The industry is expanding not only in the number of users, but also in the range of services available. Multiple types of platforms are emerging, including exchanges that focus on access, issuers that create compliant tokenized assets, and infrastructure providers that enable lending, borrowing, and yield generation.
In this review of the best tokenization stock platforms, we will consider four of the most active platforms in this space: Edel Finance, Ondo Finance, Coinbase, and xStocks. Each plays a distinct role in the evolving tokenized equity ecosystem.
Tokenized stocks: a $30 trillion market?
There are various predictions about the future size of the tokenized asset market, with one of the most bullish predictions coming from Standard Chartered, which predicts that the valuation could reach around $30 trillion by the end of this decade. This view is based on the idea that tokenized equities offer a better experience than traditional equity models, making a widespread transition to blockchain-based solutions increasingly logical.
Stocks are considered a core real-world asset use case for blockchain due to their suitability for global demand, liquidity, faster settlement and programmable ownership.
Adoption is driven not only by increased practicality, but also by the fact that leading companies in stock trading and cryptocurrencies are actively supporting tokenized stock platforms.
Edel Finance: Trading, lending, borrowing
One of the best tokenized stock platforms for traders looking to earn yield and borrow stocks in addition to buying tokenized stocks is the Edel Finance ecosystem. DeFi-style stock trading solutions make it easy to buy tokenized stocks, lend them out for yield, or borrow against existing positions.
The testnet went live last week and within days reached an initial user limit of 3,000, which was later raised to 5,000, demonstrating strong demand for the product.
“Our broader objective is to bring the efficiency of DeFi lending to equities. Just as Aave transformed crypto lending, Edel is designed to modernize the way equity is financed, traded, and utilized on-chain.”
Andres Salterman, Edel Finance CEO
This process is already live on testnet. Users can trade mock tokenized stocks, lend and borrow within the platform, and accumulate points that are expected to be converted into rewards after the full service launches.
Lending and borrowing becomes especially powerful when combined with tokenization in Base. This improves legacy models that rely on slow and opaque intermediaries with lower fees, faster settlements, and transparent smart contracts.
At the heart of this ecosystem is the $EDEL token, providing exposure to platform growth and unlocking utility. Just as $AAVE grew with the introduction of Aave, increased activity in the Edel Finance ecosystem is likely to drive demand for $EDEL as usage expands.
Ondo Finance: Solana’s ETF in 2026
Ondo Finance ($ONDO) has been a leader in the tokenized stock market for many years. The project launched tokenized US government bonds earlier this year, and demand from institutional investors quickly emerged. Ondo also provides valuable services to other projects in this area, such as Edel Finance.
Looking ahead, Ondo plans to leverage the network’s speed, low costs, and large ecosystem to expand its footprint by launching tokenized stocks and ETFs on Solana in 2026.
$ONDO price chart. Source: CoinGecko
Despite the positive developments, $ONDO’s price has struggled, falling by around 75% this year. Still, the project’s long-term outlook remains generally bullish.
Coinbase tokenized stock launch
The Coinbase exchange has grown to become the leading centralized exchange in the US market and one of the most important players in global cryptocurrency trading. The company plans to continue its expansion across financial services as part of its goal to build an “everything app.” The latest development in this strategy is the launch of Coinbase’s tokenized stocks.
This move represents a significant moment for the tokenization market. The entry of Coinbase, with its existing huge user base, significantly increases the awareness and credibility of on-chain stocks and signals that tokenized stocks are nearing mainstream adoption.
By offering Coinbase’s tokenized stocks directly within its familiar platform, Coinbase is able to bring millions of new users into the tokenized stocks space. This influx of users is expected to accelerate industry growth and increase demand for supporting platforms and infrastructure across the tokenization ecosystem.
xStocks: The leader in on-chain stocks
xStocks has gained first-mover advantage and led the tokenization market for some time. Its services are leveraged by industry giants such as Bybit, Kraken, and Edel Finance.
The core of xStocks is to provide on-chain exposure to stock-like instruments using a DeFi-native structure. This allows users to interact with tokenized stocks without relying on traditional securities infrastructure, with a focus on accessibility and composability.
The value of xStocks is enhanced through integration with major centralized exchanges and widely used wallets such as Phantom. These integrations lower the barrier to entry and make on-chain stocks more accessible to both new and experienced users.
final thoughts
While the end of 2025 was an important time for tokenization, there is much to suggest that 2026 will have even more to offer as Edel Finance, Ondo, and Coinbase continue to expand their services. All the platforms mentioned in this article bring value to the market, but Edel Finance is perhaps the most interesting. This is because of its lending and borrowing capabilities and the possibility of gaining early exposure to projects through the $EDEL token.
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FAQ
What is the best platform to trade tokenized stocks in 2026?
The best platform for tokenized stocks in 2026 will depend on the trader’s goals. Centralized exchanges provide accessibility, while on-chain platforms offer advanced features such as lending, borrowing, and yield generation once stocks are tokenized.
Which is the best platform to earn yield on tokenized stocks?
Platforms that support on-chain lending and borrowing tend to be the best platforms to earn yield on tokenized stocks. These allow investors to earn money without having to sell their assets, unlike traditional brokerage firms, which keep most of the loan proceeds.
How should traders choose the best tokenized stock platform?
When comparing the best tokenized stock platforms, traders should consider access, security, liquidity, and available features. Some platforms prioritize ease of use, while others focus on practicalities such as collateral, yield, and capital efficiency.
