[{"data":1,"prerenderedAt":347},["ShallowReactive",2],{"api/learn-center-post-en-what-are-synthetic-assets":3,"footer-en":57,"learn/blockchain/what-are-synthetic-assets-en-seo":255,"navigation-en-learn-center":260,"api/learn-categories-en":308},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":39,"title":5,"formattedPublishedAt":50,"geofencings":51,"category":52,"pagination":54,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What are synthetic assets?","What are synthetic assets?| Bitstamp by Robinhood","What are synthetic assets? How do synthetic assets work? Read our guide to synthetic assets on Bitstamp by Robinhood – the original crypto exchange.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/What_are_synthetic_assetspng_1dd03d5557_b088b8bc07.png","image/png",".png",1920,1080,"What_are_synthetic_assetspng_1dd03d5557.png","",[],[20,23,26],{"pathname":21,"locale":22},"/en-gb/learn/blockchain/what-are-synthetic-assets/","en-GB",{"pathname":24,"locale":25},"/es/learn/blockchain/what-are-synthetic-assets/","es",{"pathname":27,"locale":28},"/learn/blockchain/what-are-synthetic-assets/","en",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/blockchain/","Blockchain technology",true,{"id":35,"text":5,"url":27,"asUrl":36},"what-are-synthetic-assets",false,"\u003Cp>Synthetic assets are tokenized representations of other assets—both digital and real-world in nature—that exist on the blockchain.\u003C/p>\n",{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},[40],{"component":41,"props":42,"content":43,"secondaryContent":47,"ctas":48,"secondaryCtas":49,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":44,"width":45,"align":46},"\u003Cp>Government bonds and shares of stock used to be pieces of paper held by their owners. In a broader financial sense, money was previously backed by (and redeemable for) gold. However, these financial instruments are now 1’s and 0’s on servers, yet they serve the same roles as they did before their digitization.\u003C/p>\n\u003Cp>The increasing global reliance on digital resources, such as storage and computational processing, has meant that more real-world assets have moved “online” over the years.\u003C/p>\n\u003Cp>\u003Cstrong>Synthetic assets\u003C/strong>, or \u003Cstrong>synths,\u003C/strong> are a natural evolutionary step in this process. In crypto, the term is used more broadly to describe cryptocurrency tokens that \u003Cem>also\u003C/em> represent real-world assets (like currencies, stocks, or commodities) or non-native cryptocurrencies (like Bitcoin on another chain). This is the more inclusive definition that will be explored here.\u003C/p>\n\u003Cp>In sum, synthetic assets are financial instruments that are meant to simulate other assets in a different setting or for an alternate use. They grant market participants unique exposure to those assets for trading purposes.\u003C/p>\n\u003Ch3>In traditional finance\u003C/h3>\n\u003Cp>\u003Ca href=\"/learn/crypto-trading/what-are-derivatives/\">Derivatives\u003C/a> are frequently used to simulate trading “underlying” assets (i.e. the assets from which they derive their value), and through these financial instruments traders can hedge their strategies and/or use varying degrees of leverage.\u003C/p>\n\u003Cp>Certain trades using derivatives are explicitly called \u003Cstrong>synthetic positions\u003C/strong>. For instance, a \u003Cem>synthetic call\u003C/em> involves buying shares of stock plus a put option contract to protect against downside risk. Alternatively, \u003Cem>synthetic bonds\u003C/em> are made up of multiple assets and are meant to act in a similar way to corporate bonds. In this way, combinations of buying derivatives and other assets can synthetically recreate strategies of trading other financial instruments.\u003C/p>\n\u003Ch3>In cryptocurrency\u003C/h3>\n\u003Cp>The traditional finance definition of synthetic assets certainly applies to the cryptocurrency space, as well. However, as previously mentioned, this is not the only way of using the term.\u003C/p>\n\u003Cp>Synthetic assets in crypto are also tokenized representations of other cryptocurrencies on their non-native chains or digital versions of real-world assets. This allows traders to get exposure to off-chain or real-world assets on a platform where they do not otherwise exist—and therefore the assets exist only \u003Cem>synthetically\u003C/em> on-chain.\u003C/p>\n\u003Ch2>What synthetic assets can be traded?\u003C/h2>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Cstrong>Fiat currencies\u003C/strong> – As one of the most important pieces of \u003Ca href=\"/learn/web3/what-is-decentralized-finance-defi/\">decentralized finance (DeFi)\u003C/a>, fiat \u003Ca href=\"/learn/crypto-101/what-are-stablecoins/\">stablecoins\u003C/a> are synthetic representations of real-world currencies. They provide synthetic, blockchain-based exposure to the US Dollar, the Euro, and other currencies through either centralized backing (by cash or cash equivalents) or overcollateralization (as with \u003Ca href=\"/learn/cryptocurrency-guide/what-is-makerdao-mkr/\">MakerDAO\u003C/a>’s \u003Ca href=\"/learn/cryptocurrency-guide/what-is-the-dai-stablecoin/\">DAI\u003C/a>).