Cryptocurrency exchange Gemini has begun offering tokenized equities to clients in the European Union, starting with an on-chain version of MicroStrategy Inc. shares. The new product records ownership of the stock on the Arbitrum blockchain while tracking the price of the underlying Nasdaq-listed security. Gemini said additional tokenized stocks and exchange-traded funds will be introduced in the coming days, expanding the bridge it is building between traditional equity markets and digital-asset trading. The rollout positions the exchange to compete with rivals that have been experimenting with similar synthetic equity offerings for investors outside the United States.