what's xStocks?
xStocks is a platform for tokenized real-world assets, specifically providing ERC-20 representations of U.S. stocks and ETFs on the blockchain. Developed by Backed, it enables global investors to trade fractional shares of companies like Apple, Tesla, and Nvidia 24/7 without traditional market hours or intermediaries, leveraging Solana and Ethereum for DeFi integration. The tokens are fully backed 1:1 by underlying securities held in custody, ensuring redeemability and compliance. Users can transfer, stake, or use them in DeFi protocols, bridging traditional finance with crypto ecosystems. Launched in 2025, xStocks partners with exchanges like Bybit and Kraken to democratize access to equities, focusing on permissionless, borderless trading while maintaining regulatory standards through Swiss-based issuance.
xStocks integrates RealClaw, enabling automated buying, liquidity pooling, and yield/xPoints earning.
Links
x.com/xstocksfiIntegrated with RealClaw agent platform, enabling users to buy xStocks, deploy them into liquidity pools, and earn yield and xPoints through automated strategies.
Holds USDC supplied capital as part of Kamino's Elemental USDC Optimizer vault, which deploys across Prime, Huma, and xStocks markets with $11M+ total USDC supplied.
Launched 150,000 USDT reward program on Mantle to Bybit for tokenized stock depositors, offering up to 100% APR and daily lucky draws.
Launched on Mantle network as a liquidity layer for tokenized equities TSLA, NVDA, AAPL, META, enabled by Backed and Flowdesk, offering 24/7 trading.
QQQx ranks as the second most-traded token on Wasabi protocol for the week ending April 3, 2026, excluding major tokens.
Integrated with Fluxion network on Mantle for swapping and liquidity provision of tokenized stocks.
Listed on CryptoSlate Coins tracking platform with tokenized stocks COINX (Coinbase), MRVLX (Marvell), and QQQX (Nasdaq ETF).
Provides tokenized U.S. equities TSLAx and NVDAx that back the rwaUSD stablecoin issued by multiplifi, which has over $340M in total value and uses Chainlink for cross-chain distribution.
Crossed $25M in total market size on Kamino Finance, where tokenized equities (SPYx, QQQx, TSLAx, NVDAx, GOOGLx, MSTRx) are used as collateral for borrowing.
AAPLx vault is paying 14.19% APY and TSLAx vault is paying 6.17% APY on Wasabi protocol from trading fees.
HTX listed futures contracts for TSLAX, CRCLX, MSTRX, and HOODX tokens on March 31, 2026. Partnered with HTX for a "Tokenized US Stock Futures Carnival" promotion offering free positions and rewards up to 5,030 USDT.
Launched Morpho Ethereum market on 2026-03-31 with SPYx RWA collateral, $10M AUSD liquidity, 86% LTV, 15% borrow incentives, partnered with Agora and curated by Flowdesk. Integrated tokenized shares with Raydium, Byreal, Wasabi Protocol, and Morpho, leading to SPYx ranking as most-traded token on Wasabi for week ending April 3, 2026.
Listed in a curated "2026 Airdrops to bookmark" list as a tokenized equities/RWA project backed by Kraken.
Joined the Ethereum Economic Zone initiative alongside multiple Ethereum ecosystem projects including Aave, CoWSwap, Safe, Linea, and others.
Tokenizes Fundrise's VCX fund through Kraken as $VCXx, providing exposure to private tech companies including SpaceX, OpenAI, and Anthropic onchain.
Shows growth on the Mantle chain alongside other protocols.
Sponsored EthCC[9] as EMERALD-tier. Val Gui presented March 30, 2026, on programmable onchain capital markets.
Surpassed 100,000 unique onchain holders, ranking as the most widely held tokenized stocks.
Launched tokenized stocks (AAPL, TSLA, NVDA) on Bybit Trading Bot, spot, and earning products, and introduced a DCA tool.
Collaborates with @spreads_fi and @inkonchain to build an ecosystem around tokenized equities in DeFi.
Partnered with EDEL, with major players launching on the EDEL platform.
Integrated BackedFi's bToken tokenized equities to xStocks equivalents for 1:1 swaps on Ethereum Mainnet via CoW Swap and bTokens Bridge. Backed Assets (JE) Ltd, the bToken issuer, is owned by Backed Finance (acquired by Payward/Kraken's parent); bTokens wind down by end of 2026.
Powers Flash Trade's equity perpetuals platform, launched on Solana, offering stocks including AMZN, AMD, NVDA, AAPL, PLTR, TSLA with up to 20x leverage.
Integrated with Titan Exchange for swapping xStocks tokens such as SPYX and TSLA
Integrated with Piggy platform where depositing SPYX earns 5x OINKS rewards plus approximately 10% APY while automatically earning x-points
Lists over 100 tokenized US stocks and ETFs for trading on Kraken.
