Ondo Finance’s tokenized Circle Internet Group, Inc. stock (CRCLon) gives eligible users 24/7 redemption, while Circle xStock (CRCLx) trades 24/7 on Kraken Pro but normally limits direct redemption to a 24/5 window.
Ondo added CRCLon to a group of six assets with 24/7 minting and redemption on June 25. The service covers eligible users outside the United States. Ondo’s usual window for stock tokens runs 24 hours a day, five days a week.
Users seeking direct redemption must pass Ondo’s eligibility checks. Ondo says corporate actions, unusual market conditions or system disruptions can pause the service, so the 24/7 window does not guarantee uninterrupted access.
For CRCLx, weekend activity takes place through trading. Kraken says the token is available on Kraken Pro at any hour, but xStocks’ issuer documentation sets a normal 24/5 window for direct issuance and redemption. Direct redemption also requires eligibility checks and a $5,000 minimum.
Backed Assets (JE) Limited issues CRCLx as a certificate with one underlying Circle share for each token. Circle’s Class A shares trade on the New York Stock Exchange under CRCL. Kraken says that backing gives token holders neither voting rights nor a legal claim to the shares. Backed lists an issuance or redemption fee of up to 0.50%.
The schedules give users different routes to cash when U.S. share trading is closed. Eligible CRCLon users can request direct redemption over a weekend, subject to Ondo’s service conditions. CRCLx holders can trade then, but normally must wait for the issuer’s window to redeem directly. Earlier EconoTimes coverage of tokenized-stock lending described how the timing gap can matter when a borrower needs to address a loan before collateral can be redeemed.
Robinhood Assets (Jersey) Limited issues its Stock Tokens as debt securities that provide exposure to referenced shares and ETFs without giving holders rights against the companies behind them. Robinhood specifies supported trading sessions for each asset; on-chain trades may also take place outside the minting window.
The proposed OKXICE venue for share-backed tokens sets out a different rights model. Its notice says the tokens would carry voting and dividend rights equivalent to those of the underlying stock. The SEC’s temporary, conditional exemption announced Sept. 17 also requires equivalent rights for qualifying stock tokens. OKXICE’s Oct. 15 notice gave no launch date.
