Unified Tokenized Stocks (Token Cổ Phiếu Hợp Nhất)
Unified Tokenized Stock is a tokenized-stock trading asset on OKX. You hold and trade the price exposure of a stock or ETF in "shares" (for example, one unit of XAAPL corresponds to the price exposure of one Apple Inc. share). Unified Tokenized Stock is backed by third-party issuers identified in the applicable Issuer Schedule. OKX acts as distributor and trading venue. It is currently backed by xStocks (Backed Assets), and OKX will progressively onboard more issuers.
Unified Tokenized Stock is not issued by OKX; the underlying tokens are issued and managed by third-party providers. It offers price exposure to a stock only, does not represent actual ownership of the underlying equity, and does not carry shareholder rights such as voting unless explicitly stated by the provider. Prices can be volatile and you may lose part or all of your funds. Please refer to OKX's product terms and each provider's official documentation.
What is Unified Tokenized Stock?
It is a tokenized-stock asset listed on OKX that tracks the price exposure of an underlying stock or ETF. The same stock may have tokenized versions from several issuers, with different token names, different shares-per-token, and different deposit networks. OKX consolidates them into one on-exchange holding measured in "shares": whichever issuer's token you deposit, you hold it as the same asset, trade it on the same order book, and it follows the same corporate-action rules. Your holding and trading experience on OKX is designed to be consistent with trading an equity — you don't need to track which issuer's token it is or how many shares one token represents.
How are the tokens named?
Unified Tokenized Stock assets are identified by an uppercase "X" prefixed to the stock ticker — for example, XAAPL for Apple, XTSLA for Tesla, XNVDA for NVIDIA — to distinguish them from traditional stocks.
Is this the same as owning the actual stock?
No. You hold a tokenized-stock product that tracks the price exposure of the underlying share. It does not confer shareholder rights such as voting, and it is not a direct holding of the security itself. The specific rights and risks are described in the product terms and each provider's official documentation.
Which provider backs it today?
The supported networks and token types depend on the applicable Issuer. Currently powered by xStocks – Payward's tokenized equity framework – each xStocks token is backed 1:1 by the underlying shares held in custody by or on behalf of the provider. OKX will progressively onboard more tokenized-equity issuers, which will be consolidated into the same holding, with no change to how you hold or trade it.
Why is my balance shown in "shares" instead of token quantity?
OKX displays your balance in shares to simplify your trading experience. On-chain, one token does not always equal exactly one share, and this differs across issuers (and changes over time to reflect events like dividends). OKX converts every issuer's token to "shares" on deposit and back to tokens on withdrawal, so that all trading, pricing, and valuation on OKX run on the same "share" basis.
Deposits & Withdrawals
Which network and token can I deposit?
Currently, xStocks tokens on Solana and Xlayer. Additional issuers or networks will be announced separately.
Why is my credited amount different from the token amount I sent?
Because one token may represent slightly more (or fewer) than one share. When you deposit, OKX converts your token amount into the equivalent number of shares and credits that. Example: if one token currently represents 1.0 share, depositing 10 tokens credits 10 shares.
What will I receive when I withdraw?
Currently, withdrawals are paid out in the xStocks token, converted from your share balance back into the corresponding token amount (net of fees).
Once more issuers are onboarded, how will withdrawal work?
The "unified" in Unified Tokenized Stock refers to unified holding, trading, and unit of measure on OKX — it does not mean you can choose to withdraw any specific issuer's token at will. Your balance is denominated in shares, converted from the applicable Issuer's tokens at the time of deposit. Where OKX supports more than one issuer, OKX will settle your withdrawal in a supported issuer's token available at the time of the withdrawal request. OKX will use reasonable efforts to accommodate a request to withdraw in a specific issuer's token, subject to availability at the relevant time.
Can you give a concrete deposit conversion example?
Yes. Each issuer's token carries a live conversion multiplier (shares represented per token), and OKX credits your deposit in shares using that multiplier. Take AAPLx as an example: with a current multiplier of 1.0026642075893797 (one AAPLx token represents ~1.00266 shares):
- Deposit 1 AAPLx → credited 1.0026642075893797 shares of XAAPL
The multiplier changes over time (e.g. to reflect dividends); the amount credited is based on the multiplier at the time of deposit.
How is the conversion done on withdrawal?
In reverse: the system converts your share balance back into tokens using the multiplier at the time of withdrawal, then sends the amount net of fees. Using the same example (multiplier 1.0026642075893797):
- Withdraw 1.0026642075893797 shares of XAAPL → 1 AAPLx (before fees)
- Withdraw 1 share of XAAPL → approximately 0.9973428684 AAPLx (before fees)
Is there a minimum withdrawal amount?
Yes. The converted token amount must meet the network and issuer minimum. Exact limits are shown on the withdrawal page.
Can I still deposit and withdraw during a dividend?
Around a dividend event, deposits, withdrawals, and internal transfers of the affected asset are briefly paused (typically minutes) so that balances can be settled at the correct post-event conversion. Trading is not paused — you can keep trading throughout. See the "Dividends" section for what happens to a deposit that arrives during the pause.
