What Is Tokenized Amazon (AMZNX)? The Certificate Behind the Token and What You Own

A listed share was built for a world of business hours. It sits on a transfer agent's register, moves through a clearing house and settles the day after it trades. The company behind it reports its quarterly results at four in the afternoon in New York, after which the regular session stays shut for seventeen and a half hours.

A crypto holder wants something narrower from that share than a broker offers: its price, in the account they already have, funded with the stablecoins they already hold, and available at the hour the news arrives. The vote at the annual meeting was never the point.

There is an instrument built for exactly that gap, in which an issuer buys a share, locks it with a custodian, and writes a certificate against it that lives on a blockchain. The certificate can be sold to anyone with a wallet, so the price of the share travels while the share itself stays put. That structure is older than crypto; the new part is that the certificate is now a token.

For Amazon, that token is AMZNX, and BloFin quotes it against USDT. Holding it makes you a creditor of the issuer for the value of one share, with a real share in custody behind the claim and a price held close to Nasdaq's by the issuer's own dealing window.

What is tokenized Amazon (AMZNX)?

Tokenized Amazon (AMZNX) is a tracker certificate on one Amazon.com, Inc. share, issued as a Solana and Ethereum token by Backed Assets (JE) Limited and backed by a real share held with a custodian (source: Backed Assets). On BloFin it trades as the AMZNX/USDT Spot pair, at 249.07 USDT at 07:15 UTC on September 16, 2026.

The token carries two spellings because two organizations write it. The issuer's product line is called xStocks, and it writes this one AMZNx with a lowercase x after Amazon's own ticker, while BloFin lists the spot pair in capitals as AMZNX/USDT. Both names refer to the same certificate, which has its own International Securities Identification Number (ISIN), CH1436219211, while the share it tracks carries US0231351067 (source: Backed Assets). A custodian uses those two codes to keep the certificate and the share apart in its records. So should you: one is the thing you can buy on BloFin, and the other is the thing sitting behind it.

Amazon has no part in issuing the token. The company's only registered security is its common stock, so anything sold as an Amazon coin is either a certificate like this one from a third party or unrelated to the company (source: Amazon Form 10-K). Backed Finance AG, the tokenizer, designed the product, and Backed Assets (JE) Limited, its issuing vehicle in Jersey, issues it. BloFin lists it, and states on the pair's own page that it is not the issuer, and in its risk disclosure that it guarantees neither the collateralization nor the redemption (source: BloFin xStocks risk disclosure). All three point at what Amazon stock (AMZN) is, one registered class of common stock, and the vote that comes with that share stays with whoever holds the share itself.

Say you hold 10 AMZNX on BloFin. Somewhere in a custodian's segregated account, 10 Amazon shares are booked to the issuer's certificate program, and your 10 tokens are meant to move in value exactly as those shares do. That is the whole design.

What you own when you hold AMZNX

Holding AMZNX makes you a creditor of Backed Assets (JE) Limited for the value of one Amazon share per token. The certificate is legally a bearer debt instrument, so it gives you the share's price and none of a shareholder's rights. The token itself is the certificate, and whoever holds the token holds the claim (source: xStocks legal overview).

A tracker certificate is a debt security whose repayment value is tied to something else, here the share, and the issuer owes you that value on the certificate's terms. A bearer instrument belongs to whoever holds it, with no register of names, which is why a blockchain balance is enough to prove ownership. The issuer's documents cite Switzerland's DLT Act, its distributed-ledger-technology law, as the law that makes an on-chain record valid evidence of title (source: xStocks legal overview). Backed Assets (JE) Limited is a special purpose vehicle, a company set up to do one thing, here to issue and redeem xStocks, so that its balance sheet holds nothing else that could go wrong.

Everything a share carries beyond its price stays with the share. There is no vote at Amazon's annual meeting, no right to information from the company, and no direct ownership of the share. The share belongs to the issuer's program, and you own a claim on the issuer (source: xStocks legal overview). A BloFin delisting would end the market for the token on BloFin and leave the claim on the issuer intact, and that intact claim is where whether tokenized Amazon is safe begins.

The claim is secured, and that matters if the issuer ever fails. The shares sit in accounts governed by a three-party agreement among the issuer, the custodian and an independent security agent, Security Agent Services AG (source: Backed Assets). That agreement gives the agent sight of those accounts and a right to take them over. If the issuer defaults or stops honoring holders' rights, the agent can take control of those accounts, sell the shares and pay token holders on the prospectus terms (source: xStocks legal overview). Say you hold one of each. As an Amazon shareholder you have a name on the register kept by Computershare, the company's transfer agent, and a vote at the annual meeting (source: Amazon Investor Relations). As an AMZNX holder you have a token in a wallet and a secured claim on a company whose assets are the shares behind its certificates and the accounts that hold them.