Listed by Token Terminal as an issuer making Mag7 stocks globally accessible through tokenization, alongside Ondo Finance and Robinhood.
Wallet BEMa8Y realized over $40,000 profit trading $CRCLx and $3,000 trading $MSTRx tokenized stocks with 100% win rate.
Partners with Apyx to provide tokenized representations of preferred equity (STRC) shares.
Has a median transfer size of $10-$22 for tokenized equity transactions.
AAPLx token is available for trading on Bungee Incognito platform.
Hosted hackathon on March 31, 2026, focused on building applications for tokenized stocks onchain, with $75,000 in prizes, supported by 1inch.
USDC incentives are currently live for lenders.
Contributed a significant portion of the over $1.6 billion in RWA volume processed through Raydium, alongside Onre and Figure's PRIME.
Launched xPoints rewards program on March 11, 2026, on Solana, live across DEXs including Byreal, integrating with Orca for paired pools starting March 17, 2026.
Launched Portfolio Liberation campaign with $50,000 prize pool via Telegram bot, rewarding users for completing educational tasks and onchain actions related to tokenized assets.
Holds 27.4% market share in onchain stocks with $1B total value, including $800M on Solana brought onchain with Ondo Finance, as of March 24, 2026.
Scheduled to launch tokenized equity trading with 24/7 availability, instant settlement, and full shareholder rights including proxy voting in 2027, pending SEC approval.
Partnered with Nasdaq and Payward on a framework to connect Nasdaq's tokenized equity markets with Solana DeFi, with Kraken for European distribution.
xStocks become available on Polytrade marketplace via Solana, offering tokenized exposure to stocks including Tesla, Robinhood, Nasdaq, and MicroStrategy.
xChange is coming to byreal.io
Tokenized stocks trade onchain, powered by xChange Atomic RFQ, via CoW Protocol alongside other RWA tokens with batch auction settlement.
Integrated with 1inch Swap API for swaps of tokenized equities with best execution pricing, MEV protection, and gas optimization.
Integrated with LI.FI protocol through xChange, enabling access to tokenized stock market liquidity with atomic settlement and instant liquidity features.
Participates in an event in Cannes alongside Euler Finance.
Partnered with 0x to integrate 0x RFQ for compliant, tokenized stock trading onchain.
Reached 20,400 holders for TSLAx.
Reached $270M total market cap across over 100 tokenized stocks and ETFs, up 40% year-to-date in 2026 and growing 9x from launch.
Integrated with Jupiter for trading over 75 tokenized stocks, ETFs, and commodities, and with Kraken for improved trading rates through xChange liquidity across SVM and EVM chains.
Collaborated with Kraken exchange on a giveaway campaign distributing NVDAx tokens, scheduled to close on 2026-03-04.
Reached cumulative DEX volume of $1.1 billion, with over $50 million settled through Wasabi Protocol since November 18th, 2025.
Launched perpetual futures trading for $TSLAx, $AAPLx, $NVDAx, $HOODx, major indices, gold, and leading stocks on Kraken Pro on February 25, 2026, with up to 20x leverage and 40+ collateral options for eligible non-U.S. traders in 110+ countries.
Enabled users in rural China to access and purchase on-chain stocks through Phantom wallets during Chinese New Year 2026.
integrated into Hustle UI's new Stocks section alongside PreStocks and rStocks
Margin trading available on Kraken Pro as of March 2026, with up to 3x leverage for long and short positions using existing balances as collateral.
Participated in Mantle RWA Day at Consensus Hong Kong alongside World Liberty Financial, DigiFT, Concrete, and Loro.
Reached $30B cumulative trading volume, including $4.5B onchain transfers, with 130,000 unique onchain holders across 100+ tokenized stocks and ETFs. Tesla and Nvidia tokenized stocks account for the majority of volume.
7 of the top 10 tokenized stocks by 24-hour volume are xStocks products.
Leads tokenized stock platforms by onchain holder count, issuing 9 of top 10 deployments on Solana.
Added eight new tokenized stocks and ETFs, including TBLLx (tokenized T-bill exposure with 3.6% yield and no single smart contract risk).
Attracts equities and foreign currencies trading on Solana.
Hosts KrakAcquisition Corp $KRAQx, a publicly listed SPAC backed by Kraken, Tribe Capital, and Natural Capital.
Reached $20B tokenized stock trading volume since June 2025, with 95% of activity on Solana.
Reached $7.7M in 24-hour volume for tokenized stocks on Solana.
Integrates with Kamino Finance, allowing supply of xStocks tokens for collateral and earning Kamino Season 5 points alongside xPoints; utilization ratio sits at 36%.
Distributes $4,000 USDC weekly to USDC borrowers on Kamino for xStocks and indices.
