Frequently asked questions

Treasures is the simplest way to own tokenized stocks. Treasures lets you buy real-world stocks and commodities with stablecoins, running on blockchain infrastructure but without any blockchain complexity. Want one share of Apple? We scan every major tokenizer (Ondo, xStocks and more) across chains and identify where you get the most Apple per dollar. Built for both humans (through our web portal) and AI agents (through our API), Treasures is the simplest way for anyone, anywhere, to access capital markets on-chain.

You absolutely can go direct but Treasures gives you:

1. 1The largest range of equities onchain due to our unification across multiple tokenizers
2. 2Intelligent routing across multiple tokenizers and blockchains to seek cost efficient and competitive rates
3. 3Curated, verified contract addresses to reduce and minimise the chances of you accidentally buying a copycat token
4. 4Ability to trade in units of shares instead of tokens – with all dividend and corporate exercise complexity abstracted away
5. 5Best-in-class non-custodial infrastructure, portfolio tracker, P&L analytics, and news feed
6. 6A host of products that will improve your experience significantly – coming soon.

Treasures currently supports Solana, Ethereum and Robinhood - three of the chains with the deepest on-chain liquidity for tokenized stocks. We support Ondo, xStocks and Robinhood as three of the leading tokenizers with the longest track record, deepest liquidity, and most institutional backing. We will continuously monitor the ecosystem and will expand support as the market matures.

Tokenised stocks are digital tokens on a blockchain that are designed to track the value of real-world listed shares. Every tokenized stock on Treasures is issued by third-party issuers and is backed by underlying real shares held through custodial arrangements. These issuers acquire and hold the underlying shares and mint corresponding tokens onchain, such that the value of the tokens is fully backed by the value of the shares.

Different chains and liquidity providers have very different depth profiles depending on the day and time. For a certain stock, Ethereum pools may offer tighter spreads; for others, Solana AMMs tend to carry the majority of active liquidity. By routing intelligently across chains in real time, we seek the most cost efficient and competitive route - 24/7.

With both Ondo and xStocks, dividends are not distributed as cash - they are used to purchase additional underlying shares and place them in custody. As a result, each token no longer represents exactly 1 underlying share, but slightly more (e.g. 1 AAPLon might represent 1.01 actual AAPL after dividend accrual). In Treasures, you may see your tokenized share balance (displayed in terms of units of underlying stock) increase automatically after each dividend event. Dividend treatment ultimately depends on Ondo and xStock’s terms, conditions and policies which we have no control over, but which will be reflected on our platform.

Absolutely. Treasures is fully non-custodial. Your wallet is generated locally and only you hold the private keys - we never have access to them. The tokens are stored directly in your wallet on Solana or EVM. You can export your private key at any time and access your holdings through any compatible wallet (e.g. Phantom, MetaMask). Treasures is purely an interface layer - we never touch your assets.

The reason we operate dedicated multi-chain wallets under a single account umbrella is that seeking the most cost efficient and competitive prices sometimes requires bridging assets across chains or performing intermediate swaps to access the deepest liquidity pools. That requires a set of programmable wallets across multiple chains (e.g. Ethereum and Solana) that can act atomically. Importantly, your Treasures Wallet is fully non-custodial: keys are generated locally in your browser and never held or transmitted by Treasures. You can export your private key at any time.

Your Treasures Wallet operates natively on Solana and Ethereum. It is generated in-browser using industry-standard BIP39/BIP44 key derivation. Your private key is never transmitted to Treasures servers. We strongly recommend enabling 2FA in your profile settings and backing up your private key in a secure offline location.

We compare and optimise across the biggest sources of potential value loss: price per underlying share, DEX swap fees, and bridging costs. Our routing engine evaluates all available tokenizer-blockchain combinations in real time, to the extent reasonably possible, to seek the best available price among supported routes, subject to routing risks described in our Terms of Use. For the avoidance of doubt, we are unable to guarantee that the prices shown will always be the best available.

Treasures integrates with leading decentralized exchanges – such as Jupiter (Solana) and 1inch (Ethereum) – and runs an intelligent routing engine to seek the best price and deepest liquidity across all available pools at the moment of your order. We never hold your tokens; when you initiate a swap transaction through our interface, the transaction is routed to the supported DEXs for execution directly from your self-custodial wallet.

We do not optimise for partial fills yet - this is on our roadmap. For buys, to the extent reasonably possible, we identify a single venue with the most competitive pricing to execute the full desired amount. For sells, we use our best efforts to optimise across all your tokenizer-blockchain holdings by prioritising the most cost-efficient tokenizer-blockchain combination first, filling as much as possible there, then moving to the next most cost-efficient option until the full order is filled. The execution of buy and sell orders would still be subject to routing risks described in our Terms of Use.

