According to CoinMeta, eqx and labs have launched a eqx product on the HyperLiquid platform. This product issues tokenized U.S. stocks and ETF tokens in accordance with the hip-1 token standard, supporting 24/7 trading. The eqx tokens are fully backed 1:1 by stocks held by Alpaca, StoneX, and ClearStreet; traders only need to pay the HyperLiquid standard spot transaction fee. These tokens are issued by eqx, spc, and ltd based in the British Virgin Islands and utilize an independent trust structure. Authorized participants can use arbitrage mechanisms to maintain the token price close to the net value of the underlying U.S. stocks.