Does Bitcoin Cash have tokens?

Yes. Since the CashTokens upgrade that occurred on May 15, 2023; native, miner-validated tokens are now possible on Bitcoin Cash. CashTokens introduced fungible and non-fungible token primitives into the Bitcoin Cash protocol. CashTokens have all the same great qualities as Bitcoin Cash itself, including fast validation and inexpensive transactions. CashTokens enable increased smart contract functionality on Bitcoin Cash.

CashTokens were preceded by another token system - the Simple Ledger Protocol (SLP). SLP tokens were not miner-validated and relied on external nodes to track every transaction and validate balances. SLP tokens became computationally expensive, unreliable, and could not interact with the Bitcoin Script virtual machine. Thus, lessons were learned and applied to eventually create CashTokens.