Participates in Consensus HK week with sessions featuring discussions on institutional markets, market structure, and tokenization alongside Kraken.
Sponsored Solana Consumer Day conference in Hong Kong on February 10, 2026, with GM presenting on building real onchain markets.
Reached an all-time high TVL of approximately $5.46M.
General Manager participates in a panel discussion about RWA trends hosted by DWF Labs on 2026-01-27 at 2PM UTC.
Launched perpetual contracts for stocks on SoneFi, collateralized with ASTR from Astar Network.
Featured in One Wallet raffle within Gift Fest mini-app, attracting 300,000+ users to the raffle event.
Conference attendees at SolanaConf and Binance Blockchain Week report increased interest in onchain U.S. stocks on Solana, with many people investing in stocks on Solana for the first time, crediting xStocksFi for their work in this sector.
NVIDIA token generates ~$41k in 24-hour DEX volume compared to competitor Trade.xyz's NVIDIA perpetual at $1.4M, with equity perpetuals outperforming tokenized stocks due to novel leverage and easier onchain integration.
Generated $9 million total onchain volume across tokenized stocks including $AAPLx, $NVDAx, and $TSLAx on Wasabi Protocol, with TSLAx, NVDAx, and MSTRx as top traded tokens.
Partners with Chainlink, using CCIP for cross-chain transfers of 50+ tokenized stocks between Ethereum and Solana via xBridge, and Data Streams for pricing in Kamino.
Kraken acquired Backed and xStocks technology, gained new liquidity access through Kraken Flexline.
Launched Xbridge for cross-chain stock bridging, xPort for institutional stock tokenization, Lore MAG-7 as an onchain basket ETF, and xChange for onchain equity trading, connecting tokenized Nasdaq-listed equities with blockchain.
Deployed xStocks tokenized equities on Mantle blockchain via Bybit and Ink.
Integrated tokenized stocks (QQQx, SPYx) with Kamino, Piggybank_fi, and Euler Finance, enabling leverage strategies up to 3.7x. Became yield-bearing collateral on Morpho, Kamino, and Euler, with lending on Kamino offering ~3.4% APY.
Launches onchain stock lending feature on Solana, partnering with Ondo Finance to turn tokenized equities into yield-bearing collateral, with AAPLx depositors earning 18.82% APY.
TSLAx and NVDAx rank as the top two tokens traded on Wasabi platform this week, excluding major cryptocurrencies.
Kraken partners with Deutsche Borse to distribute xStocks tokenized equities through Eurex-listed derivatives, with phase one integrating 360T subsidiary for bank-grade FX liquidity.
Blockworks Research podcast episode discusses xStocks as part of Solana's 2026 catalysts, featuring dedicated segment titled "The Opportunity For xStocks" and covering Internet Capital Markets vision.
Holds $240M in tokenized equities with 40k unique holders, including TSLAx at $50M, CRCLx at $42M, and NVDAx at $20M.
Trading volume surpassed $10 billion across 135 days, with nearly $2 billion onchain. AUM growing as of February 2026.
Kraken acquired Backed in December 2025, bringing tokenized equities.
Partnered with Mantle, Bybit, and Backed for tokenized equities with 24/7 onchain access, mentioned as an RWA success story on Mantle ecosystem.
Titan Exchange joined xStocks Alliance, expanding the alliance's ecosystem.
Platform uses Chainlink infrastructure for market data, cross-chain interoperability, automated compliance, Swift connectivity, and digital transfer agency as an in-production permissionless tokenization use case.
Market expansion adds 9 tokenized tickers (NVDAx, TSLAx, AAPLx, METAx, GOOGLx, MSTRx, SPYx, QQQx, GLDx) on Solana, with Wasabi traders accounting for 13.4% of onchain volume across listed xStocks.
Tokenized stocks on Solana crossed $100M in 30-day volume, with traders shifting toward xStocks and Remora for equity-like exposure on the network.
Platform metrics show 92,000+ holders and $788M monthly transfer volume, with $176M distributed across 71 onchain RWAs and Solana leading network distribution at $125M+ (70%+ of total).
$TSLAX tokenized Tesla stock contract launches with accompanying $10,000 HTX trading competition running until November 26th.
EDEL (up 45% to $78M FDV) integrates as lending network partner on Base, enabling collateralization and borrowing of tokenized stocks.
Solana trades increased 400% from 7.46K to 37.50K on November 13.
The platform partners with Crypto Insights Group and announces merit-based Kraken Launch.
The platform reaches $10B in total trading volume milestone 4 months after launch.
xStocks partners with Bybit and BackedFi to launch tokenized equities on Mantle blockchain, offering assets like NVDAx, AAPLx, and MSTRx.
The platform uses Bebop's RFQ system for pricing and trading tokenized stocks through market makers, allowing 6-figure trades with minimal slippage.