What stands behind each AMZNX token

Each AMZNX token is backed by one Amazon share held in a segregated account at one of the issuer's custodians, and the issuer publishes the count. On September 16, 2026 its proof-of-reserves portal showed 31,325.00 AMZN in custody against 31,212.62 AMZNx in circulation, a ratio of 100.36% (source: xStocks proof of reserves).

Four custodians hold the shares, Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG and GTN Europe Financial Services Limited, and the first three also act as the brokers that buy and sell them for the program (source: Backed Assets). Each xStock is backed on its own, asset by asset, in dedicated sub-accounts. The Amazon shares behind AMZNX are never pooled with the Tesla shares behind TSLAx, which is what "segregated" means in the documents (source: xStocks legal overview).

The card's ratio divides the shares in custody by the tokens in circulation, so anything at or above 100% means every circulating token has a whole share behind it. The count in custody ran 112.38 shares ahead of circulation that morning, so the ratio sat above 100%. The value line, $7,790,840.75, is the custody count at the share price the portal was using, $248.71.

Backing is a claim you can verify yourself, because the portal provides read-only visibility of the collateral accounts for exactly that purpose. Reading the card against the token's supply on a block explorer is the first step in how to check that AMZNX is backed. What the reserve does not do is insure you: BloFin states that xStocks tokens on its platform carry no government or private insurance (source: BloFin xStocks risk disclosure).

Why AMZNX tracks the Amazon share price

AMZNX stays near Amazon's share price because two markets sit on top of each other. In the primary market, onboarded clients create or redeem tokens with the issuer at the prevailing price of the underlying share. In the secondary market, which includes BloFin, the price is set by supply and demand between traders (source: xStocks documentation).

The primary market is what anchors the price. A client who has completed the issuer's know-your-customer (KYC) checks can send stablecoins or Amazon shares and receive newly issued AMZNX at the share's market price, or send AMZNX back and receive the share's value. The issuer runs that window 24 hours a day on the five days the US market is open (source: xStocks documentation). Dealing directly with the issuer takes a $5,000 minimum per transaction, and retail holders may redeem after KYC. The issuer charges up to 0.50% of the value on the way in and again on the way out, with no management fee at present (source: Backed Assets). Nobody on BloFin needs to do any of this, but the fact that somebody can is what holds the price to the share.

Work the numbers at the price the pair showed that morning. With AMZNX at 249.07 USDT, a 0.50% fee is 1.25 USDT. A direct client profits from creating tokens and selling them on BloFin only once the token trades more than about 1.25 USDT above the share. Buying on BloFin and redeeming only pays once it trades more than about 1.25 USDT below. Between those two lines, roughly 247.82 and 250.32, no one is paid to push the price back, and the token can drift on BloFin's own order flow. Outside them, creation and redemption pull the token back toward the share's price. That band is what the issuer means when it says it does not control secondary prices: it sets the gate, and traders do the rest.

The band widens when the share is not trading. Amazon's share trades on Nasdaq only during its session, so on a Saturday the issuer's window is closed and creation and redemption stop. AMZNX on BloFin then trades on whatever the market believes Monday's open will bring. The AMZNUSDT Perpetual, which BloFin prices from an index built on tokenized Amazon, moves with that same belief, and the two products can disagree by more than the fee band in those hours. A token held for months carries no funding cost and keeps a share behind it, while a contract held over a weekend carries funding and a price that can move before Nasdaq reopens. Funding is the cost that decides AMZNX versus the AMZN perpetual for anyone holding longer than a few days.

How dividends and splits reach the token

The issuer passes corporate actions through a multiplier, a single number stored with the token. It starts at 1.0 and is scaled every time the share pays a dividend or splits, so that one token always represents the value of one share (source: xStocks dividends and splits).

The issuer's own worked example uses Apple. A dividend arrives at the custodian as cash and the issuer reinvests it in more Apple shares, so the multiplier moves from 1.0 to 1.008 and a holder's displayed balance rises by 0.8% without any transaction. A 4-for-1 split then multiplies it again, from 1.008 to 4.032, and a holder who had one token now shows just over four (source: xStocks dividends and splits). On Ethereum the token contract adjusts the balance itself, while on Solana the raw balance never changes and the wallet applies the multiplier when it displays it. The new multiplier is published on-chain and takes effect at 00:30 UTC on the day after the ex-date, and dividends are reinvested net of withholding tax.

