SK hynix Tokenized ADRs Hit 100 Billion Won Mark Overseas

Tokenized American depositary receipts (ADRs) for SK hynix have crossed the 100 billion won mark in overseas markets, according to CoinMarketCap. The combined market capitalization of four spot tokenized products tracking SK hynix's US-listed shares reached $72.8 million on Monday.

The tokens, which were introduced by various exchanges since July 10 when SK hynix's ADRs began trading in the US, have been attracting significant demand from investors. The largest of these tokens, xStocks' SKHYx, had a market capitalization of $50.7 million and accounted for about 70 percent of the four products' combined market value.

The introduction of tokenized securities has provided overseas investors with an alternative way to gain exposure to SK hynix while also generating additional liquidity and trading-fee income for crypto exchanges. However, due to restrictions on tokenized securities in Korea, these tokens are currently only available on overseas platforms, limiting access to Korean investors.