sEWY, issued by Stablestocks Lab Limited, is a tokenized stock that gives onchain exposure to iShares MSCI South Korea ETF, a U.S.-listed exchange-traded fund, with each token backed 1:1 by one underlying share held in custody with licensed brokers. [S1][S2]

sEWY tracks the live market price of iShares MSCI South Korea ETF (sEWY), and if the underlying issues a dividend or distribution and eligibility requirements are met, those economic rights pass through to the tokenholder, though voting rights remain with custodian holders. [S1][S2] Tokenholders may stake into StableVault to receive yield-bearing stStocks combining dividends with DeFi yields. [S3] A Service Fee of 0.1% of the transaction amount applies, alongside upstream broker and trading fees. [S4]

Stablestocks Lab Limited, brand StableStock, is incorporated in the British Virgin Islands and operates from Singapore. [S2][S5] It does not hold financial-services licenses and disclaims being a regulated entity, relying on broker-dealer partners holding an AFSL, a Hong Kong SFC Type 1 license, and U.S. MSB registration. [S5][S2][S6] An sToken is the tokenized representation of a real share; tokens are unregistered under the U.S. Securities Act and offered only to Qualified Investors through affiliated entities. [S5][S1] U.S. persons are barred and KYC and AML verification applies for leverage and IPO access. [S5][S4] Tokenholders may redeem and burn tokens at any time to retrieve the underlying share. [S1][S2]

sTokens are issued natively onchain on Bsc through a liquidity partnership with Native. [S1][S7] Tokens are minted when brokerage-held shares are deposited 1:1 and burned on redemption, with mint, burn, buy, and sell records recorded permanently onchain. [S1][S8] Stablecoin settlement in USDT and USDC funds purchases of real securities, and reserve coverage is published per asset and verified by weekly assurance reports. [S9][S8]

<Sources
  retrievedAt="2026-06-18"
  items={[
    { id: "S1", url: "https://stablestock.gitbook.io/ss/concepts/stokens" },
    { id: "S2", url: "https://stablestock.gitbook.io/ss/llms-full.txt" },
    { id: "S3", url: "https://stablestock.gitbook.io/ss/concepts/stablevault.md" },
    { id: "S4", url: "https://stablestock.gitbook.io/ss/concepts/spot/fee.md" },
    { id: "S5", url: "https://stablestock.gitbook.io/ss/legal/terms_of_use.md" },
    { id: "S6", url: "https://stablestock.gitbook.io/ss/introduction/trust-and-security.md" },
    { id: "S7", url: "https://stablestock.gitbook.io/ss/concepts/stokens.md" },
    { id: "S8", url: "https://stablestock.gitbook.io/ss/concepts/transparency" },
    { id: "S9", url: "https://stablestock.gitbook.io/ss/solution/our-model.md" },
  ]}
/>


# Asset Price methodology

## 1. Overview

Asset price represents the closing USD value of a tokenized asset at the end of each day. Daily prices are recorded to facilitate the valuation of on-chain activity and the calculation of market capitalization. Each price point reflects the market value at the conclusion of the UTC day.

## 2. Data sources

- **Asset metadata**: Token contract addresses, ticker identifiers, and on-chain launch timestamps
- **External data**: End-of-day price feeds and exchange rate feeds from market data providers
- **Blockchain data**: Data covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others) and non-EVM chains such as Solana, Aptos, and Near

## 3. Step-by-step calculation

### Component A: Market data retrieval

- **Purpose**: Collect raw daily price information
- **Logic**: Daily price data is retrieved from external market data providers. For assets pegged to specific currencies, prices are calculated using a multiplier and daily exchange rates. For assets traded on traditional exchanges where data is unavailable on certain days, such as weekends or holidays, missing values are filled with the last available closing price.

### Component B: Timestamp normalization

- **Purpose**: Align price data with daily reporting periods
- **Logic**: Timestamps are truncated to the daily grain. To accurately reflect the closing value, prices recorded at the start of a day (00:00:00 UTC) are assigned to the preceding calendar day.

### Component C: Asset mapping and deduplication

- **Purpose**: Associate prices with unique assets and resolve data overlaps
- **Logic**: Prices are mapped to assets using unique identifiers for EVM-compatible and non-EVM chains. To ensure data integrity, price records are filtered to include only those occurring on or after the asset's on-chain launch date. In instances where price data for a single asset is available from multiple sources, the data is deduplicated by selecting the record with the highest priority to ensure a single, consistent closing price.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Asset price

Tokenized stocks

StableStock earns revenue from transaction fees on sStock issuance and redemption via its StableBroker product, and from the spread between deposit/withdrawal flows. Distribution is direct-to-retail (StableBroker app) and B2B via wallet/exchange integrations on BNB Chain.

StableStock issues sStock tokens — ERC-20 tokens on BNB Chain backed 1:1 by the underlying U.S. equity or ETF held at a licensed custodian. The product catalog spans 500+ tokenized stocks and ETFs (e.g. sAAPL, sNVDA, sTSLA, sQQQ) including newly-IPO'd names like sCRCL (Circle) and sBLSH (Bullish) and leveraged/inverse exposures. All sStocks are deployed as BeaconProxy contracts from a single upgradeable factory.

StableStock is an onchain stock asset platform that lets users buy and trade U.S. stocks and ETFs using stablecoins. StableStock is the issuer of sStock tokens — tokenized representations of equities — and is backed by YZi Labs (formerly Binance Labs) among others.

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Real-world asset (RWA) issuers

StableStock

StableStock iShares MSCI South Korea ETF (sEWY) is a token tracking the underlying shares, backed by dedicated collateral with HabitTrade as broker.

Each token tracks one underlying share, entitles holders to dividends, and carries no voting rights.

Residents of the United States and Hong Kong cannot mint or redeem with StableStock.

sEWY has been issued on BNB Chain as an ERC-20 token since February 2026.

StableStock iShares MSCI South Korea ETFsEWY