Amazon has given the multiplier nothing to do, because the company has never declared or paid a cash dividend, and its last split, 20-for-1 on June 3, 2022, came three years before BloFin listed the token (source: Amazon Investor Relations). An AMZNX holder's balance is the number of tokens they bought, and it will stay that way until Amazon pays a dividend or splits the share again. Why Amazon pays no dividend is a policy as old as the listing, and it makes the AMZNX multiplier the least interesting number in the product.

Which Amazon share class the token tracks

AMZNX tracks Amazon's common stock, and Amazon has only one class of it. The company's 2025 annual report shows one registered class, common stock with a par value of one cent trading as AMZN on the Nasdaq Global Select Market. It also authorizes 500 million preferred shares, none of them issued or outstanding (source: Amazon Form 10-K).

That single class simplifies the token. A tracker certificate has to name exactly which security it follows. For a company with several classes that choice matters, because the classes trade at different prices and carry different votes. The issuer's Alphabet certificate, GOOGLx, tracks Alphabet's Class A share and leaves its Class C alone, so a holder has to know which one they hold (source: Backed Assets Alphabet xStock). For Amazon the choice is already made, because the certificate's underlying is the only Amazon share that exists, identified by the one ISIN, US0231351067, and every AMZNX token points at the same thing. A holder of AMZNX therefore never faces the question a GOOGLx holder does.

Say you hold AMZNX and Amazon creates a second class tomorrow. The issuer would have to decide whether the certificate follows the old share, the new one, or some combination, and holders would have to read the final terms to find out. The share behind AMZNX has been the same instrument, with the same rights, since the company listed in 1997.

Where AMZNX lives and trades

AMZNX exists on more than one blockchain and trades on more than one venue, and BloFin has listed it since September 2, 2025. The issuer mints it natively on Ethereum under the ERC-20 token standard and on Solana under the SPL (Solana Program Library) Token-2022 standard, and its documentation also lists Arbitrum, Mantle, TON and Ink (source: xStocks documentation).

BloFin listed the pair in its Spot Innovation Zone at 10:00 UTC on September 2, 2025, alongside GOOGLX, METAX, COINX and MCDX, and opened withdrawals a day later at the same hour (source: BloFin xStocks listing notice). The pair is quoted in USDT with a 0.01 tick and takes limit, market and trigger orders. The issuer does not sell its tokens to US persons (source: Backed Assets). The first time you buy it, BloFin asks you to confirm that you are not a US person, not a UK person and not in a restricted location, and that you have read the xStocks risk disclosure (source: BloFin xStocks risk disclosure). After that confirmation the pair behaves like any other spot market, and how to buy tokenized Amazon on BloFin comes down to funding the account in USDT and choosing between a limit and a market order.

Hours are stated differently by the issuer and the venue, since the issuer says its tokens can trade on secondary markets around the clock, depending on the platform, while its own creation window runs 24/5. BloFin's risk disclosure describes xStocks markets as operating 24 hours a day on weekdays only (source: BloFin xStocks risk disclosure). The AMZNX/USDT pair has nonetheless printed hourly volume on a Saturday and a Sunday, September 12 and 13, 2026, so treat the weekday schedule as the floor and check the pair on the day. Amazon reports its quarterly results after Nasdaq's 16:00 close on a weekday, so on either schedule the AMZNX market is open when the numbers land.

Because the token is a native asset on two chains, it can leave the exchange. Say you withdraw the token to a wallet you control. BloFin opened withdrawals on September 3, 2025, and warns that the network you select must match the one your wallet uses, because a token sent on the wrong network can be lost (source: BloFin xStocks listing notice). A token in your own wallet can be moved, bridged or used as collateral elsewhere, and withdrawing AMZNX to your own wallet starts with matching the network and confirming the genuine contract address. The pair's live price, order-book depth and 24-hour volume are on the AMZNX/USDT Spot page, which is also where that first-purchase confirmation appears.

How AMZNX differs from a share, an ETF and the perpetual

AMZNX gives you the price of one Amazon share as a token, and each neighboring product gives the same price in a different wrapper. The share carries the vote and the register entry, the exchange-traded fund (ETF) unit a slice of a fund that holds Amazon among other things, and the perpetual a leveraged contract with no asset behind it.

Against the real share, the trade-off is rights for access. A brokerage share gets you the vote, the company's mailings and a claim on Amazon. AMZNX gets you the price in a crypto account at hours a broker cannot offer, with a claim on the issuer in place of a claim on the company. A holder who will never vote gives up only rights they would not use, which is the case for tokenized Amazon versus the real share, and takes on the issuer as the counterparty. One who wants that claim on the company itself keeps the share.