\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Off-chain crypto\u003C/strong> – Do you want to be able to trade Bitcoin on the Ethereum blockchain or its layer 2 solutions? Because Bitcoin calls another blockchain home, this would not be possible without assets like \u003Ca href=\"/learn/cryptocurrency-guide/what-is-wrapped-bitcoin-wbtc/\">wrapped Bitcoin (WBTC)\u003C/a>. Wrapped Ether (WETH) similarly grants exposure to ETH to users of \u003Ca href=\"/learn/cryptocurrency-guide/what-is-polygon-matic/\">Polygon’s\u003C/a> sidechain and many other networks.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Commodities\u003C/strong> – Paxos issues PAXG, a token that is linked to the price of gold and is backed by physical gold. Other commodities like silver and platinum have been tokenized, as well.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Financial derivatives\u003C/strong> – Just as the traditional finance system has watched the growth of derivative trading, futures and options have also been introduced to the crypto space, both offered by centralized services and DeFi protocols like Opyn and Hegic.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Stocks\u003C/strong> – Some smart contract-based protocols provide users the opportunity to mint and trade blockchain-based, synthetic versions of stocks. The tokenization and blockchain-based trading of stocks has been a hot topic in equity markets, but its adoption has been tempered by questions of regulatory compliance.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Inverse cryptocurrencies\u003C/strong> – Operating like inverse exchange-traded funds (ETFs) in TradFi, the price action of these tokens opposes the natural movement of other cryptocurrencies. For instance, an inverse BTC product may decrease by 5% when the price of BTC increases by 5%.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Real estate\u003C/strong> – Houses have been tokenized as \u003Ca href=\"/learn/web3/what-are-nfts-non-fungible-tokens/\">non-fungible tokens (NFTs)\u003C/a> so that their ownership can be transferred on the immutable record of the blockchain. One such house was sold in South Carolina for $175,000 in 2022.\u003C/p>\n\u003C/li>\n\u003C/ul>\n\u003Ch2>How do synthetic assets work?\u003C/h2>\n\u003Cp>So far, there are a few main ways that synthetic assets are created—or \u003Cstrong>\u003Ca href=\"/learn/web3/what-is-nft-minting/\">minted\u003C/a>\u003C/strong>—as tokens on a blockchain. All are intended to take advantage of the immutability and transparency of blockchain-powered technologies. This way, users can verify when each individual token is minted, burned, or traded. Still, some synthetic assets are supported by centralized services or companies, while others exhibit different gradations of decentralization.\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Cstrong>Centralized issuance\u003C/strong> – Many stablecoins are issued by companies who hold cash or cash equivalents to insure the value of their tokens. Examples of this include Circle’s USDC and Tether’s \u003Ca href=\"/learn/cryptocurrency-guide/what-is-tether-usdt/\">USDT\u003C/a>.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Smart contract custodians\u003C/strong> – In order to tokenize an asset on a non-native blockchain, users must have a custodian hold (or burn) that asset as 1:1 collateral. The Wrapped ETH smart contract is a trustless way to accomplish this process, allowing users to convert ETH to WETH and vice versa.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Overcollateralization\u003C/strong> – In order to mint the DAI stablecoin, users must deposit a certain value of crypto assets into the issuing platform’s (Maker’s) smart contracts. This value must always be more than the value of DAI created—even accounting for market price fluctuations—which ensures no DAI will ever be un-backed. The \u003Ca href=\"/learn/cryptocurrency-guide/what-is-synthetix-snx/\">Synthetix\u003C/a> platform relies on a similar model, allowing users to mint synthetic assets as long as they overcollateralize their withdraws with its native SNX token. Mirror protocol also operated on this model—before \u003Ca href=\"/learn/crypto-101/terra-network-collapse/\">the demise of the Terra blockchain\u003C/a>.\u003C/p>\n\u003C/li>\n\u003C/ul>\n\u003Ch2>What challenges do synthetic assets face?\u003C/h2>\n\u003Cp>Certain synthetic assets have relatively “safe,” established roles in crypto. Wrapping protocols, for instance, improve the ability for users to trade crypto like ETH and BTC across chains—a necessary function in DeFi. However, there is still some regulatory uncertainty surrounding fiat-backed stablecoins. Moreover, the future of tokenization of other instruments like stocks and financial derivatives remains even murkier.\u003C/p>\n\u003Cp>All things considered, blockchain-based synths are relatively new, and their development has been rapid. This means that their use will change significantly both as the technology develops further and as the world learns more about their role in crypto.