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June 2, 2026

Anduril Just Doubled Its Valuation to $61B — And It's Not Even Public Yet

The defense tech startup backed by Andreessen Horowitz is raising faster than most companies ever dream of going public. What Just Happened Anduril Industries raised $5 billion in a funding round led by Thrive Capital and Andreessen Horowitz, doubling its valuation to $61 billion. The company doubled revenue in 2025 to $2.2 billion and has now raised more than $11 billion from investors altogether. For context: this is a company you still cannot buy a single share of on any exchange. What Anduril Actually Does Founded in 2017 by Oculus creator Palmer Luckey, Anduril takes a software-first approach to defense — building AI, robotics, and autonomous systems rather than relying on traditional cost-plus government contracts. The product line reads like science fiction made operational: autonomous drones, counter-drone interceptors, AR headsets for soldiers, and a 5-million-square-foot Ohio weapons factory now producing Fury jets — started ahead of its original target date. The contracts back it up. In March 2026, the U.S. Army awarded Anduril a potential 10-year, $20 billion contract for its Lattice AI suite — consolidating over 120 previously fragmented procurement actions into a single framework. The IPO Question Anduril remains privately held. Co-founder Palmer Luckey has said an IPO is "definitely" on the roadmap, suggesting 2026 as a possible year — but no timeline has been formally set. The company is targeting $4.3 billion in 2026 revenue and a public listing "in the next few years." That gap — between a $61 billion private valuation and zero public access — is exactly the kind of situation tokenized Pre-IPO markets are designed to address. Secondary market platforms already show rising demand for Anduril shares among accredited investors. For retail investors in SEA, direct access remains limited for now. Why This Matters Beyond Defense Anduril is the clearest current example of a pattern repeating across tech: the most consequential value creation is happening entirely in private markets, years before any public offering. By the time ANDR hits Nasdaq — whenever that is — the $61 billion will already be the floor, not the ceiling. For informational and educational purposes only. This article does not constitute financial advice.

