Stobox vs Tokeny
Two non-custodial technology providers, two permissioned-token lineages — and completely different customers. Tokeny is infrastructure institutions integrate; Stobox is a journey private companies are taken through.
Choose Tokeny if you are a bank, asset manager, or fund platform buying white-label tokenization infrastructure — ideally inside the Apex Group ecosystem, which now owns it. Choose Stobox if you are a private company that needs the whole journey: a free readiness score, one canonical record, offering documents prepared by specialists, licensed broker-dealer routing in the US, and flat published fees instead of an enterprise sales cycle.
| Tokeny (Apex Group) | Stobox | |
|---|---|---|
| What it is | Enterprise tokenization infrastructure (the T-REX platform) — white-label SaaS for regulated institutions. Majority-owned by fund administrator Apex Group since May 2025. | An operator-run stack for private companies: organize the business, prepare the regulated raise, issue the token — one journey, one record. |
| Built for | Banks, asset managers, and fund platforms — 120+ institutional customers, typically €5M+ in tokenized assets. | Private companies and asset owners from first readiness check to live token — no institutional threshold. |
| Getting ready | Assumes you arrive structured. No company-readiness or organization layer. | Intelligence builds your canonical record and scores it across 7 readiness pillars — free to start. |
| Offering preparation | Not a Tokeny product — offering documents and exemption strategy sit with your counsel. | Raisable prepares broker-acceptance-grade documents from your record; Stobox specialists finalize the package. |
| US distribution | Via the Apex ecosystem — Apex acquired broker-dealer Globacap (Nov 2025) to add US routing. | Routed to licensed US broker-dealer partners (e.g. tZERO, Texture Capital, Silicon Prairie) as part of the Raisable flow. |
| Token standard | ERC-3643 (T-REX) — Tokeny authored it; ~$32B tokenized on the standard. Identity via ONCHAINID. | ERC-7943 (uRWA) — the newer permissioned standard Stobox contributed to — with eligibility read from attestations (EAS / Coinbase Verifications), so no identity documents live on the platform. |
| Custody | Non-custodial — integrates third-party wallet providers; holders control keys. | Non-custodial — passkey smart wallets (ERC-4337); issuers and investors hold their own keys. |
| Chains | EVM chains + Hedera (2025 partnership). | Base by default (OP-stack portable, Arbitrum supported), USDC-native settlement. |
| Pricing | Enterprise licensing: implementation fee + software license + per-investor fees. No public prices. | Published flat fees: free start, Intelligence from $0, flat raise windows, $499/$749 on-chain actions. Never a percentage. |
| Who steers the roadmap | Apex Group (majority owner, path to 100% by 2028). | Independent, founder-led since 2018. |
Tokenization is three jobs. Count how many Tokeny does.
A compliant tokenized raise is organize → raise → tokenize. Most platforms sell the third job and leave the first two — the parts that decide whether the deal survives diligence — to you.
Stobox Intelligence
Turns your company into one canonical, verifiable record and scores it across the 7 AXIS readiness pillars — so you know whether to tokenize, how to structure, and what has to be true before anyone's counsel finds out for you. Free to start.
Nothing — Tokeny assumes an institution arrives structured, with counsel and governance in place.
Stobox Raisable
Turns that record into a broker-acceptance-grade regulated offering (Reg D / S / CF / A+ and EU frameworks). Documents are prepared from your record and finalized by Stobox specialists; the sale runs through licensed broker-dealers. Flat fee per 90-day window — never a percentage of the raise.
Distribution rails exist (the DINO network; US routing via Apex's Globacap acquisition), but preparation doesn't: offering documents and exemption strategy are your counsel's job.
Stobox Compass
Issues the live, compliant tokenized security: ERC-7943 (uRWA) permissioned tokens, an On-Chain Asset Passport on Base, a real-time on-chain registry, USDC settlement, and passkey smart wallets (ERC-4337) — non-custodial, so Stobox never holds your asset or your investors' funds. Flat $499 asset mint / $749 contract deploy.
Strong for institutions — ERC-3643 white-label issuance with ONCHAINID identity, non-custodial wallets, EVM + Hedera. The reference implementation of the incumbent standard.
Where Tokeny genuinely wins
- Authored ERC-3643 — the most-adopted permissioned-token standard, ~$32B tokenized on it.
- 120+ institutional customers; white-label depth banks and fund platforms need.
- Apex Group backing: $3T-AUM fund-services distribution and a broker-dealer (Globacap) for US reach.
- Non-custodial architecture with a mature on-chain identity system (ONCHAINID).
Where Stobox wins
- The journey starts earlier. Intelligence organizes and scores the company before a single token exists — Tokeny has no readiness layer at all.
- Documents are prepared, not delegated. Raisable turns your record into a broker-acceptance-grade offering; Tokeny leaves that to your counsel.
- Published flat pricing — free start, $499/$749 flat on-chain actions — vs enterprise licensing with implementation fees and per-investor charges you learn about in a sales call.
- No €5M threshold. Built for the companies Tokeny's model prices out.
- Privacy-first eligibility. ERC-7943 reads a verified yes/no from attestations — Stobox never stores investor identity documents.
- Independent roadmap — not a subsidiary integrating into a fund administrator's strategy.
Questions, answered
How is Stobox different from Tokeny?
Both are non-custodial technology providers, and both issue permissioned tokens — that is where the similarity ends. Tokeny sells white-label infrastructure to institutions (banks, asset managers, funds of €5M+) inside the Apex Group ecosystem, and assumes you arrive with counsel and documents ready. Stobox runs the whole journey for private companies: Intelligence organizes and scores the business, Raisable prepares the offering and routes it to licensed broker-dealers, and Compass issues the token — with published flat fees at every step.
When is Tokeny the better choice?
When you are a bank, asset manager, or fund platform that wants proven white-label tokenization infrastructure — especially if you already work with Apex Group for fund services. Tokeny authored ERC-3643, and roughly $32B has been tokenized on the standard: for institutional white-label deployments it is the reference choice.
ERC-3643 vs ERC-7943 — does the standard matter?
Both are permissioned-token standards that gate transfers to eligible holders. ERC-3643 (authored by Tokeny) is the incumbent, with its own on-chain identity system (ONCHAINID). ERC-7943 (uRWA — finalized in 2026, with contributions from Stobox and others) is a leaner interface that reads eligibility from attestation layers such as EAS and Coinbase Verifications, so no platform needs to hold your identity documents. Stobox issues on ERC-7943 via Compass.
Can a small or mid-size company use Tokeny?
Tokeny's model targets institutions — enterprise licensing with implementation fees, negotiated pricing, and customers typically above €5M in tokenized assets. A smaller private company gets no readiness layer, no document preparation, and an enterprise sales cycle. That earlier, messier part of the journey is precisely what Stobox is built for.
Related: Stobox vs Securitize ·Stobox vs Polymesh ·permissioned token standards ·score your readiness free
Tokeny facts reflect public sources as of July 10, 2026 (company and Apex Group announcements, ERC-3643 Association materials, press coverage) and may change; Tokeny and T-REX are trademarks of their owners, who do not endorse this page. Corrections welcome atinfo@stobox.io. General information, not legal or investment advice — see Legal & disclosures.