What is a basket-of-stocks token?

One token, many stocks

A basket token holds tokenized shares of several companies at once, in set weights. The token’s value follows everything inside it.

Minting and redeeming

Paying USDC mints new tokens at the value of the holdings; handing tokens back redeems them for USDC at that value. Both take a small fee.

Who issues the stocks

The tokenized stocks are issued by xStocks (Backed), Backpack and Ondo, not by Koturo.

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