Against an ETF, the difference is concentration: a fund holds Amazon at whatever weight its index gives it, so a 5% move in Amazon moves the unit by a fraction of that, and the fund charges a yearly expense. AMZNX is Amazon alone, one share per token, with no yearly fee at present, so tokenized Amazon versus an Amazon ETF is a choice between the company on its own and a basket that contains it.

Against the perpetual, the difference is what backs the position. AMZNUSDT lets you hold the price long or short at up to 20x, with 0.01 AMZN as the smallest order and funding every eight hours (source: BloFin AMZN contract details). It is built on an index of tokenized Amazon (source: BloFin stock futures notice). Nothing is held in custody for a perpetual position: your margin is the only asset behind it, and it can be liquidated. Say you hold a 10x long: a 10% fall in Amazon costs the position its entire margin, and an AMZNX holder 10% of a balance that still has a share behind it.

Against other tokenized Amazon products, the difference is the issuer and its terms. Ondo's version is AMZNon, backed by shares plus cash in transit, redeemable to stablecoins through Ondo's program, and secured by a security agent with a first-priority interest in the collateral (source: Ondo). The xStocks certificate is the one BloFin carries, alongside the other tokenized stocks BloFin lists, and one issuer's token cannot be redeemed through another's program.

Looking to trade tokenized Amazon? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and navigate to the AMZNX/USDT Spot trading page or AMZNUSDT Perpetual page.

Frequently asked questions

Who regulates the issuer of AMZNX?

The issuer answers to Jersey's financial regulator, the Jersey Financial Services Commission (JFSC). Backed Assets (JE) Limited is registered there and holds the two consents, COBO and CGPO, that Jersey requires before a company may issue security tokens (source: xStocks legal overview). Inside the European Economic Area the tokens are sold under a base prospectus that Liechtenstein's market authority approved, and a licensed distributor in one EEA country can rely on it in the others. Each product carries its own final terms. Elsewhere a regulator may treat the same token as a crypto asset, and the permissions a venue needs change with that label.

Can AMZNX be redeemed for real Amazon shares?

Direct clients of the issuer can redeem in kind, receiving the underlying shares rather than stablecoins, through a flow the issuer calls xPort, and can issue tokens the same way by delivering shares (source: How xStocks Work). Both require onboarding with the issuer and a $5,000 minimum per transaction, and a retail holder who redeems is more likely to take the share's value in stablecoins. An exchange balance on BloFin sits outside that flow entirely and is sold back into USDT on the spot pair.

Can AMZNX be moved from one blockchain to another?

The issuer runs a cross-chain bridge, xBridge, that moves an xStock between the networks it is issued on without selling the token and buying it again (source: xStocks documentation). The bridge is built on Chainlink's Cross-Chain Interoperability Protocol (source: xStocks xBridge announcement). Bridging changes only the network the token sits on, and the certificate, the backing and the multiplier stay the same on the other side (source: How xStocks Work). A venue may support fewer networks than the issuer issues on, so the chain you withdraw to has to be one the receiving side accepts.

Could AMZNX start charging a management fee?

The issuer reserves the right to introduce a management fee of up to 0.25% a year, and charges none at present (source: Backed Assets). That reservation is the only running charge in the issuer's fee schedule, and a holder who buys and sells only on BloFin pays the exchange's spot trading fee and never touches the issuer's fee schedule at all.

What are the trading hours of the AMZNUSDT Perpetual?

The contract's regular hours run from 13:30 to 20:00 UTC while US daylight saving time is in force and from 14:30 to 21:00 UTC for the rest of the year, matching Nasdaq's session. Outside them BloFin may restrict the contract to reduce-only orders, which close or shrink a position (source: BloFin stock futures notice). Its price limits are set 3% either side of the index (source: BloFin AMZN contract details).

Researched and written by the BloFin Academy editorial team with AI-assisted drafting. Primary sources include the Backed Assets product page for Amazon xStock, the xStocks legal overview, FAQ, dividends documentation and proof-of-reserves portal, Amazon's 2025 Form 10-K and investor relations FAQ, Ondo's product page, and BloFin's own listing notice, risk disclosure, contract details and trading pages. All facts independently verified against cited documentation current as of September 16, 2026.

Educational content only, and never financial, investment or trading advice. Tokenized stocks carry the price risk of the underlying share together with issuer, custodian and liquidity risks that the share does not, perpetual futures can be liquidated, and past performance is no guide to future results. Do your own research and consider your own circumstances before trading.