You have two options:

1. 1Sell on the secondary market (more time efficient): Treasures routes your sell order to the deepest liquidity pools across Jupiter and 1inch. We only curate stocks with sufficiently mature secondary markets so that we can try and help you find an available market and liquidity, but please note that liquidity can vary across said markets and we do not have control over that. This is much faster compared to option 2 below and requires no KYC.
2. 2Direct redemption: Since the tokens sit in your own wallet, you can visit Ondo.finance or app.backed.fi to redeem your tokens for actual shares or USD. Note this requires you to export your private keys, and will require KYC which may take 1–3 business days and is subject to the relevant issuer’s terms, conditions and processes.

Small deviations occur due to differences in market hours, liquidity depth, and settlement mechanisms between traditional exchanges and DeFi pools. Traditional markets close over the weekend; DeFi pools are available for trading 24/7. Prices are kept broadly in sync via arbitrageurs and RFQ systems, but during off-hours or low-liquidity periods, small spreads can emerge (typically < 0.1%). This is the tradeoff for 24/7 availability.

Treasures displays all balances in units of the underlying stock (e.g. AAPL shares), not raw token units (e.g. AAPLon). This is because some tokenised stock issuers apply adjustment mechanics, such as rebasing or scaling factors, which may cause one token unit to represent more or less than one unit of economic exposure to the underlying share over time. To provide a clearer view, Treasures applies a scaling factor to convert your token balance into the equivalent number of the actual shares your tokenized stock holdings represent. This is a cosmetic normalisation - your total holdings value is identical before and after this conversion. It simply removes tokenizer-specific nuances and gives you a clean, comparable view across different issuers.

It’s really simple. You can install our ready-made skill to have your agent trading in minutes, or point it straight at our docs and call the API directly. Either way, your agent gets everything it needs to discover tokenized stocks, get the best quote, execute trades and read its portfolio, all settled in stablecoins. Head to docs.treasures.io to get started.

Treasures has not deployed any new smart contracts of its own. We rely on battle-tested, audited infrastructure: Privy for wallet authentication and leading DEX aggregators such as Jupiter and 1inch for execution - all of which have undergone independent security audits. If we introduce features that require novel smart contracts in the future, we are committed to engaging top-tier smart contract auditors before deployment.

Tokenized stocks, such as those issued by Ondo (BVI) and xStocks (Jersey), are digital tokens: once in secondary circulation on a public blockchain, holding and trading them on decentralized platforms requires no identity verification - exactly like holding USDC or ETH in self-custodial wallets. KYC is only required at redemption, i.e. converting tokens back into shares or USD via the issuer. Practically, trading on the secondary market (buying and selling through our partner DEXs) is entirely permissionless.

Please note: Treasures is not available to U.S. citizens or residents, or to citizens or residents of certain other countries listed in our Terms of Use. Your access to the platform is governed at all times by those Terms. Tokenized stocks issued by Ondo and xStocks are also subject to each issuer’s own terms, conditions and policies.

This depends on the laws of your jurisdiction, and you are solely responsible for determining whether buying and holding tokenized stocks is permitted where you are located or tax resident.

Tokenized stocks issued by entities incorporated in the BVI (Ondo) and Jersey (xStocks) and subsequently sold into decentralized markets function as digital tokens - specifically transferable digital assets whose ownership is established by possession of the private key. Operationally, the secondary transfers of these assets are permissionless. KYC only applies at the primary issuance (minting) or redemption stage.

Our platform is not available to certain users, such as citizens or residents of the United States (see our Terms of Use for the full list). If you are unsure whether you are permitted to buy, hold or trade tokenized stocks in your jurisdiction, you should seek independent legal advice before using our platform.

No. Our platform provides a technical interface that integrates with leading DEXs such as Jupiter (Solana) and 1inch (Ethereum). When you initiate a swap transaction through our interface, the transaction is routed to the supported DEXs for execution directly from your self-custodial wallet. We do not solicit, recommend, or execute transactions, and we do not take custody of your assets at any point.

We believe in radical transparency. Key risks include:

1. 1Smart contract risk: On-chain code may have bugs - both Ondo and xStocks undergo independent audits, reducing but not eliminating this risk
2. 2Liquidity risk: For less-traded tokenized stocks, spreads can widen, especially on weekends
3. 3Regulatory risk: The regulatory landscape for tokenized securities is evolving. Adverse regulation in your jurisdiction could affect your ability to hold or sell
4. 4Custodian risk: While custody is ring-fenced, extreme events (e.g. custodian insolvency) could delay - but not eliminate - access to underlying assets
5. 5Private key risk: If you lose your private key with no backup, your assets cannot be recovered by anyone, including Treasures

Please review and consider each of the risks disclosed and set out in our Terms of Use before using our platform. To be clear, the risks disclosed in our Terms of Use are not exhaustive, and you are strongly recommended to consult your own professional advisors and do your own research before using our platform.