Nearly 91% of tokenized stocks are issued outside the US, with Jersey, ADGM and BVI in front

Offshore issuers dominate a tokenized equity market that mostly tracks American stocks and ETFs Tokenized stocks are mostly a bet on American companies. They are just not being built in America. Non-US issuers account for 90.8% of tokenized stock market capitalization, while US issuers hold 8.6% . That is a lopsided split for a product category whose underlying assets are overwhelmingly US-listed. Three offshore jurisdictions are doing most of the work: Jersey, the British Virgin Islands (BVI), and Abu Dhabi Global Market (ADGM). Together, they account for the majority of issuance.