The hottest market follows the sun. As Seoul hands off to Taipei, Hong Kong, then New York, tokenized rails bridge every gap 24/7. Below is the clock — and the rails that are open right now, even when the floors are dark.
Why perps first: pooled liquidity makes the price trustworthy — spot tokenized stocks are scattered thin across many venues, so we map them below; we don't chart them.
Samsung and SK Hynix trade 24/7 as leveraged perpetuals offshore — right now, with real volume. Lens #1.
Hyundai and the KOSPI 200 lead a region priced 24/7 — Alibaba, the Nikkei, and Korea/Japan index ETFs alongside.
The AI giants you can't buy at your broker — priced as pre-IPO perpetuals on rails we already scan.
Tesla and Apple trade 24/7 alongside the frontier private giants — SpaceX and MAG7 peers stay listed but dormant, so we price only what's live.
Korea as a full Local Market instance. Until the market-config lands here, the Kimchi Observatory is today's Korea lens.
TSMC at the center of the world's chip supply — the next Local Market instance once the scanner runs its rails.
Discipline: an instance goes LIVE only when the scanner actually prices it. Dashed cards are planned, not shells — no fake data.
| Venue | Form | Backing | Notable listings | Hours | Confidence | Src |
|---|---|---|---|---|---|---|
| Hyperliquid — trade.xyz (HIP-3 dex 'xyz') | perp | Native HIP-3 builder-deployed synthetic perp market (HYPE-staked deployer; no share backing) | SMSN, SKHX, HYUNDAI, NVDA, TSM, AAPL +4 more | 24/7 | verified | ↗1↗2↗3 |
| Hyperliquid — 'para' HIP-3 dex | perp | Native HIP-3 builder-deployed synthetic perp market | AVGO, COHR, LRCX | 24/7 | verified | ↗ |
| Hyperliquid — Ventuals (HIP-3) | perp (pre-IPO / private-company valuations) | Native HIP-3 synthetic perps on private company valuations (vHYPE deposit vault to meet HYPE stake requirement) | — | 24/7 | reported | ↗ |
| Aster | perp | Synthetic USDT-settled stock perps; index price from multiple providers incl. Pyth oracle | AAPL, AMZN, GOOG, META, MSFT, NVDA +1 more | 24/7 (EWMA-smoothed pricing mode overnight/weekends/holidays) | verified | ↗1↗2 |
| Ostium (Arbitrum) | perp | Synthetic RWA perps; equity perps powered by Nasdaq market data (first onchain venue, May 2026) | — | 24/7 platform; single-stock perp session behavior not confirmed from official docs | verified | ↗1↗2 |
| Helix (Injective) | perp (pre-IPO + iAssets equities) | Synthetic iAssets / pre-IPO perpetual framework on Injective orderbook | OPENAI (pre-IPO), SPACEX (pre-IPO), ANTHROPIC (pre-IPO), NVDA-H100 (GPU rental rate perp) | 24/7/365 (iAssets keep trading even when mark price is not updating) | verified | ↗1↗2↗3 |
| Kraken | spot (tokenized) | xStocks issued by Backed Assets (JE) Limited — 1:1 backed, bankruptcy-remote custodian; Backed acquired by Kraken group Dec 2025. Offered via Payward Digital Solutions Ltd (Bermuda-licensed) | 100 U.S. stocks & ETFs (targeting 500+ by end-2026) | 24/7 (xStocks standard; tokens also live onchain on Solana) | verified | ↗1↗2 |
| Bybit | spot (tokenized) + separate CFD/perp routes | Backed xStocks (1:1 backed tokenized assets, not derivatives), USDT-settled | AAPLx, TSLAx, GOOGLx, and other Magnificent-7 xStocks | 24/7 | verified | ↗1↗2 |
| Gate | spot + futures (tokenized) | xStocks (Backed) section, plus own gStocks section for tokenized securities incl. private names | COINX, NVDAX, CRCLX, AAPLX, METAX, HOODX +4 more | 24/7 | verified | ↗1↗2 |
| MEXC | spot (tokenized) | Ondo-issued tokenized stocks (1:1 backed via Ondo Global Markets), USDT pairs | SK Hynix (Ondo, added 2026-07-13), Bloom Energy, Astera Labs, Credo Technology, Celestica, Innodata +1 more | 24/7 | verified | ↗1↗2 |
| Crypto.com | spot (tokenized) | Fully backed by actual shares held in regulated U.S. custodial accounts (per company statements) | Fractional U.S. equities from $1 (specific tickers not sourced) | 24/7 incl. weekends | reported | ↗1↗2 |