December 17, 2025

Top Fractional Stock Platforms for 2025: Low Minimums and Low Fees

Fractional shares let you buy a portion of a stock, so you can invest any dollar amount—often $1 to $5—instead of paying the full share price. That’s why fractional stock platforms have become a go-to for beginner investing and anyone building a portfolio with low minimums and commission-free investing. In 2025, investors care most about regulatory clarity, intuitive apps, and global access. Below, we compare top platforms that keep costs low while making it simple to start, and we explain how ToVest’s digitized shares and 24/7 trading expand what’s possible. For a quick primer on how fractional ownership works and the risks to consider, see the SEC’s investor bulletin on fractional shares from Investor.gov. ToVest: Digitized Shares with 24/7 Trading and Regulatory Compliance ToVest is built around digitized shares—securities represented and traded in a fully digital format—to enable efficient execution, near-instant settlement, and continuous market access. Unlike traditional market hours, ToVest supports 24/7 trading alongside cross-border compliance. The platform operates under federal licensing and adheres to FATF-compliant jurisdictions, giving both new and sophisticated investors added confidence in legal safeguards and international reach. What this means for you: Start with small amounts, scale smoothly, and trade on your schedule—not just during Wall Street hours. Faster settlement reduces operational friction and frees up capital sooner. Regulatory alignment across multiple countries broadens access without compromising investor protections. New to fractional investing or tokenized market structure? Explore our guides at the ToVest Academy. Interactive Brokers Interactive Brokers (IBKR) consistently ranks at or near the top for fractional investing because of its extremely low costs, advanced trading tools, and broad market access. IBKR has a $0 account minimum and offers $0 commissions on US-listed stocks and ETFs (with other fees possible depending on plan and venue), making it attractive to small and advanced investors alike, according to Forbes’ best online brokers analysis. Key features at a glance: Fees: $0 commissions on US stocks/ETFs (plan-dependent; other fees may apply) Minimums: $0 account minimum Interfaces: Client Portal (web), Mobile, and Trader Workstation (pro-grade) Research/Markets: Robust research suite with extensive international market access highlighted by BrokerChooser Who it’s for: Beginners who want low costs and a path to advanced tools, and professionals who need global execution and deep analytics. Fidelity Fidelity makes fractional investing highly accessible with a $1 minimum for “Stocks by the Slice” and zero-commission trading on US stocks and ETFs. StockBrokers.com notes that Fidelity marries low trading costs with strong research, education, and user-friendly web and mobile experiences. Fidelity also has a long-standing reputation for customer service and investor education, making it a solid first home for long-term investors and cost-conscious traders. Best for: Beginners who value strong guidance and long-term investors who want premium research without platform fees. Charles Schwab Schwab’s Stock Slices let you buy fractional shares of companies in the S&P 500 starting at $5 per slice, and you can purchase up to 30 companies in a single transaction, as documented by NerdWallet. Schwab combines this beginner-friendly entry point with pro-level charting through thinkorswim and a well-regarded research library. If you want one platform that grows from “getting started” to “advanced,” Schwab is a dependable option with zero-commission US stock and ETF trades. Ideal for: New investors who want a trusted brand and seasoned traders who appreciate advanced charting and educational resources. Robinhood Robinhood popularized commission-free investing with a mobile-first experience that’s easy to navigate. You can buy fractional shares starting at $1, pay $0 commissions on US stocks and ETFs, and get up and running quickly—features that continue to resonate with beginners, as noted by LevelFields’ 2025 app roundup. The platform also supports options and crypto, making it a simple gateway to multiple asset classes in a single app. Best fit: Mobile-first beginners who want a clean interface and fast setup. eToro eToro blends fractional investing with social trading—following, learning from, or copying the trades of experienced investors—so newcomers can learn by observing. BrokerChooser highlights eToro’s low-cost stock and ETF trading, seamless account opening, and access to multiple markets. The social feed, curated portfolios, and community tools help investors compare approaches and stay engaged. Standout community features: CopyTrader to mirror selected investors’ strategies Thematic Smart Portfolios Public performance stats and risk scores Webull Webull offers fractional investing starting from $5, $0 commissions on US stocks and ETFs, and a feature-rich platform that appeals to active, tech-savvy traders. NerdWallet’s broker comparisons point to Webull’s fast account opening and robust mobile/desktop charting. The platform also pays interest on uninvested cash, helping your idle funds do a bit more while you wait for opportunities. Good for: Self-directed traders who want modern tools without platform fees. Zacks Trade Zacks Trade targets investors who prize research depth and customization. BrokerChooser notes its strong research capabilities, a broad selection of stocks and ETFs, and attentive customer service. While not a “gamified” app, it’s well-suited to investors who want to dig into data, tailor their layouts, and focus on analysis-driven decisions with competitive pricing for active trading. Who benefits most: Research-centric investors who value advanced tools and personalized workflows. Alpaca Trading Alpaca is designed for developers and quants who want API trading with fractional shares and commission-free stock/ETF execution. BrokerChooser spotlights Alpaca’s automation flexibility, making it a compelling choice for systematic strategies, bots, and custom dashboards. API trading, simplified: Strategy signal → API order → Broker routing → Execution & fractional allocation → Position update/metrics Why it’s different: You can design and deploy your own trading logic, schedule, and risk controls instead of clicking through a retail UI. SoFi Invest SoFi Invest integrates banking, lending, and investing into one platform, making money management feel cohesive. Fractional trades start at $5, US stocks and ETFs trade at $0 commission, and the interface is geared toward newer investors. NerdWallet’s broker rankings frequently highlight SoFi for simplicity and financial “all-in-one” convenience—valuable if you prefer fewer apps and a single brand relationship. Best for: Beginners and busy professionals who want to manage investments alongside checking, savings, and loans. How to Choose the Best Fractional Stock Platform The right platform balances costs, convenience, and protections. Start with these criteria: Fees: Look for zero trading commissions on US stocks/ETFs; verify any account, FX, or routing fees in disclosures. CNBC’s free-trading overview explains how brokers compete on price. Minimum investment: Many platforms let you start with $1–$5 for fractional shares; lower minimums make consistent investing easier. Asset selection: Check availability of US stocks/ETFs, international markets, options, and crypto where relevant. BrokerChooser’s comparisons detail multi-market access. User experience: Prioritize intuitive mobile/desktop tools, research quality, screeners, and education that match your skill level. Regulatory protection: Confirm brokerage regulation and protections (e.g., SIPC in the US where applicable) and review the SEC’s guidance on fractional shares via Investor.gov. Quick at-a-glance minimums and commissions: Interactive Brokers: $0 account minimum; $0 US stock/ETF commissions (plan-dependent) Fidelity: $1 fractional minimum; $0 US stock/ETF commissions Charles Schwab: $5 Stock Slices; $0 US stock/ETF commissions Robinhood: $1 fractional minimum; $0 US stock/ETF commissions Webull: $5 fractional minimum; $0 US stock/ETF commissions SoFi Invest: $5 fractional minimum; $0 US stock/ETF commissions Definitions: Commission-free: No broker commission charged on eligible trades; other fees (spreads, regulatory, routing) may still apply. Minimum investment: The smallest dollar amount required to place a fractional order. Asset selection: The range of securities you can trade (e.g., US stocks, ETFs, options, international equities). Frequently asked questions What is the minimum investment needed for fractional US stocks? Many top platforms let you start with $1 to $5, so you can begin investing with virtually any budget. How do fractional shares work for small budgets? They let you buy a portion of a stock, allowing you to invest a set dollar amount instead of paying for a full share. Are there any hidden fees with fractional stock platforms? Most leading platforms have eliminated trading commissions, but always review fee schedules for account, FX, routing, or transfer fees. Is fractional share ownership as safe as traditional stock ownership? Yes—fractional shares are typically held in regulated brokerage accounts with the same protections as whole shares, per the SEC’s investor guidance on fractional shares. Can I set up automatic investments with fractional shares? Yes, many platforms support recurring buys so you can dollar-cost average into positions over time.

