> For the complete documentation index, see [llms.txt](https://docs.anchored.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.anchored.finance/general/faqs.md).
# FAQs
#### Overview
What is Anchored?
Anchored is the digital operating layer for global capital markets, providing onchain infrastructure for tokenized real-world assets. The platform enables eligible users and distribution partners to access tokenized products such as tokenized stocks and tokenized funds, with asset backing, issuance, redemption, compliance and settlement infrastructure designed for institutional use.
What products does Anchored offer?
Anchored’s product set includes tokenized stocks and tokenized fund products. Tokenized stocks provide onchain exposure to individual listed equities and ETFs. Tokenized fund products provide onchain access to fund strategies through tokens linked to the relevant underlying fund interests. Product availability, terms and eligibility may vary by jurisdiction, partner platform and product.
Is Anchored a broker, exchange or fund manager?
Anchored is a multi-entity platform with different entities performing different roles. The group comprises a few core entities. Anchored Capital Ltd is the token issuer and operates the Anchored dApp. Anchored Finance SPC is the CIMA registered segregated portfolio company used as the underlying fund vehicle. Anchored Labs Ltd provides technology and services and operates the anchored.finance website. Anchored Advisors Ltd is a BVI FSC Approved Manager. Brokerage, custody, administration and other regulated functions may be provided by third-party service providers depending on the product.
Who can use Anchored products?
Anchored products are intended for eligible users who meet the applicable onboarding, KYC/KYB, jurisdiction and investor-eligibility requirements. Availability depends on the product, user type, distribution partner, jurisdiction and applicable legal restrictions. Anchored products are not intended to be offered where such offer or access would be unlawful.
Who is excluded from Anchored products?
Anchored products are not intended for U.S. persons or for residents of mainland China. Hong Kong, Macau and Taiwan are not within that restriction. Other eligibility restrictions can vary by product and jurisdiction, and sanctions-related exclusions apply separately.
Why does Anchored use blockchain infrastructure?
Blockchain infrastructure can make ownership records, transfers, settlement instructions and verification data more transparent and programmable. Anchored uses onchain infrastructure to support token issuance, transfer restrictions, settlement, compliance controls, proof-of-reserves / proof-of-solvency workflows and integration with partner platforms.
#### Anchored entities and operating structure
Which entity issues Anchored tokens?
Anchored Capital Ltd, a BVI-incorporated company, is the issuer of Anchored tokenized products unless a specific product document states otherwise.
What is Anchored Finance SPC?
Anchored Finance SPC is a Cayman Islands segregated portfolio company and fund vehicle. The SPC structure allows assets and liabilities of different product portfolios to be segregated from one another. This is designed so that one product portfolio is not exposed to the liabilities of another portfolio.
What is a segregated portfolio?
A segregated portfolio is a legally separated portfolio within an SPC. Assets and liabilities attributed to one segregated portfolio are intended to be ring-fenced from other segregated portfolios. Anchored uses this structure to separate product lines such as tokenized stocks and tokenized funds.
What does Anchored Labs Ltd do?
Anchored Labs Ltd provides technology and services for the Anchored platform, including infrastructure supporting token issuance, product operations and integrations, but it is not the token issuer. It also operates the anchored.finance website. The Anchored dApp is operated by Anchored Capital Ltd.
Why does Anchored use multiple entities?
Anchored uses multiple entities to separate issuance, fund management, technology services, asset-holding structures and regulatory responsibilities. This structure is intended to support risk isolation, clearer governance, compliance scoping and institutional partner requirements.
Are all Anchored entities regulated in the same way?
No. Different Anchored entities have different roles and regulatory statuses. For example, Anchored Finance SPC is a Cayman registered fund, Anchored Advisors Ltd is a BVI FSC Approved Manager, and Anchored Capital Ltd acts as the token issuer. Users should refer to the relevant product documents for the exact entity, role and regulatory status applicable to a product.
#### Tokenized stocks
What are Anchored tokenized stocks?
Anchored tokenized stocks are blockchain-based tokens designed to provide economic exposure to underlying listed stocks or ETFs. Each tokenized stock is intended to track the corresponding underlying stock or ETF, subject to the applicable product terms, fees, market conditions and legal documentation.
What do I own when I hold an Anchored tokenized stock?
A holder owns a token issued by Anchored Capital Ltd representing a beneficial entitlement, under a bare trust, to underlying fund shares, which in turn provide economic exposure to the corresponding underlying stock or ETF. Holding a tokenized stock does not generally make the holder a direct shareholder of the underlying public company and does not generally provide direct shareholder voting rights.
Are Anchored tokenized stocks backed by the underlying stock?
Anchored tokenized stocks are backed by the corresponding underlying stock or ETF. The operating model is that underlying shares are purchased through brokerage and custody arrangements and held within the relevant Anchored fund structure. The token is a receipt for a beneficial entitlement, under a bare trust, to the corresponding underlying fund shares. Token issuance occurs after execution / fill confirmation. Backing, reconciliation and proof workflows may vary by product and venue.
