What is Amazon tokenized stock (xStock) (AMZNX)?

Deep Dive

1. Purpose & value proposition

AMZNX bridges traditional finance and crypto by tokenizing Amazon shares, allowing users to gain equity exposure without brokers or market-hour limitations. It solves accessibility barriers like high minimum investments (~$223/share for traditional AMZN) by enabling fractional ownership starting at ~$1. The token’s value mirrors Amazon’s stock price, with custodians ensuring real-share backing to maintain parity (xStocks).

2. Technology & architecture

AMZNX operates on Solana and Ethereum blockchains, leveraging SPL and ERC-20 standards for speed and interoperability. This dual-chain design lets users trade on centralized exchanges (e.g., Phemex) or interact with DeFi protocols. Cross-chain expansions to BNB Chain (as BEP-20 tokens) since July 2025 enhance composability with platforms like PancakeSwap (BNB Chain).

3. Key differentiators

Unlike synthetic stock tokens (e.g., Mirror Protocol’s mAssets), AMZNX uses a “real shares + token” model for direct legal ownership. It outperforms traditional stock trading with instant settlements and 24/7 availability but faces liquidity challenges due to limited arbitrage mechanisms. Recent integrations with derivatives platforms aim to transform AMZNX into collateral for leveraged trades, addressing its historical “sleeping asset” issue (OKX).

Conclusion

AMZNX reimagines stock ownership through blockchain’s accessibility and composability, though its utility hinges on evolving DeFi integrations. Will expanding use cases like collateralization unlock deeper liquidity and close its persistent price gaps?