US Stock Token Competition Heats Up, HTX Takes On Trading Costs With "Zero Fees"

The supply of US stock tokens is rapidly increasing, yet the trading market may not necessarily become simpler as a result.

According to RWA.xyz statistics, as of November 11, 2026, the total value of tokenized stock assets is approximately $3.88 billion, representing a 13.41% increase over 30 days. These assets are distributed across various issuance systems and blockchain networks, tradable both on centralized exchanges and increasingly within wallets and decentralized exchanges.

For users, after considering the increased options, there remains a practical calculation to make: when participating in the price movements of Nvidia or Tesla, which platform one trades on, which version of the token one selects, how much in fees will be incurred, and what execution prices can be achieved?

Recently, leading legacy exchange HTX announced the launch of spot trading for US stock tokens, encompassing USDT spot pairs for 20 related tokens including US stocks and ETFs such as NVDA, TSLA, GOOGL, MSTR, and QQQ.

In an era where major CEXs are aggressively expanding their territories and product homogenization is intensifying, HTX has chosen to directly address the most sensitive trading pain point—the "fee structure"—attempting to reshape the entry point for US stock token trading through extreme cost advantages.

Fee Structure Reconstruction: Fee Differences Must Be Viewed Against Turnover

For users requiring high-frequency swing trading or continuous portfolio rebalancing, trading costs are not a one-time experience but rather hidden losses that compound with transaction volume. Below are the publicly disclosed spot fee rates and promotional conditions for stock tokens on several mainstream platforms:

Figure: Spot fee rates and promotional conditions for stock tokens on selected mainstream platforms (as of November 11, 2026, compiled based on standard user rates and applicable promotions; trading mechanisms and service scopes vary by product. Actual rates and eligibility are subject to the respective platform pages)

HTX's fee scheme provides a clear path to cost reduction for users with different trading habits:

• Maker (Limit Trader): Benefits from a direct 0% fee policy, saving repeatedly incurred friction costs with each position adjustment.
• Taker (Market Trader): According to the platform's published plan, during a specified initial one-month rebate cycle, if your single-day valid trading volume reaches 10,000 USDT and meets campaign rules, you will receive a 100% fee rebate, effectively achieving "zero-cost" trading across all scenarios.

Placing these fee differences into real trading scenarios makes the accounting crystal clear.

Take a cumulative turnover of 1 million USDT as an example (counting buys and sells separately): At the highest fee platform charging 0.20%, trading fees alone would amount to 2,000 USDT; even at the industry-low rate of 0.05%, the cost still reaches 500 USDT.

At HTX, however, if all these transactions are completed via limit orders (Maker), the corresponding trading fees drop to zero directly, effectively saving traders a pure profit.

From Zero Fees to High Depth: Leveraging Cost Advantages to Drive a Positive Liquidity Cycle

For traders, fees are a key factor influencing actual trading costs; for trading platforms, the value of a fee mechanism extends far beyond lowering entry barriers, residing more importantly in its potential impact on market liquidity supply.

This is especially true in emerging markets like US stock tokens, where trading depth, bid-ask spreads, and order execution efficiency are still continuously improving. How to attract more liquidity providers to place limit orders and increase the effective depth of the order book has become a crucial challenge for platforms seeking to enhance market competitiveness.

From this perspective, HTX's introduction of "Zero Maker Fees" aims not only to subsidize retail investors but also provides more attractive trading cost conditions for professional market makers, quant teams, and other high-frequency limit order participants.

In the early stages of emerging assets like US stock tokens, order book depth often dictates whether large capital stays or leaves. By directly eliminating the limit order costs for market makers, HTX can attract external professional liquidity injections in a very short timeframe, rapidly compressing bid-ask spreads.

When order book depth becomes sufficiently thick, slippage costs for both retail users and large capital subsequently decrease, thereby forming a positive liquidity cycle characterized by "zero fees, high depth, and low slippage."

In an Era of Homogenization, Every Cent Saved Represents a Competitive Edge

Compared to platforms like Binance, Bybit, and Bitget, HTX entered the US stock token spot market relatively late. However, for traders, who launched first is not the core issue; whoever has the lowest trading friction wins.

As core assets like Nvidia, Tesla, and QQQ gradually become "standard offerings" across major trading platforms, the assets themselves are no longer scarce. Users' selection criteria will quickly converge to the most straightforward trading costs. Armed with the combined strategy of "Long-term Maker fee waivers + Full Taker rebate upon meeting thresholds," HTX has directly broken through the industry's existing fee floor.

Using tangible fee concessions to win over user trading habits is precisely how the latecomer HTX plans to break ground and capture the primary market for US stock tokens.

Note: The content of this article does not constitute investment advice, nor does it represent an offer, solicitation, or recommendation for any investment product.

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