| Ondo Global Markets / 'Ondo Stocks' (issuer + onchain) | spot (tokenized, issuer platform) | 1:1 backed by U.S. stocks/ETFs held at U.S.-registered broker-dealers; independent Security Agent holds first-priority security interest | 430+ stocks & ETFs incl. AAPLon, IonQ, Global X Robotics & AI ETF, BlackRock active ETFs | Transfers 24/7/365; mint/redeem aligned to market hours (24/5) | verified | ↗1↗2 |
| Robinhood (EU app + Robinhood Chain) | spot (tokenized, own-issue) | New-gen Stock Tokens = debt securities (no shareholder rights), issued under MiFID II by Robinhood Europe UAB (Lithuania; MiFID II + MiCA licensed), underlying custodied at U.S. broker-dealer. Classic Stock Tokens (2,000+ names) structured as derivatives | 200+ tokenized U.S. stocks & ETFs (new-gen), 2,000+ classic stock tokens | 24/7-oriented via Robinhood Chain (Arbitrum Orbit L2); app trading originally 24/5 | verified | ↗1↗2 |
| Gemini (EU) | spot (tokenized) | Dinari dShares — unleveraged OTC derivative products backed 1:1 by real shares in custody; issued by Dinari Inc (U.S. SEC-registered transfer agent). Distributed by Gemini EU (Malta MFSA-regulated) | MSTR (first listing), AVGO, BLK, 100+ stocks total, new adds weekly | Around the clock | verified | ↗1↗2 |
| Dinari Financial Network (issuer/network layer) | spot (tokenized, issuer infrastructure) | dShares backed 1:1 by underlying U.S. equity with same economic rights where permitted; regulated custodian; SEC-registered transfer agent | 200+ tokenized U.S. equities | 24/7 trading from Q1 2026 (Flow Traders partnership) | verified | ↗ |
| Coinbase (planned) | spot (tokenized) — NOT YET LIVE | Planned 1:1-backed tokenized U.S. stocks with genuine equity ownership, on-chain dividends and full shareholder rights; options on crypto and equities also planned | — | TBD (currently live product is traditional 24/5 U.S. stock trading via Apex Fintech, zero commission — not tokenized) | reported | ↗1↗2↗3 |
| 360X (Deutsche Börse-backed, EU-regulated) | spot (tokenized) | Backed xStocks traded on EU-regulated venue | — | Not sourced | reported | ↗ |
Venues checked but unverifiable are excluded by policy — provenance-or-nothing. Sources: official venue/issuer pages; “reported” rows rest on secondary coverage only. Not investment advice.
Availability of these products varies by jurisdiction. It is your responsibility to confirm that a product is permitted in your country of residence before using it. This page is not investment advice and not legal advice. NightWatch prices these markets for information only and does not solicit or facilitate trades in any restricted jurisdiction.
| Venue | Restricted (per public ToS) | Source |
|---|---|---|
| Hyperliquid | US persons (perps); front-end geo-blocks restricted jurisdictions. Non-custodial DEX; the protocol is on-chain, the front-end enforces the geo-block. | hyperliquid.gitbook.io — Terms |
| VQ | US persons; certain products limited by region. xStocks / pre-IPO perps availability varies by residency. | venue user agreement |
| GN | US persons; other jurisdictions per local terms. Operates a separate US entity; equity-linked products not offered everywhere. | venue terms of use |
| DL | US persons; other restricted jurisdictions per terms. Dated equity futures / stock perps availability varies by residency. | venue terms of service |
| QK | US persons; UK promotions restricted; other jurisdictions per terms. Stock / pre-IPO perps availability varies by residency. | venue terms of service |
| YZ | US persons; other restricted jurisdictions per terms. Derivatives availability varies by residency. | venue terms of use |
| WV | US persons; Ontario (Canada); other jurisdictions per terms. Stock / pre-IPO perps availability varies by residency. | venue terms of service |
| VK | US persons; Canada / UK limited; other jurisdictions per terms. Index / pre-IPO perps availability varies by residency. | venue user agreement |