Do tokenized stocks pay dividends, or does the issuer keep them?
Paid out to holders: Dinari dShares. Reinvested into more tokens, no cash to the holder: Backed / xStocks. Not stated by the issuer: Ondo Global Markets, Robinhood Stock Tokens, Coinbase Tokenized Stocks.
It depends on the issuer, not on the stock. Some programmes pay dividends out in a stablecoin, some reinvest them into more tokens, and several do not say.
Figures from our live dataset · page generated 2026-10-11 · not investment advice
| Programme | Tokens | What you own | Dividends | Voting |
|---|---|---|---|---|
| Backed / xStocks | 750 | A certificate that tracks the price | Reinvested, not paid out | No |
| Dinari dShares | 721 | A receipt on shares held by a custodian | Paid out to holders | Not stated |
| Ondo Global Markets | 442 | A receipt on shares held by a custodian | Not stated | Not stated |
| Robinhood Stock Tokens | 77 | A certificate that tracks the price | Not stated | No |
| Coinbase Tokenized Stocks | 4 | A receipt on shares held by a custodian | Not stated | Not stated |
Who can buy — as each issuer states it
| Programme | Region | Investors | Status | Condition · source |
|---|---|---|---|---|
| Backed / xStocks | EU | Retail | Yes | Through the venues that list it; the token itself is freely transferable. source · 2026-09-18 |
| Backed / xStocks | UK | Retail | No | Kraken lists the UK among excluded jurisdictions, with Canada and Australia. source · 2026-09-18 |
| Backed / xStocks | US | Accredited | No | Not accessible to US persons, whatever the investor class. source · 2026-09-18 |
| Backed / xStocks | US | Retail | No | Not accessible in the US or to US persons. source · 2026-09-18 |
| Dinari dShares | US | Accredited | Yes | Same route; accreditation only needed for private, unregistered securities. source · 2026-09-18 |
| Dinari dShares | US | Retail | Yes | Dinari Trading App or partner wallets; full KYC including SSN; funded in USDC; no account minimum. source · 2026-09-18 |
| Ondo Global Markets | EU | Professional | Yes | Onboarding with KYC/KYB, wallet address registered. source · 2026-09-18 |
| Ondo Global Markets | EU | Retail | No | Not offered to EU retail investors. source · 2026-09-18 |
| Ondo Global Markets | US | Accredited | No | Same restriction; accreditation does not open the offshore programme. source · 2026-09-18 |
| Ondo Global Markets | US | Retail | No | Offshore programme for non-US persons only. A US product via Oasis Pro Markets is authorised but not live. source · 2026-09-18 |
| Robinhood Stock Tokens | US | Accredited | No | Same exclusion for all US persons. source · 2026-09-18 |
| Robinhood Stock Tokens | US | Retail | No | "May not be offered, sold or delivered … to U.S. Persons (as defined in Regulation S)." source · 2026-09-18 |
| Coinbase Tokenized Stocks | US | Retail | No | "Offered under Regulation S; only available in eligible jurisdictions outside of the US." source · 2026-09-18 |
Quoted from the issuers’ own documents on the date shown. Terms change; the issuer has the final word.
How to choose
If income matters to you, choose the issuer before the stock: the same company can pay you a dividend through one token and nothing through another. Look at what the token actually is — a tracker certificate gives price exposure only, while a token backed by shares held with a custodian is more likely to pass dividends through, usually net of withholding tax.
More questions
How many tokens does each programme offer?
Backed / xStocks: 750; Dinari dShares: 721; Ondo Global Markets: 442; Robinhood Stock Tokens: 77; Coinbase Tokenized Stocks: 4.
What do I actually own?
Backed / xStocks: a certificate that tracks the price, issued by Backed Assets (JE) Limited. Dinari dShares: a receipt on shares held by a custodian, issued by Dinari, Inc. (transfer agent) and Dinari Securities, LLC (FINRA/SIPC broker-dealer, CRD 329672). Ondo Global Markets: a receipt on shares held by a custodian, issued by Ondo Global Markets (BVI) — a separate entity from Ondo Finance. Robinhood Stock Tokens: a certificate that tracks the price. Coinbase Tokenized Stocks: a receipt on shares held by a custodian, issued by Coinbase.
Do I get voting rights?
Backed / xStocks: no; Robinhood Stock Tokens: no. The others do not say.
Where are they sold?
As the issuers name them — Backed / xStocks: Kraken, Bybit, Solana DEXs; Dinari dShares: Dinari Trading App.
Can I redeem them for the real shares?
Backed / xStocks: Backed describes redemption for onboarded, KYC-verified investors; we have not verified the terms for retail holders. Dinari dShares: platform-only. Ondo Global Markets: Onboarded investors mint and redeem with the issuer; US market hours, a subset tradable off-hours.