Nokia

• A blockchain token designed to track the price of Nokia Corporation (NYSE: NOK).

• It is not a share. Holding the token does not confer ownership of the company, voting rights, or a direct claim against it.

• It offers fractional, round-the-clock price exposure without opening a foreign brokerage account.

• Founded: 1865

• Headquarters: Espoo, Finland

• CEO: Justin Hotard (since April 2025)

• Listed on: NYSE (NOK) and Nasdaq Helsinki

• Sector: Telecommunications equipment

• Nokia supplies mobile and fixed telecommunications network equipment.

• It holds a large portfolio of cellular standards patents that generate licensing revenue.

• It is one of the principal Western alternatives to Chinese network equipment vendors.

• Network Infrastructure sells optical, IP routing and fixed broadband equipment, strengthened by the Infinera acquisition.

• Mobile Infrastructure sells radio access and core network equipment.

• Nokia Technologies licenses its patent portfolio for high-margin revenue.

• You get price exposure to the underlying instrument.

• You do not get shareholder voting rights.

• Dividend or distribution treatment depends on the issuer's structure and is often not passed through.

• You take on issuer and custodian risk in addition to the price risk of the underlying.

Pros:

• Optical and IP products give it AI data centre exposure.

• Patent licensing is highly profitable.

• NVIDIA has invested in the company.

Cons:

• Mobile network spending has been weak.

• It competes with Ericsson and Huawei.

• Restructuring is ongoing.

• Counterparty risk: if the issuer or custodian fails, the backing may not be recoverable.

• Tracking risk: the token price can diverge from the underlying, particularly outside US market hours when the underlying does not trade.

• Liquidity risk: on-chain liquidity is thinner than the underlying market, so spreads can widen sharply.

• Regulatory risk: India does not yet have a settled framework for tokenised equities, and tax treatment remains unclear.

• Price risk specific to the underlying instrument.