The real cost of tokenization

A $2M real-estate raise

Single US SPV, Reg D 506(c), accredited investors

Mint-only: a law firm bills $40–90K for the offering. With Stobox: one Raisable window ($1,499) includes the documents; you pay entity formation, an appraisal, and fully-on-chain Compass ($1,248).

A $10M private fund

Cayman tokenized-fund structure, professional investors

Fund audit and CIMA registration are external either way (the floor). The offering documents — six figures at a firm — are included in Stobox's windows. The delta is almost entirely document preparation.

Tokenizing company equity

Dedicated share class, Reg D + Reg S stack

Two exemptions = two windows, both including their document package (the STBX pattern). Corporate approvals and any appraisal are yours; the drafting isn't a separate bill.

How much does it cost to tokenize an asset?

It depends heavily on one thing: whether your platform prepares the offering or just mints the token. The dominant cost of any tokenization is the offering documents and structuring. With a mint-only platform you engage a law firm for that — $50,000–$200,000+ — on top of the platform fee. With Stobox, the Raisable window fee ($1,499–$6,999) includes the full document package, filings, and data room finalized to broker standard, so a comparable deal is a fraction of the all-in. What's external either way: entity formation ($110–$5K), an independent appraisal or audit if required ($5K–$50K+), optional outside counsel for sign-off, and the broker-dealer's fee on a routed raise.

What is the most expensive part of tokenization?

The offering documents and structuring — not the token, and not the entity. Entity formation is trivial ($110 in Delaware to ~$4K in Cayman) and the on-chain issuance is a flat $1,248. It's the drafting, exemption strategy, and data room where the money goes. The decisive question is who does it: a law firm you pay separately ($50–200K), or a platform whose flat fee includes it. Stobox includes it; most token platforms don't.

Does Stobox's price really include the legal document work?

Yes — the standard Raisable window fee covers the full offering document package, filings, and data room, prepared by Stobox specialists and finalized to broker-acceptance standard. Dedicated outside legal counsel isn't required to produce the offering, but it is good to have for an independent legal opinion and sign-off; you can bring your own attorney into the project for $299/mo, or Stobox will match you to a vetted firm. So 'most of the legal' is in the flat fee; independent counsel is an optional add-on, not a mandatory five-figure engagement.

So what does an issuer actually pay Stobox, all-in?

For a typical single-jurisdiction raise: free to start and score; Intelligence from $0 (Core $499/mo when you need the full record); one Raisable window from $1,499 (which includes the documents); and $1,248 to go fully on-chain in Compass — plus optional professional seats. That's low single-digit to low five-figure thousands in platform cost. The remaining external costs (entity formation, appraisal if needed, optional counsel, broker-dealer fee) apply to any route and are yours to control. Never a percentage of the raise, at any layer.

How can I make tokenization cheaper?

Five levers, in order of impact: (1) arrive with a clean, reconciled cap table and title — messy records are the #1 cost multiplier, whoever prepares the documents; (2) use a platform whose flat fee includes the offering documents rather than paying a firm separately; (3) reuse standard structures (a Delaware SPV, a stacked Reg D + Reg S) rather than bespoke ones; (4) choose the jurisdiction by your investor base once, at the start; (5) order appraisals and confirm banking in month zero. The free Readiness Score exists to attack lever #1 before you spend anything.