Tokenized stocks

Tokens are deployed from factory contracts as 18-decimal ShareTokens on Arbitrum and whole-unit StockTokens on BSC, minted only against securities the protocol has acquired. Dividends are distributed to holders net of withholding tax rather than reinvested into the token. Offered only to non-U.S. persons under Regulation S after onboarding.

Stove Protocol issues tokenized stocks on Arbitrum One, HashKey Chain, Pharos and BSC covering companies and ETFs listed in the U.S., Hong Kong and Korea. Each token is a debt instrument that gives holders economic exposure to the underlying share, backed 1:1 by securities held with regulated brokers. Tokens carry no shareholder rights.

Stove Finance operates Stove Protocol, an onchain issuance and settlement protocol for tokenized equities. The legal entity behind the issuer is not publicly disclosed; the terms of service are governed by British Virgin Islands law.

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Real-world asset (RWA) issuers

Stove

ExlService Holdings, Inc. (Stove Tokenized Stock) (EXLSs) is a token tracking ExlService Holdings, Inc. shares, backed by dedicated collateral.

The underlying security is listed in the industrials sector in North America.

Each token tracks one underlying share, entitles holders to dividends, which are distributed in cash, and carries no voting rights.

Professional investors, accredited investors, qualified investors, and institutions worldwide can mint and redeem directly with Stove after completing KYC.

Residents of Canada, China, the United States, and jurisdictions under applicable sanctions cannot mint or redeem with Stove.

EXLSs is native to BNB Chain as an ERC-20 token.

ExlService Holdings, Inc. (Stove Tokenized Stock)EXLSs

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