--- title: "Stock Tokens" type: concept tags: [stock-tokens, rwa, erc-20, rhj, erc-8056] created: 2026-09-09 updated: 2026-09-09 sources: ["raw/web_community-stock-tokens-robinhood-chain-documentation.md", "raw/web_community-building-with-stock-tokens-robinhood-chain-documentation.md", "raw/web_community-robinhood-chain-terms-of-service-robinhood-chain-documentati.md", "raw/web_community-robinhood-chain-token-contracts-robinhood-chain-documentatio.md", "raw/web_community-robinhood-tokenized-equities-chainlink-documentation.md"] confidence: medium --- # Stock Tokens This page documents what a Robinhood Stock Token is and how the instrument is structured. It is not investment, legal, tax or financial advice, and nothing here is a recommendation to acquire, dispose of, or hold any asset. All statements reflect `docs.robinhood.com/chain` **as documented on 2026-09-09**. ## What a Stock Token Legally Is The controlling sentence, reproduced verbatim from the Stock Tokens page: > "Stock Tokens are tokenised debt securities issued by Robinhood Assets (Jersey) Limited ("RHJ"). The Product provides economic exposure to underlying securities like US shares and ETFs, but does not grant investors any legal or beneficial rights in, or against the issuer of, those underlying securities." Three things follow from that sentence and must not be softened: 1. The instrument is a **debt security issued by RHJ**, not a share. 2. It provides **economic exposure** to the underlying. 3. It grants **no legal or beneficial rights** in the underlying security, and no rights against the underlying security's issuer. The docs' own disclaimer restates it and adds the risk language, again verbatim: "Stock Tokens carry a high level of risk and are not appropriate for all investors. Investors should be prepared for the possibility of losing some or all of their investment. Eligible investors should carefully review the Base Prospectus (together with any supplements) and the applicable Final Terms, available here: `http://docs.robinhood.com/rhj`" ## The Issuer "Robinhood Assets (Jersey) Limited is a private limited company incorporated in Jersey, with its registered address at First Floor, La Chasse Chambers, Ten La Chasse, St. Helier, JE2 4UE, Jersey. The Issuer is registered under the registration number 162428." RHJ is both issuer and tokenizer: "Stock Tokens are ERC-20s issued by RHJ. RHJ also acts as the tokenizer." ## Offering Restrictions These are stated in the source and are reproduced without alteration: > "Stock Tokens are not registered under U.S. securities laws and may not be offered, sold, or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, U.S. persons. Offers and sales of Stock Tokens are subject to restrictions in other jurisdictions, including, without limitation, Canada, the United Kingdom, and Switzerland." The full jurisdiction list is published at `http://docs.robinhood.com/rhj` — that document is not part of this capture. The docs also state: "Nothing on this website constitutes investment, legal, tax or financial advice. Prospective investors should make their own assessment as to the suitability of investing in the Products." ## Approved Terminology (and a Contradiction in the Docs) The Robinhood Chain Terms of Service, §5.7(j), restricts how third parties may describe these tokens: > "You must not describe, refer to, or market "Stock Tokens" (as that term is used in connection with the Robinhood Chain network) as "tokenized stocks," "tokenized equities," or similar characterizations. Approved terminology for external-facing content is "Stock Tokens" or "tokenized real-world assets such as Stock Tokens."" **This conflicts with other captured pages.** The Building with Stock Tokens page says "Tokenized stocks trade via RFQ at launch"; the Token Contracts page is headed "Stock Tokens & Tokenized ETFs"; and Chainlink's own documentation page for these feeds is titled "Robinhood Tokenized Equities" and uses the phrase "Robinhood tokenized stocks" in its opening paragraph, though its dominant term is "Robinhood tokenized equity feeds". Both wordings are reported here rather than reconciled. Separately, ToS §5.8(d) (Name and Word Mark Usage) requires the network be called exclusively "Robinhood Chain" — the shorthand "Hood Chain" is prohibited in external-facing materials. ## The Onchain Surface - "Each Stock Token is a standard ERC-20 contract with **18 decimals**." - "Each token corresponds to a specific underlying equity or ETF, identified by its ticker symbol." - "Stock Tokens are issued as standard ERC-20 tokens that can be held, transferred, and composed into applications onchain." - Chainlink's page adds the deployment shape: "Each Robinhood tokenized stock is represented by its own ERC-20 token contract, deployed on Robinhood Chain (one contract per ticker)." The Token Contracts page carries an identity warning worth quoting: "Use the addresses on this page to identify the **canonical** Robinhood Stock Token for each underlying — a token with a matching name/ticker but a different contract address is not a Robinhood Stock Token." **No Stock Token contract addresses are recoverable from this capture.