SPX, issued by NYALA Digital Asset AG and tokenized by Smart Registry GmbH, is a tokenized security providing indirect economic exposure to the common stock of SpaceX through a special-purpose-vehicle structure recorded onchain as an electronic security [S1][S2].

The token tracks Space Exploration Technologies Corp. (SpaceX) indirectly via a special-purpose-vehicle holding rather than direct share ownership, with a fixed net asset value of 856 U.S. dollars (USD) per token. If the platform structure passes through equity-style returns, holders realize value through exit scenarios such as secondary-market trading, acquisition, or follow-on financing rounds [S3]. NYALA does not publish a fixed fee schedule; pricing is package-based and may include setup, issuance, transaction, and platform usage fees [S4][S5].

NYALA Digital Asset AG is a German stock corporation based in Berlin, Germany, with crypto-securities registration performed by its subsidiary Smart Registry GmbH, a BaFin-supervised registrar [S1][S2]. The token is an electronically registered security under Germany's Electronic Securities Act (eWpG), recorded in a BaFin-supervised crypto-securities register that provides statutory eWpG protections [S6][S2]. KYC and AML verification compliant with German and European Union regulation is integrated into onboarding [S5][S7]. Custody is provided via licensed multi-signature institutional third-party custodians or investor self-custody [S5][S7]. Exit is via a developing peer-to-peer onchain secondary market rather than issuer redemption [S6][S3].

The token uses the ERC-3643 standard developed for regulated securities, with built-in whitelist management and transfer restrictions, and is issued on the Stellar network among supported networks including Polygon and Peaq [S5]. Issuance assigns an ISIN with BaFin notified of terms, and settlement is recorded immutably onchain with near-instant settlement, eliminating the central securities depository requirement [S6][S2][S4][S5].

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://www.nyala.de/en/about" },
    { id: "S2", url: "https://www.nyala.de/en/electronic-securities" },
    { id: "S3", url: "https://www.nyala.de/en/invest-digital-public-offering" },
    { id: "S4", url: "https://www.nyala.de/en/tokenization-platform" },
    { id: "S5", url: "https://www.nyala.de/en/product-features-platform" },
    { id: "S6", url: "https://www.nyala.de/en/blog/nyala-digital-asset-ag-pioneering-tokenized-stocks-in-germany" },
    { id: "S7", url: "https://www.nyala.de/en/faq" },
  ]}
/>


Tokenized stocks

NYALA tokenizes regulated securities under the German Electronic Securities Act (eWpG) and distributes them on public blockchains including Stellar and Polygon, hosting third-party issuers such as Cometum alongside its own pre-IPO equity.

NYALA Digital Asset AG is a regulated EU tokenization issuer. It powers tokenized assets such as the SpaceX Bond (SPX) and has tokenized its own pre-IPO preferred shares (NYALAVorzA).

NYALA Digital Asset AG is a German tokenization platform authorized to issue regulated tokenized securities in the European Union, covering the full lifecycle from issuance and distribution to transfers and corporate actions.

website

Real-world asset (RWA) issuers

NYALA Digital Asset AG

SpaceX Bond (Cometum) (SPX) is a tokenized exposure to SPCX issued by NYALA Digital Asset AG through Cometum Direct Invest GmbH & Co. KG and distributed through NYALA Digital Asset AG.

The token is a synthetic instrument that provides contractual exposure to the reference asset.

Holders rank as unsecured creditors of the issuer in insolvency.

Cometum Direct Invest GmbH & Co. KG is the issuing entity.

Holder terms are governed by the law of Germany.

SPX has been issued on Stellar as a Stellar classic asset token since March 2026.

SpaceX Bond (Cometum)SPX

All metrics