Wall Street Goes On-Chain: Justin Sun Brings 20 U.S. Assets to HTX, Declines to Discuss Previous SEC Case

Justin Sun has announced the launch of tokenized U.S. stock trading on HTX, bringing 20 stock- and ETF-linked assets to the cryptocurrency exchange with USDT trading pairs.

The rollout began on November 9, with products linked to major companies including Nvidia, Tesla, Circle and Strategy. The offering also includes exchange-traded funds, among them leveraged products that can amplify market movements.

The move reflects a broader effort by crypto exchanges to bring traditional financial instruments onto blockchain-based platforms. However, the tokens do not give customers direct ownership of the underlying shares, making the distinction between economic exposure and shareholder rights central to the new service.

Sun announced the launch in a post on X, following HTX's publication of its listing schedule. The announcement also came amid indications that similar stock-linked trading services were being introduced on Poloniex.

HTX lists 20 stock-linked assets against USDT

Under its November 9 listing schedule, HTX is introducing 20 tokenized assets, including SNDK, SOXL, SPCX, CRCL, MSTR, MU, TSLA, NVDA, INTC, AMD, QQQ, TQQQ and GOOGL.

The selection combines individual U.S. equities with exchange-traded funds, including leveraged instruments whose performance and risk characteristics can differ significantly from those of conventional stocks.

HTX scheduled deposits to open at 08:00 UTC on November 9. Trading in SPCX/USDT was set to begin at 09:00 UTC, followed by CRCL/USDT at 10:00 UTC. Additional trading pairs are expected to become available as liquidity develops.

Withdrawals, however, do not yet have a confirmed opening date.

The initial offering uses assets issued under the bStocks series on BNB Smart Chain. HTX has published contract addresses for the 20 supported tokens and indicated that additional issuers and blockchain networks could be introduced later.

To attract early trading activity, the exchange is waiving maker fees from November 9, 2026, through February 9, 2027. Taker fees will continue to apply during the promotional period.

Tokenized exposure does not mean share ownership

The distinction between owning a stock and holding a blockchain-based token linked to its price is important to understanding HTX's offering.

An HTX representative said the exchange initially supports 20 tokenized stocks and ETFs from the bStocks series on BNB Smart Chain, giving eligible users economic exposure to the underlying securities.

According to the exchange's listing notice, the tokens are backed by underlying securities or other eligible assets. Their custody and redemption arrangements are determined by the relevant issuer's documentation.

However, token holders do not directly own the corresponding company shares and generally do not receive shareholder voting rights. The treatment of dividends, stock splits and other corporate actions is also subject to the issuer's terms.

HTX describes the instruments as tokenized derivatives and warns that their market prices may diverge from those of the securities they track, particularly outside regular U.S. trading hours.

The exchange also uses a unified trading model under which supported tokens representing the same security can share a trading symbol, account balance and order book across different blockchain networks.

Although BNB Smart Chain is the network supported at launch, HTX said it may expand the offering to additional issuers and chains.

Crypto exchanges deepen their push into tokenized equities

HTX's launch comes as cryptocurrency platforms increasingly explore ways to bring traditional financial assets into blockchain-based trading environments.

Binance has introduced tokenized stock products linked to companies such as Nvidia and Tesla, while Kraken has expanded its stock trading services and xStocks offering in Europe.

These initiatives reflect growing interest in connecting conventional securities markets with crypto infrastructure. Tokenization can provide blockchain-based access to assets, but the rights attached to each product depend on its legal and contractual structure.

Geographic access is another important consideration. Asked about eligibility for HTX's new service, the exchange said it follows the regulatory requirements of the markets in which it operates.

HTX added that it does not provide services to users in restricted jurisdictions, in accordance with its Terms of Service and compliance policies.

The representative did not specify which countries are eligible for tokenized stock trading or explicitly confirm whether U.S. residents can access the products. HTX also did not provide further details about the assets or trading schedule on Poloniex.

HTX declines to discuss Justin Sun's previous SEC case

The launch also follows the resolution of a previous legal dispute involving Sun and the U.S. Securities and Exchange Commission.

In March 2023, the SEC filed a lawsuit against Sun and several related entities, alleging violations involving unregistered cryptocurrency offerings and wash trading.

In March 2026, the regulator announced a settlement under which its claims against Sun, the Tron Foundation and the BitTorrent Foundation were dismissed with prejudice.

A federal court entered a final judgment on March 9 requiring Rainberry, another defendant in the case, to pay a $10 million civil penalty. The defendants agreed to the resolution without admitting or denying the relevant allegations.

Separately, HTX reached an agreement in the United Kingdom in October concerning financial promotion restrictions, with certain undertakings extending until October 2031.

Asked about Sun's earlier regulatory proceedings, HTX declined to comment on legal matters or regulatory cases involving specific individuals. The exchange said it operates independently and remains focused on user asset security, market integrity and compliance across its markets.

With 20 stock-linked assets now entering its spot trading platform, HTX is adding another route for crypto users to gain exposure to traditional securities. Whether the offering attracts sustained demand will depend not only on trading access and liquidity, but also on the clarity of the rights, protections and restrictions attached to the tokens.