1. My order is still pending — what does that mean?
When you place a trade, your order is first submitted to CoWSwap’s off-chain order book. It stays in a pending state until either:
- A solver matches and fills it (with another user’s trade or through liquidity pools), or
- It expires because no suitable match or price was found.
Pending orders are normal — they simply mean your trade is waiting to be filled.
2. What happens if my order expires?
If your input token was ETH or BNB:
The network token (ETH on Ethereum or BNB on BNB Chain) is sent on-chain when you submit the order. If it expires unfilled, it’s automatically refunded to your wallet.If your input token was another token (like USDT):
No funds leave your wallet until the trade is actually executed. If the order expires, nothing changes — your funds remain untouched.
3. I submitted a trade with ETH or BNB but don’t see my Tokenized Stocks, where are they?
You can check the status of your order in the Activity tab of your wallet, or directly in the CoWSwap Explorer by filtering with your wallet address.
Please note:
- CoWSwap orders may take some time to be filled.
- If your order expires, your ETH or BNB will be returned to your wallet.
- If it is filled, the Tokenized Stock will be sent to your wallet.
4. Why is the price of my Tokenized Stock different from what I see on Nasdaq or Google?
The Tokenized Stock tracks the real-world asset 1:1, but differences may occur because:
- On-chain liquidity and solver matching can cause small differences in execution price.
- Quotes outside U.S. stock market hours may be less favorable.
- Over time, dividends, stock splits, and other corporate actions may change the token’s price path compared to the traditional stock.
5. Do I receive dividends from Tokenized Stocks?
No. You do not receive dividend payouts directly. Instead, dividends are accrued inside the price of the Tokenized Stock. This means the token’s price will gradually diverge from the 1:1 value with the traditional stock to reflect dividends and other corporate actions.
6. Can I sell my Tokenized Stocks back into crypto anytime?
Yes, as long as there is an available price quote on CoWSwap. In practice, this means you can sell:
- Generally 24/5 (Sunday evening → Friday evening ET) when global markets are open.
- On weekends too, though liquidity may be lower and prices less favorable.
7. Why do I need to approve a Tokenized Stock once before trading, but not after?
The first time you trade a new Tokenized Stock, you’ll need to approve it on-chain — this is a standard token permission step.
After approval, trades happen off-chain until settlement, so you won’t need to pay additional gas fees (ETH or BNB) for future approvals.
8. I live in the U.S./EU/UK — why can’t I buy Tokenized Stocks?
Due to regulatory restrictions, Tokenized Stocks are not available to users in the U.S., European Union, or United Kingdom. You’ll still be able to see them in the app, but you won’t be able to buy them.
9. How secure are my Tokenized Stocks?
- Backed 1:1 by real assets held with licensed U.S. custodians.
- Verified and overcollateralized by independent third parties.
Protected by audited smart contracts on Ethereum and BNB Chain.
This means your holdings are secure both in the traditional system and on-chain.