One company. Several tokens. Compared.

Every comparison site treats a tokenized share as one row. It is not. Each issuer wraps the same security in its own legal entity, jurisdiction, custody arrangement and distribution route, and those wrappers are not interchangeable — they decide what the holder actually owns.

Keeping the underlying and the instrument apart is what makes that visible. Merge them and Apple looks like one product. List them flat and Apple appears twice with no indication of how the two differ. Neither is useful; the level in between is.

The grouping is computed, not curated. Issuers identify the same security differently — Backed publishes an ISIN and a ticker, Ondo publishes only a ticker — so the link between AAPLx and AAPLon is derived from the identifiers each issuer states, and no borrowed identifier is ever written into anyone’s row.

Target investor and market are shown where the issuer names them. They describe the product, not your eligibility — who may buy is set by the issuer. Not investment advice.