---
title: "Every tStock starts with a real share · ST0x"
url: https://st0x.io/issuance
format: markdown rendering of the HTML page
---

Issuance

# Every tStock starts with a real share.

Authorised Participants mint new tokens against real shares, and redeem tokens for shares. Every mint and burn has a receipt onchain.

[Become an AP](/ap) [See the latest receipts](/trust#live-stats)

## How it works

### Minting

1.  01
    
    #### Deliver shares
    
    The AP moves shares from its broker account to an account S01 designates at an Eligible Broker.
    
2.  02
    
    #### Confirmation
    
    S01 confirms the shares have arrived.
    
3.  03
    
    #### Mint
    
    S01 mints the matching tStock to the AP’s wallet, with a receipt onchain.
    
4.  04
    
    #### Into the market
    
    The tokens are free to trade, wrap and use across the ecosystem.
    

### Redemption

1.  01
    
    #### Return tokens
    
    The holder sends tokens to S01 and names a broker account.
    
2.  02
    
    #### Shares out
    
    S01 transfers the matching shares to that account.
    
3.  03
    
    #### Burn
    
    S01 burns the tokens once delivery is confirmed, onchain.
    

## Who can be an AP

Firms that S01 onboards to mint and redeem directly. Everyone else gets tokens at the [venues](/ecosystem#trade).

-   ### A broker account
    
    An account with an Eligible Broker, under that broker’s onboarding.
    
-   ### Onboarding with S01
    
    S01’s eligibility and sanctions checks: not a US person, not sanctioned.
    
-   ### Whitelisted wallets
    
    The wallets you mint to and redeem from, set up in advance.
    

## Mint and redeem directly

Register your firm’s interest and S01’s onboarding team will be in touch.

[Become an AP](/ap)

Terms and fees: [minting and redeeming](/docs/concepts#minting).

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Risk warning

You are about to purchase a product that is not simple and may be difficult to understand. The Products bear the risk that Investors may lose all or part of the invested capital. Products are unsecured debt instruments of the Issuer. Investors are exposed to the credit risk of the Issuer. The Products are not capital protected and are not covered by any deposit protection or Investor compensation scheme.

Source: Base Prospectus, 30 March 2026, pp. 8 and 17.

Eligibility

Not for US persons or sanctioned persons. Offered to the public under the Base Prospectus in Liechtenstein, Germany, Luxembourg, France, Spain and Italy and other EEA states notified under Article 25. Minting and redemption with the issuer require an Eligible Broker account and onboarding. [Full eligibility](/legal#eligibility).

Source: Base Prospectus, 30 March 2026, pp. 1, 3, 24, 38 and 69.