Trading
How do I trade it?
Every asset offers both trading modes at the same time: the order book (limit-order matching) and Buy / Sell / Convert (an instant quote you confirm). Choose whichever suits you. Prices are quoted per share.
When can I trade?
Unified Tokenized Stock supports 24/7 trading, all week. On weekends and outside US market hours, pricing relies on the last close plus market estimates, spreads may widen, and price-protection limits are wider.
What currency do I trade against?
Order-book pairs are quoted against USDT (e.g. XTSLA/USDT). Buy / Sell / Convert lets you buy or sell using your quote currency.
Can I use it as margin or trade it on leverage?
Single-currency leverage is not supported at this time. Some assets, once they meet liquidity requirements, can be used as collateral in multi-currency / Portfolio Margin accounts, subject to a risk-set discount (haircut). Borrowing or lending of these assets to other users is not offered at this time.
Can it be used as collateral?
Support will be rolled out progressively: selected Unified Tokenized Stock assets will become eligible as collateral in multi-currency / Portfolio Margin (PM) accounts. Eligibility and the applicable discount rate (haircut) are published on the discount rate page.
What price is used to value it as collateral?
Collateral valuation uses the same index price mechanism as the corresponding contract.
In PM mode, does it share a Risk Unit with the corresponding stock perpetual?
Not at this time. Unified Tokenized Stock spot holdings and the corresponding stock perpetual (stock perp) are currently risk-assessed in separate Risk Units, so the spot holding does not offset the perp position for margin purposes. Support for combining them into the same Risk Unit will be added later.
Dividends
How are dividends handled?
Dividends are not paid as cash. Consistent with how the supported provider handles dividends, the dividend value is reinvested at the provider level and passed on to you as a small increase in your share balance, credited in proportion to your share balance and corresponding to the actual net accrual (i.e. net of any applicable withholding taxes, as determined by the provider and applicable tax rules — OKX does not set or control withholding rates). You'll see your share balance rise slightly and receive a notification. Trading is not halted for dividends — orders, positions, liquidations, and margin all continue to operate normally.
If trading isn't paused, what exactly is paused during a dividend?
Only deposits, withdrawals, and internal transfers of the affected asset are paused, and only briefly (typically minutes). This short pause lets the system apply the dividend and settle everyone's balance at the correct post-event figure. Your ability to buy, sell, and hold is unaffected during this window.
I deposited during the dividend pause — where are my tokens?
Tokens that arrive on-chain during the pause are received but held pending, and are credited automatically after the dividend event completes, using the post-event conversion — so you receive the correct number of shares for what you sent. Your deposit page will show a "processing" status with an expected credit time. This is also why deposits are briefly paused: it ensures a deposit isn't credited at the wrong (pre-event) conversion.
Do my open orders change during a dividend?
No. Because the per-share value adjusts by only a very small amount, your open orders are not cancelled or modified during a dividend. They stay live throughout.
Will the dividend show up in my history?
Yes. The share increase is recorded as a dividend entry in your account statements, and the event appears in the asset's corporate-action history page.
Risks
What are the main risks I should understand?
- Not the underlying security. You hold a tokenized-equity product, not the share itself; no shareholder or voting rights.
- Issuer and custody risk. The backing tokens depend on their issuer(s) and custody arrangements.
- Multi-issuer exposure (as more issuers are added). Where OKX supports more than one issuer, each issuer has its own credit profile, dividend reinvestment mechanics, withholding-tax treatment, and custodian. If more than one issuer uses the same custodian, an adverse event affecting that custodian could affect multiple supported tokens simultaneously. On withdrawal, OKX settles in a supported issuer's token available at the time; you may not receive back the same issuer's token you originally deposited.
- Withdrawal availability. Withdrawal in a specific issuer's token may be limited by availability, and you may not receive back the same issuer's token you deposited.
- Price and market risk. Prices can move sharply, especially outside US market hours and on weekends, when spreads may widen.
- Securities lending. Where permitted under the applicable product terms, the issuer may lend underlying shares to third parties. When shares are lent, they are replaced by cash collateral, which may not fully reflect the value of the underlying shares at all times.
- Issuer termination. The issuer may terminate the product on notice. Please refer to the applicable product documentation for notice periods and termination mechanics. On termination, you may receive less than your investment.
Is this available in my region?
Availability depends on your region and account eligibility. Please refer to OKX's product terms and any regional notices.
This FAQ is for general information and does not constitute investment advice. The product terms and risk disclosures govern in the event of any inconsistency.
Unified Tokenized Stock is not issued by OKX; the underlying tokens are issued and managed by third-party providers. It offers price exposure to a stock only, does not represent actual ownership of the underlying equity, and does not carry shareholder rights such as voting unless explicitly stated by the provider. Prices can be volatile and you may lose part or all of your funds. Please refer to OKX's product terms and each provider's official documentation.