\u003C/p>\n\u003Ch2>Synthetic assets essentials\u003C/h2>\n\u003Cul>\n\u003Cli>\u003Cp>Synthetic assets (synths) are representations of real-world assets, cryptocurrency products, or financial instruments that are tokenized on the blockchain\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>Some examples of synthetic assets include: stablecoins (like USDC), commodities (PAXG), crypto (WETH), financial derivatives (options), and tokens that mimic stocks\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>Synthetic assets are created (or “minted”) on a blockchain in a number of ways such as by centralized issuance, overcollateralization, or smart contract custodians\u003C/p>\n\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"August 25th, 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3TW",{},{},{"noFollow":36,"isExternal":36,"name":206,"value":17,"isEmail":36,"isPhoneNumber":36,"isText":33,"showOnDesktop":33,"showOnMobile":33,"attachment":207,"geofencings":208},"United Kingdom",{},{},{"title":210,"content":17,"items":211},"Contact",[212,217,221,225,229,233,238,243,248],{"noFollow":36,"isExternal":36,"name":213,"value":214,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":215,"geofencings":216},"Customer support","/customer-support/",{},{},{"noFollow":36,"isExternal":36,"name":218,"value":218,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":219,"geofencings":220},"info@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":222,"value":222,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":223,"geofencings":224},"press@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":226,"value":226,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":227,"geofencings":228},"support@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":230,"value":230,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":231,"geofencings":232},"complaints@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":234,"value":235,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":236,"geofencings":237},"+44 20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":239,"value":240,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":241,"geofencings":242},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":244,"value":245,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":246,"geofencings":247},"+352 20 88 10 96","+35220881096",{},{},{"noFollow":36,"isExternal":36,"name":249,"value":250,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":251,"geofencings":252},"+65 3105 1676","+6531051676",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"description":7,"ogDescription":7,"ogImage":256,"twitterImage":256,"twitterSite":257,"twitterCreator":257,"twitterCard":258,"twitterTitle":6,"twitterDescription":7,"titleTemplate":259},"https://assets.bitstamp.net/msc/_ipx/enlarge_true&f_png&fit_cover&q_85&s_1200x630/bitstampImageUrl/What_are_synthetic_assetspng_1dd03d5557_b088b8bc07.png","@Bitstamp","summary_large_image","%s",{"items":261,"ready":33,"platformButtonText":304,"backButtonText":305,"logInButtonText":306,"signUpButtonText":307},[262,266,270,273,276,279,282,287,290,295,300],{"headerName":263,"sidemenuName":134,"url":135,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":264,"submenu":265,"tag":17},"Institutions",{},[],{"headerName":126,"sidemenuName":126,"url":127,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":267,"submenu":268,"tag":269},{},[],"NEW",{"headerName":149,"sidemenuName":149,"url":150,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":271,"submenu":272,"tag":17},{},[],{"headerName":106,"sidemenuName":106,"url":107,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":274,"submenu":275,"tag":17},{},[],{"headerName":116,"sidemenuName":116,"url":117,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":277,"submenu":278,"tag":17},{},[],{"headerName":121,"sidemenuName":121,"url":122,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":280,"submenu":281,"tag":17},{"geofencing-uk":33},[],{"headerName":283,"sidemenuName":283,"url":284,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":285,"submenu":286,"tag":17},"Markets","/markets/",{},[],{"headerName":111,"sidemenuName":111,"url":112,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":288,"submenu":289,"tag":17},{},[],{"headerName":291,"sidemenuName":291,"url":292,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":293,"submenu":294,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":296,"sidemenuName":296,"url":297,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":298,"submenu":299,"tag":17},"Learn","/learn/",{},[],{"headerName":301,"sidemenuName":301,"url":107,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":302,"submenu":303,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[309,311,315,319,323,327,331,335,339,343],{"title":32,"url":31,"geofencings":310},{},{"title":312,"url":313,"geofencings":314},"Company profiles","/learn/company-profiles/",{},{"title":316,"url":317,"geofencings":318},"Crypto 101","/learn/crypto-101/",{},{"title":320,"url":321,"geofencings":322},"Crypto definitions","/learn/crypto-definitions/",{},{"title":324,"url":325,"geofencings":326},"Crypto trading","/learn/crypto-trading/",{},{"title":328,"url":329,"geofencings":330},"Cryptocurrency guide","/learn/cryptocurrency-guide/",{"geofencing-uk":33},{"title":332,"url":333,"geofencings":334},"People profiles","/learn/people-profiles/",{},{"title":336,"url":337,"geofencings":338},"Security","/learn/security/",{},{"title":340,"url":341,"geofencings":342},"Tutorials","/learn/bitstamp-tutorials/",{},{"title":344,"url":345,"geofencings":346},"Web3","/learn/web3/",{},1777532279598]