True Markets has launched an on-chain orderbook for tokenized equities, starting with Nvidia against USDC.

The DeFi Orderbook is designed to address pricing and execution issues in 24/7 markets. The first market, NVDAc/USDC, is available to beta clients through the company’s APIs and FIX gateway.

London's trading industry is coming home!

The launch comes as tokenized equities expand into round-the-clock trading. Finance Magnates reported in January that tokenized stocks were creating a parallel market for equities, while NYSE has been developing a tokenized securities venue with 24-hour trading. Alpaca has also launched infrastructure for 24/7 tokenized US stocks, with a model designed to keep the tokens aligned with their underlying assets.

True Markets Targets Tokenized Equity Slippage

True Markets said continuous trading can cause tokenized securities to move away from their underlying assets. It calls this “unanchored pricing.”

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“If you buy tokenized Nvidia, you should get Nvidia prices,” said Vishal Gupta, Co-Founder and CEO of True Markets. He said market orders worth a few hundred dollars can incur more than 100 basis points in slippage Slippage In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price Read this Term on some AMM pools.

The orderbook provides price protection, limit orders, best execution reporting and price improvement.

True Markets said more orderbooks will follow. Tokenized equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term are available to eligible clients outside the United States.

Kraken Adds Tokenized Stocks

Other platforms have also expanded tokenized equity offerings outside the US. In May 2025, Kraken announced plans to offer more than 50 tokenized US stocks and ETFs, including Nvidia, to clients in selected non-US jurisdictions. In September 2026, Kraken introduced DeFi yield products linked to tokenized Nvidia and other xStocks.