EQX Labs Launches Zero-Fee Tokenized US Stocks on Hyperliquid

EQX Labs is launching tokenized U.S. stocks and exchange-traded funds on the Hyperliquid decentralized exchange, eliminating issuer fees for traders. The initiative aims to position Hyperliquid as a primary marketplace for U.S. equities by offering digital assets that track real share prices around the clock.

According to a report by Crowdfund Insider, the rollout will include tokens representing shares of Apple, Nvidia, Tesla, and SpaceX, alongside funds tracking the S&P 500 and Nasdaq 100 indices. EQX stated in a recent post on X that cost structure is its primary competitive advantage. Traders will pay only the standard Hyperliquid trading fee, while EQX generates revenue from a share of that fee. The company asserts there are no charges for creating, redeeming, or holding the tokens, and no deduction from dividends.

EQX criticizes competitors for adding extra costs to the trading process. Rivals currently active on Hyperliquid include xStocks, from Payward, the parent company of Kraken, which entered the platform in August. Dinari is another competitor, having launched a SpaceX token in June. EQX argues that these issuers stack fees on top of existing trading costs.

Each token issued by EQX is backed by real shares held by U.S. brokerages Alpaca Securities, StoneX Financial, and Clear Street. A public dashboard will display custody details, including shares that are still settling and due by the next U.S. business day. Dividends are automatically reinvested into additional shares of the same stock. Holders can submit voting instructions by signing with their crypto wallets, although direct dividend payments are planned for a later date once Hyperliquid completes a proposed upgrade.

The tokens are not available to individuals in the United States or residents of the British Virgin Islands. EQX is currently recruiting approved trading firms and distribution partners to support the launch. The company also hopes traders will use the tokens as collateral for loans or deposit them into Hyperliquid’s investment vaults. Trading is scheduled to open soon, but no specific date has been announced.