December 26, 2025

Tokenized Stock Platforms Compared: Fees, Liquidity, and Regulatory Compliance

Tokenized U.S. stocks are opening new paths for global investors to diversify with fractional ownership and 24/7 access. This guide compares leading platforms by fees, liquidity, and regulatory controls, and shows beginners how to buy safely. In short: yes, you can diversify online with tokenized U.S. stocks—but platform models, costs, and compliance vary widely. To choose well, focus on whether tokens are 1:1-backed or synthetic, the full fee stack (not just headline trading fees), and the strength of custody and disclosures. We also profile the top exchanges—including ToVest, Kraken, Binance, and security‑token specialists—so you can match features and risk controls to your goals. Understanding Tokenized Stocks and Their Benefits Tokenized stocks are digital representations of company equities recorded and transferred on blockchains, allowing fractional ownership and round‑the‑clock access to global shares as “blockchain equities” that settle via smart contracts and interoperable rails. Key advantages for accessible investing: Lower minimums with fractional ownership—often starting around $1—so you can build positions gradually across tickers. 24/7 market access and faster, programmable settlement through smart contracts, independent of traditional exchange hours. Broader diversification across global markets without opening multiple local brokerage accounts. How Tokenized Stock Platforms Differ Tokenized stock platforms follow three main models that shape your rights, transparency, and risk: 1:1‑backed tokens: Each token is backed by an equivalent real share held in regulated custody, granting you economic exposure and, in some cases, programmatic corporate actions. Synthetic tokens: No underlying share is held. Tokens track the stock’s price via oracles and collateralized positions—delivering exposure, not ownership. Hybrids: Combine elements—for example, partially reserved backing with derivative hedges. See the model taxonomy in the CoinGecko guide. Custodial model means who holds the underlying assets (e.g., a regulated custodian for 1:1‑backed tokens). A synthetic asset is a token engineered to mirror an asset’s price without owning it directly. How the model affects you: Legal rights: 1:1‑backed approaches aim to confer ownership-derived economics; synthetics provide price exposure only (no shareholder rights). Settlement and transparency: On-chain transfers can enable near‑instant settlement with transparent reserves and oracle feeds, depending on disclosures and audits. Model comparison at a glance: Comparing Fees Across Leading Tokenized Stock Platforms Understand the total cost of ownership—not just “zero trading fees.” Your all‑in cost often includes: Trading commissions or maker/taker fees Spreads (the hidden cost if liquidity is thin) Custody or account fees (especially for security‑token venues) Network gas for on‑chain transfers Fiat and crypto on‑ramps/off‑ramps, including conversion costs Industry research suggests tokenized platforms can reduce transaction costs by roughly 40% versus traditional brokerages, mainly by compressing overhead and settlement frictions. Some exchanges advertise zero trading fees on select tokenized stocks, such as Kraken for certain listings, while spreads and funding fees still apply. Platform cost comparison (representative, subject to change): Evaluating Liquidity and Market Access on Tokenized Stock Exchanges Liquidity refers to how quickly and easily an asset can be bought or sold at stable prices. Tokenized stocks benefit from 24/7 trading and, when synthetic, can plug into DeFi liquidity pools—broadening access beyond traditional exchange hours. However, liquidity can fragment across venues: larger exchanges tend to show deeper books than smaller issuers, and synthetic pools may vary widely in depth. Market trackers have reported tokenized stock market values in the tens of millions on certain chains, with peaks around the $47.5M level depending on listings and conditions. Indicative liquidity snapshot: Regulatory Compliance and Custody Models Regulated custody means underlying assets are held by supervised custodians subject to capital, audit, and segregation rules. Proof‑of‑reserve is a cryptographic or attestation‑based method to show that tokens are fully backed by reserves held in custody—boosting transparency and trust. Most compliant platforms enforce KYC/AML checks, jurisdictional access controls, and ongoing disclosures of listing structures and custody arrangements. Security‑token specialists like tZERO and Securitize prioritize regulated issuance, investor accreditation checks where relevant, and automated corporate actions, while crypto‑centric exchanges optimize for global reach and 24/7 liquidity. Regulatory risk remains: legal protections differ by geography, and some products confer price exposure without shareholder rights. Before choosing a