Asset · US stock
Where to trade tokenized Cloudflare (NET)?
30-SECOND ANSWER · TL;DR
As of 2026-07-07, tokenized Cloudflare (NET) spot tokens trade on 1 venue (issuers: xStocks (Backed)). Every spot venue excludes US users. A self-custody wallet + DEX route also exists on BNB Chain / Ethereum / Ink / Mantle / Solana / TON / X Layer. Per-venue restrictions are in the table below. Venue comparison
| Venue | Form | Issuer | Regional restrictions | KYC | Fees / leverage | Redemption | Stress-test record | Verified | Details |
|---|---|---|---|---|---|---|---|---|---|
| Gate gate.com | Spot token | xStocks (Backed) NETx · NETx · NETx · NETx · NETx · NETx · NETx | Blocks GB · US Not registered under the U.S. Securities Act and may only be offered to non-U.S. persons; issuer states products are NOT available for UK clients; direct primary purchase requires Swiss FinSA Professional Client or EU/EEA Qualified Investor status | Required | — | Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights | — | 2026-03-23 | Details |
| Wallet + DEX DEX · BNB Chain | Spot token Self-custody | xStocks (Backed) NETx | No protocol-level restriction; front ends may geoblock | Not required (wallet) | — | Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights | — | 2026-07-07 | Wallet + DEX guide |
| Wallet + DEX Uniswap · Ethereum | Spot token Self-custody | xStocks (Backed) NETx | No protocol-level restriction; front ends may geoblock | Not required (wallet) | — | Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights | — | 2026-07-07 | Wallet + DEX guide |
| Wallet + DEX DEX · Ink | Spot token Self-custody | xStocks (Backed) NETx | No protocol-level restriction; front ends may geoblock | Not required (wallet) | — | Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights | — | 2026-07-07 | Wallet + DEX guide |
| Wallet + DEX DEX · Mantle | Spot token Self-custody | xStocks (Backed) NETx | No protocol-level restriction; front ends may geoblock | Not required (wallet) | — | Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights | — | 2026-07-07 | Wallet + DEX guide |
| Wallet + DEX Jupiter · Solana | Spot token Self-custody | xStocks (Backed) NETx | No protocol-level restriction; front ends may geoblock | Not required (wallet) | — | Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights | — | 2026-07-07 | Wallet + DEX guide |
| Wallet + DEX DEX · TON | Spot token Self-custody | xStocks (Backed) NETx | No protocol-level restriction; front ends may geoblock | Not required (wallet) | — | Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights | — | 2026-07-07 | Wallet + DEX guide |
| Wallet + DEX DEX · X Layer | Spot token Self-custody | xStocks (Backed) NETx | No protocol-level restriction; front ends may geoblock | Not required (wallet) | — | Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights | — | 2026-07-07 | Wallet + DEX guide |
“Details” opens the venue page; outbound links there go through /go/ redirects (disclosed). Stress-test record = the venue’s actual delivery in historical events, linked to the event page.
First trade? Pick your route
FAQ
Does holding the NET token equal owning Cloudflare stock?
No. You hold an issuer's (xStocks (Backed)) tracker instrument on the underlying stock — price exposure, not shareholder rights. xStocks (Backed) redemption: Holders who complete Backed's verification process can redeem directly with Backed at NAV (subject to additional fees); secondary holders do not receive underlying shareholder rights.
Which regions cannot trade tokenized NET?
Gate (Spot token): Blocks GB · US. Each platform’s official terms govern.
What is the difference between spot tokens and stock perpetuals?
Spot tokens track the real stock 1:1 via an issuer, without leverage; perpetuals are synthetic exposure — no issuer, no token, no redemption — with leverage and funding rates. Beginners should start with spot tokens.