EQX Plans 11 Tokenized Stock and ETF Markets on Hyperliquid

EQX Labs announced EQX, a tokenized stock and exchange-traded fund product whose first 11 markets are expected to open soon on Hyperliquid, allowing round-the-clock trading through the platform’s public order book.

The tokens will be issued natively on Hyperliquid’s HyperCore as HIP-1 tokens. Trading will be permissionless and available 24 hours a day, seven days a week.

EQX SPC Ltd., a British Virgin Islands segregated portfolio company, will issue the tokens. Each is a stock-backed, limited-recourse note tied to a separate portfolio. EQX STAR Trust, a Cayman Islands purpose trust, owns the issuer; EQX Labs does not.

Custodians connected to DTC hold the backing shares at a 1-to-1 ratio. The named custodians are Alpaca, StoneX and Clear Street. Shares awaiting settlement will be identified separately as in transit and are expected to settle on the next U.S. business day.

Authorized participants can exchange shares for tokens and tokens for shares without issuer fees. The issuer also plans not to charge fees for creating, redeeming or holding tokens. Trades will be subject to Hyperliquid’s standard spot trading fees.

Token holders can submit voting instructions using onchain signatures. Dividends will be reinvested in the corresponding stock after withholding, while stock splits will be reflected in the backing shares. EQX plans to distribute dividends directly to holder accounts if Hyperliquid’s proposed HIP-1 extension launches.

The related business is supported by trading fees Hyperliquid shares with HIP-1 deployers.