What is Eligibility (US vs Non-US)?
Eligibility is the jurisdictional rule that decides who may hold a tokenized product. Most backed tokenized equities are offered to non-US persons only, or to US investors solely under an exemption. The rule is applied at onboarding and, for permissioned tokens, re-checked at every transfer — so eligibility is a live state, not a one-time form.
Also called: can US investors buy tokenized stocks · non-US persons only · Reg S · jurisdiction gating
Why the US line exists
A token representing a share is generally treated as a security, so offering it into the United States requires registration or an exemption. Issuers that do not want that obligation restrict distribution to non-US persons, which is why several leading tokenized-equity products state plainly that US persons are excluded. Others serve US investors through accredited-investor or registered structures with their own minimums and lockups.
How eligibility is enforced
Off-chain at onboarding through identity and residency checks, and on-chain through the registry a permissioned token consults on every transfer. A holder who becomes ineligible — a change of residence, a lapsed verification — can find transfers blocked. Rules are product-specific: read the issuer's own terms rather than assuming a peer product's eligibility applies.
Frequently asked questions
Can US investors buy tokenized stocks?
For many products, no — they are offered to non-US persons only. Where US access exists it is under an exemption or a registered structure with its own conditions. Check the specific issuer's terms.
Does using a VPN change eligibility?
No. Eligibility is a legal status tied to who and where you are, verified at onboarding and enforced at the contract. Circumventing a geo-check does not create a right to hold the instrument.
Where this shows up live
On the desk
Compare: tokenized vs traditional shares
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Related terms
- KYC / AML Gate — A KYC/AML gate is the check that decides which wallets may hold or receive a regulated token.
- T-REX (ERC-3643) — T-REX (ERC-3643) is an Ethereum token standard for compliant, permissioned security tokens.
- Tokenized Equity — A tokenized equity is a blockchain token that represents ownership of, or economic exposure to, a real company share.
More in Compliance
Attestation · KYC / AML Gate · ONCHAINID · Proof of Reserve · T-REX (ERC-3643) · Transfer Agent
Informational only · not financial advice. See the live numbers on the data desk, the sourcing rules in the methodology, or the day's stories in the newsroom. · ← All glossary terms