When are new tokenized stock tokens minted?
Tokenized stock minting is linked to execution of the underlying stock purchase. In the standard flow, user or partner proceeds are routed for execution, the underlying stock is purchased, and Anchored mints the corresponding tokenized stock after the relevant fill and authorized settlement conditions are satisfied. Unfilled orders do not result in minting, and partial fills should only mint the filled amount.
How does redemption of tokenized stocks work?
In a redemption or sell flow, the token is reserved or burned according to the applicable order and settlement process, the corresponding underlying stock is sold, and net proceeds are returned to the user in the supported payout currency, subject to fees, liquidity, market hours, partner rules and compliance checks.
Can Anchored tokenized stocks trade outside normal U.S. market hours?
Anchored offers 24/5 extended trading hours for tokenized stocks and ETFs, and tokens may also be transferable onchain or traded on supported partner platforms, depending on the chain, venue and product configuration. Primary issuance and redemption still depend on the ability to execute, settle or reconcile the underlying stock transaction through the relevant broker and market infrastructure, so they follow market hours rather than 24/5.
How is the price of an Anchored tokenized stock determined?
Pricing is generally linked to the price of the underlying stock or ETF, as sourced through the relevant broker, market-data provider or platform mechanism. Secondary-market prices may differ from the underlying reference price due to liquidity, fees, market hours, supply and demand, spreads and venue-specific conditions.
Do Anchored tokenized stocks pay dividends?
When the underlying stock pays a dividend, the economic benefit is passed through to holders in USDC, automatically and with no action required, net of taxes, fees and operational costs.
How are stock splits and other corporate actions handled?
Corporate actions such as stock splits, reverse splits, mergers or ticker changes may be reflected through token adjustments, balance adjustments, contract updates, issuer actions or other operational processes, depending on the product and chain. The objective is to preserve the intended economic exposure, but treatment may vary based on the corporate action and applicable documentation.
Do tokenized stock holders receive voting rights?
Tokenized stock holders do not receive direct voting rights in the underlying public company. The token is designed to provide economic exposure, not direct registered shareholder status.
What fees apply to tokenized stocks?
Fees may include minting, redemption, withdrawal, trading, partner-platform, spread, brokerage, custody, currency-conversion or blockchain network fees. The applicable fee schedule can vary by product, chain and distribution partner, and should be checked on the relevant live product page or order interface.
Where can users buy Anchored tokenized stocks?
Anchored tokenized stocks may be available through supported partner platforms, venues or Anchored interfaces, depending on the product, jurisdiction and user eligibility. Availability can change over time as new integrations go live.
Which blockchains support Anchored tokenized stocks?
Anchored tokenized stocks are live on Ethereum, Monad, Base and Arbitrum. Tokenized fund shares are currently available on Ethereum only.
#### Tokenized funds
What are Anchored tokenized fund products?
Anchored tokenized fund products are tokens that provide eligible users with onchain access to fund strategies. The token represents a beneficial interest or economic exposure linked to the relevant underlying fund shares held through the applicable Anchored structure.
How are tokenized fund products structured?
The typical structure is that Anchored Capital Ltd issues the token, while the relevant segregated portfolio of Anchored Finance SPC holds the corresponding underlying fund interests. This structure is intended to connect the token held by the user with the underlying fund exposure while keeping product portfolios legally segregated.
What is the difference between a tokenized stock and a tokenized fund?
A tokenized stock is designed to track a single listed stock or ETF. A tokenized fund is designed to provide exposure to a fund strategy, which may itself hold a diversified portfolio of assets or strategies. Tokenized funds often have different valuation, subscription, redemption, liquidity, notice-period and risk characteristics from tokenized stocks.
Are tokenized funds backed by underlying fund shares?
Tokenized fund products are designed to be backed by the relevant underlying fund shares or fund interests held through the corresponding Anchored structure. The exact valuation, subscription and redemption mechanics depend on the relevant fund, share class, offering documents and product terms.
How are tokenized fund prices calculated?
Tokenized fund pricing is generally based on the net asset value or price reported for the relevant underlying fund or share class, adjusted as described in the applicable product documentation. Unlike listed stocks, fund NAVs may be calculated daily, monthly or at another frequency depending on the underlying fund.
How often can users subscribe to tokenized fund products?
Subscription frequency depends on the specific tokenized fund and the underlying fund’s dealing schedule. Some fund products may permit monthly subscriptions, while others may have different dealing cycles, notice periods or cut-off dates.
How often can users redeem tokenized fund products?
Redemption frequency depends on the underlying fund and product terms. Some fund products may have quarterly redemption windows, notice periods, fund-level gates, lock-ups or delayed payout mechanics. Users should check the relevant product factsheet and offering documents before subscribing.
Are tokenized fund products as liquid as tokenized stocks?
Not necessarily. Tokenized funds may have longer subscription and redemption cycles because they depend on the valuation and liquidity terms of the underlying fund. A tokenized fund may be transferable onchain or through supported venues, but primary redemption may still be subject to fund-level dealing dates, gates, notice periods and settlement timelines.