platform, check: Token model (1:1‑backed vs synthetic) and what rights you actually have Custody setup, proof‑of‑reserve or audits, and segregation of client assets Full fee schedule and spread transparency KYC/AML, jurisdictional availability, and corporate action handling Historical uptime, incident reporting, and liquidity on your target tickers Top Platforms for Buying Tokenized U.S. Stocks Tokenized stock platforms span compliance‑first security‑token exchanges and crypto‑native venues with broad access. Compare the model, fees, liquidity, and jurisdictional alignment to find your best fit. Quick comparison: ToVest ToVest is a blockchain‑powered, crypto‑friendly venue for U.S. stock tokens with real‑time market data, protocol‑grade transparency, and institutional‑style execution. It caters to both advanced retail and professional users with sophisticated portfolio analytics, accessible leverage and margin, and secure fiat/crypto on‑ramps. Explore capabilities and governance standards on the ToVest About page and see our beginner guidance in the Academy guide. Kraken (xStocks) Kraken offers a broad catalog (50+ tokenized stocks), a 1:1‑backed model with regulated custody, and zero trading fees on select pairs—appealing to cost‑sensitive traders seeking robust venue depth. Liquidity is typically strongest on major tickers during global trading hours. Binance Binance blends TradFi and DeFi access pathways, including wallet‑rail launches of on‑chain stock trading that have featured zero‑minimum or promotional fee structures at times. Users benefit from fractional access and broad tickers, with availability subject to jurisdictional limits. Bybit and KuCoin These fast‑growing exchanges list expanding xStock offerings with USDT pairs and global access, though regional restrictions apply. Liquidity is generally good on top names and variable on long‑tail assets; integrations with on‑chain tooling continue to evolve. Gemini Gemini emphasizes regulatory standards, transparency, and investor education, offering extensive materials explaining how asset‑backed and synthetic models work and the trade‑offs for users. Product availability and structures may vary by partner and region. tZERO and Securitize As security‑token specialists, tZERO and Securitize focus on regulated issuance and compliant secondary trading, including programmable corporate actions such as dividends or voting where supported by issuers. These venues appeal to investors prioritizing investor‑protection protocols and auditable custody. Mirror Protocol Mirror exemplifies a DeFi‑native, synthetic approach—tokens track U.S. stock prices on‑chain via oracles and collateral, offering around‑the‑clock access with programmable constraints. The trade‑off is liquidity fragmentation and the absence of shareholder rights. How Beginners Can Buy Tokenized U.S. Stocks Safely Beginner’s guide to tokenized stocks: Choose a transparent, regulated provider like ToVest; confirm whether tokens are 1:1‑backed or synthetic and review disclosures. The ToVest Academy guide outlines key terminology. Create your account and complete KYC/AML verification. Fund via fiat or cryptocurrency; confirm on‑ramp and withdrawal options and any conversion costs. Select U.S. stock tokens, review spreads and fees, and place fractional orders with appropriate risk controls. Before investing, verify custody setup, proof‑of‑reserve or audits, fee schedules, and incident history. For market context, see our market trends brief. Exchanges Offering Regulated Tokenized U.S. Stocks for Global Investors A regulated exchange is a venue supervised by financial authorities, following licensing, reporting, and client‑asset rules. Cross‑border tokenized assets are tokens designed for compliant access by investors in multiple jurisdictions with KYC/AML and geographic controls. At‑a‑glance compliance snapshot: Always confirm your local eligibility and the product’s legal classification in your jurisdiction. Frequently Asked Questions Can I diversify my portfolio by buying tokenized U.S. stocks online? Yes. Fractional access and 24/7 markets make it easy to spread small allocations across multiple U.S. tickers and sectors. What fees should I expect when trading tokenized stocks? Expect spreads, trading commissions (if any), custody charges, on/off‑ramp costs, and network gas; check the full schedule to compare total costs. How do tokenized stocks maintain liquidity compared to traditional stocks? Around‑the‑clock trading and DeFi integrations can support liquidity, but depth varies widely by platform and ticker. Are tokenized stocks legally compliant and safe to hold? Leading platforms use KYC/AML and regulated custody, but protections differ by model and jurisdiction—review disclosures before investing. What should beginners look for in a reliable tokenized stock platform? Confirm 1:1 backing vs synthetic exposure, regulated custody, proof‑of‑reserve or audits, clear fees, and robust security processes.