Certificates representing certain financial instruments (ADGM FSMR). They represent an interest in underlying securities held by the issuer and are not direct ownership of the underlying shares.
- BackingStated by issuerEach token is fully backed by the corresponding underlying equity held by the issuer at a U.S.-regulated broker-dealer, with a published proof of collateral.
- Voting rightsStated by issuerEconomic exposure only; no voting rights or direct share ownership while held as a token.
- DividendsStated by issuerDividends are reinvested into additional shares after U.S. withholding tax, increasing token value via a multiplier.
- ConversionStated by issuerHolders can convert tokens 1:1 to the underlying equity on the Binance platform, where permitted by applicable law.
Must not be made available to Restricted Persons, including U.S. Persons (Regulation S).
The issuer may restrict wallet addresses at the smart-contract level for legal or sanctions reasons.
A full list of eligible jurisdictions was not found in the published documentation.
Reviewed Oct 16, 2026. Not legal advice.
—NVDAB