Who manages the underlying funds used in Anchored tokenized fund products?
The underlying fund manager depends on the specific product. Anchored may provide tokenized access to a fund managed by a third-party underlying fund manager, while Anchored entities handle issuance, product structuring, platform operations or investment-management roles as applicable. Product pages should clearly distinguish the Anchored issuer / platform from any third-party underlying fund manager.
#### Asset backing, custody and verification
How does Anchored verify that tokenized products are backed?
Anchored’s architecture includes reconciliation and proof workflows intended to verify that issued tokens correspond to underlying assets or fund interests. For tokenized stocks, this can include broker/custody data and onchain supply data. For tokenized funds, this can include fund administrator, NAV and holding records. The exact verification mechanism may vary by product.
What is proof of reserves?
Proof of reserves is a verification process intended to show that issued tokens are backed by corresponding assets or interests. In Anchored’s context, proof workflows are designed to connect offchain asset records with onchain token supply so users and partners can assess whether product backing is consistent with issued tokens.
Where are the underlying assets held?
Underlying assets are held through the relevant product structure and third-party service providers. For tokenized stocks, underlying shares are purchased through brokerage infrastructure and held in custody arrangements within the relevant segregated portfolio, in the same structure used for tokenized funds. For tokenized funds, the relevant segregated portfolio holds underlying fund interests. Exact custody and service-provider details should be checked in product documentation.
What happens if there is a mismatch between tokens and underlying assets?
Anchored’s issuance, redemption and reconciliation processes are designed to prevent mismatches by linking minting and burning to underlying execution, custody and fund records. If an exception occurs, Anchored may use operational, compliance or smart-contract controls to investigate, pause, restrict or correct activity as permitted by the applicable product terms.
What happens if a broker, custodian, administrator or other service provider has an issue?
Anchored products depend on third-party providers for functions such as brokerage, custody, administration, banking, pricing, market data and blockchain infrastructure. A disruption or failure at a service provider may affect issuance, redemption, pricing, settlement, reporting or access. These risks should be reviewed in the relevant product risk disclosures.
#### Compliance, eligibility and controls
Why does Anchored require KYC/KYB?
Anchored products involve regulated financial assets and are subject to sanctions, AML, investor-eligibility and jurisdictional restrictions. KYC/KYB helps verify user identity, jurisdiction, eligibility and compliance status before access is granted.
Can Anchored restrict transfers?
Yes. Certain Anchored tokenized products may include compliance controls that restrict transfers, pause activity, freeze addresses or block prohibited transactions where required for sanctions, fraud prevention, security, policy, technical or settlement reasons. These controls are part of operating tokenized real-world assets in a compliant manner.
Are Anchored tokens securities?
The legal characterization of a token depends on the product, jurisdiction and applicable documentation. Anchored products provide exposure to financial assets and may be subject to securities, funds, derivatives, financial-promotion, AML or other regulatory requirements. Users should rely on the relevant offering documents and obtain professional advice where needed.
Is this investment advice?
No. Website and FAQ content is for general informational purposes only and should not be treated as investment, legal, tax or accounting advice. Users should assess the relevant risks and consult professional advisers before investing.
What jurisdictions does Anchored operate in?
Anchored uses a multi-jurisdictional structure, including BVI and Cayman entities, with additional jurisdictional initiatives in progress or planned. Entity roles and regulatory status differ by jurisdiction and should not be generalized across the group.
Can anyone integrate Anchored products into an exchange, wallet or dapp?
Integrations are subject to Anchored’s technical, legal, compliance and commercial review. Partners may need to satisfy requirements relating to user eligibility, KYC/KYB, jurisdictional controls, order routing, custody, disclosures, data reporting and ongoing monitoring.
#### Risks and user responsibilities
What are the main risks of Anchored tokenized products?
Risks may include market risk, liquidity risk, tracking error, valuation risk, fund-gating risk, redemption delays, counterparty risk, custody risk, smart-contract risk, blockchain network risk, regulatory risk, tax risk, and risks arising from third-party service providers. Product-specific risks are described in the relevant offering documents and disclosures.
Can the value of Anchored tokens go down?
Yes. Anchored tokens are linked to financial assets whose value can rise or fall. Users may lose some or all of the amount invested.
Are returns guaranteed?
No. Anchored does not guarantee returns. Past performance of an underlying stock, ETF, fund or strategy is not a reliable indicator of future results.
What should users review before buying an Anchored product?
Users should review the product page, factsheet, fee schedule, risk disclosures, offering documents, eligibility requirements, redemption terms, supported chains, service-provider information and any jurisdiction-specific restrictions before investing.
Where can users get official information?
Users should rely on official Anchored websites, dapp pages, product documentation, factsheets, partner-platform disclosures and direct communications from Anchored or approved distribution partners. Users should be cautious of unofficial links, impersonators and third-party summaries.