TSLAr, issued by Step Labs LLC, is a tokenized equity providing economic exposure to the price performance of Tesla, Inc. common stock (TSLA), marketed as 1:1 backed by the underlying share held through a regulated custodian [S1][S2][S3].

Each TSLAr token tracks the performance of Tesla, Inc. common stock (TSLA), allowing holders to interact with real-world stock performance onchain, with the issuer noting that the onchain price may diverge from the traditional exchange price and that arbitrage helps realign the two [S3]. The token can also be supplied to liquidity pools to earn trading fees, and is referenced within FLPr, a yield-bearing index representing tokenized stocks [S4]. The issuer markets no commissions on trades [S1].

Step Labs LLC, trading as Remora Markets, is registered in the Cook Islands (Registration Number LLC15405/2024), and its Terms of Use are governed by the laws of the Cook Islands [S5][S2]. The issuer states it is in the process of seeking regulatory authorization and licensing [S6]. Tokens are not themselves stocks and do not grant ownership or rights to underlying assets [S6]. The products are not offered or solicited in the USA or any other sanctioned or prohibited jurisdiction, and identity verification is conducted via iDenfy UAB [S6][S2]. Alpaca Securities LLC acts as custodian and broker for the underlying and as paying agent upon a Realization Event [S2].

TSLAr is issued as an SPL token on Solana, fully composable across Solana DeFi [S1]. Remora operates as the minting and burning gateway, functioning similarly to stablecoins, with USDC-to-USD conversion handled by Alpaca Crypto LLC, a FINCEN-registered MSB (NMLS # 2160858) [S1][S2]. The issuer markets instant settlement [S3].

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Tokenized stocks

Remora Markets operates by tokenizing traditional stocks into blockchain-based assets that can be traded on Solana, providing continuous market access beyond traditional trading hours. The platform leverages smart contracts for instant settlement and integrates with existing DeFi protocols to enable seamless portfolio diversification and global accessibility without geographic restrictions.

The platform enables global investors to trade tokenized versions of major public companies like Tesla, Nvidia, and SPY through blockchain technology. It offers 24/7 trading capabilities, fractional ownership, instant settlement, and commission-free transactions for traditional equities in a decentralized environment integrated with Solana's DeFi ecosystem.

Remora Markets is a decentralized financial platform that provides tokenized stock trading infrastructure on the Solana blockchain.

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Real-world asset (RWA) issuers

Remora Markets

Tesla Inc. rStock (TSLAr) is a tokenized exposure to TSLA and distributed through Step Labs LLC with Alpaca Securities LLC as broker.

The underlying security is listed in the consumer discretionary sector in North America.

The underlying shares are held by Alpaca Securities LLC.

TSLAr has been issued on Solana as a SPL Token-2022 token since August 2025.

Tesla Inc. rStockTSLAr

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