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Can you store tokens in any Stellar wallet like erc20 tokens in an Ethereum wallet?

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Tokens are "stored" in the ledger not in a wallet. You can use a wallet to manage and transfer them with a better UI.

In stellar terms your tokens are Assets. They begin to "exist" on the ledger when somebody trusts the issuer who "created" them by setting a trustline first and then they receive a payment with that asset type. It's all about trust.

You can find more information about tokens in the blog.

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