** The Token Contracts table "is generated live from the on-chain asset registry" and rendered only as "Loading tokens…" when captured. The two non-stock addresses on that page did render: | Symbol | Contract | | --- | --- | | WETH | `0x0Bd7D308f8E1639FAb988df18A8011f41EAcAD73` | | USDG | `0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168` | Addresses that appear inside the Stock Token API example payloads are illustrative documentation samples, not a published address list, and are not reproduced here as canonical. Resolve a token address from the live Token Contracts page or the `/assets` API — see [stock-token-apis.md](stock-token-apis.md). ## Self-Custody, 24/7, and the Windows That Are Not 24/7 The About and Stock Tokens pages describe the asset as "**Self-custodied and 24/7** — assets live in users' wallets and are accessible around the clock." Two documented windows qualify what "around the clock" covers: ### The tokenization window "Market makers can place orders to mint and burn Stock Tokens during the following window: **Monday 02:00 CET/CEST – Saturday 02:00 CET/CEST** (Subject to local daylight savings schedules. Outside this window, minting and burning is not supported.)" Immediately followed by: "End users may still buy and sell Stock Tokens on-chain outside the tokenization window." ### Price feed sessions Chainlink's page states the feeds are "configured as 24/5 tokenized equity feeds (regular, pre-market, post-market, and overnight sessions), where underlying liquidity and session data quality support it," and that "These feeds do not have heartbeats during off-hours." So token *transferability* is continuous while token *pricing* follows a 24/5 schedule. See [oracles-and-price-feeds.md](oracles-and-price-feeds.md). ## Primary Market Is Permissioned "Only Authorised Participants (at issuance, the only Authorised Participant is BBVI) may subscribe for Stock Tokens directly from RHJ after KYB onboarding (the primary market), so developers build by composing with existing tokens rather than minting." The Building page repeats it: "Direct mint/burn is available only to Authorized Participants / market makers and requires KYB onboarding; regular holders acquire and exit positions on the secondary market." **Analysis:** the practical consequence for a developer is that there is no mint path in your integration. Every flow starts from tokens that already exist onchain. ## Corporate Actions and the Multiplier "The platform manages dividends and stock splits through an onchain multiplier, which adjusts the shares-per-token ratio while keeping your raw balance static until redemption. You can access this value via the token's `uiMultiplier()` function, defined by ERC-8056 (Scaled UI Amount Extension). Onchain swaps remain unaffected, and the oracle automatically incorporates the multiplier into the price." Stock tokens are explicitly "**not** rebasing tokens" — `balanceOf()` and `totalSupply()` stay fixed. Mechanics, interfaces and events are in [building-with-stock-tokens.md](building-with-stock-tokens.md). ## Per-Asset Trading Capabilities "Not all Stock Tokens support trading across all sessions (market hours, extended hours, overnight)." The docs direct you to `GET https://api.robinhood.com/rhj/assets` and its `tradingCapabilities` field, adding: "Developers building applications that interact with Stock Tokens should check this field before executing trades to handle assets that are not tradable in a given session." Note that the two captured pages describe `tradingCapabilities` with **two different, incompatible schemas** — see [stock-token-apis.md](stock-token-apis.md), which sets both out side by side. ## Related Concepts - [building-with-stock-tokens.md](building-with-stock-tokens.md) - [stock-token-apis.md](stock-token-apis.md) - [oracles-and-price-feeds.md](oracles-and-price-feeds.md) - [what-is-robinhood-chain.md](what-is-robinhood-chain.md) ## Sources - `raw/web_community-stock-tokens-robinhood-chain-documentation.md` - `raw/web_community-building-with-stock-tokens-robinhood-chain-documentation.md` - `raw/web_community-robinhood-chain-terms-of-service-robinhood-chain-documentati.md` - `raw/web_community-robinhood-chain-token-contracts-robinhood-chain-documentatio.md` - `raw/web_community-robinhood-tokenized-equities-chainlink-documentation.md`