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 recently reached an all-time high TVL of $5.46M.
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x.com/xstocksfiReached almost 20,000 holders for Tesla xStock.
Grew AUM 9x from launch to approximately $186M within five months (as of January 2026).
Listed on Kraken exchange, enabling trading of tokenized stocks, ETFs, and commodities including GLDx and NVDAx.
Collaborated with Kraken exchange on a giveaway campaign distributing NVDAx tokens, scheduled to close on 2026-03-04.
Settled over $50 million in DEX volume 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 becomes available on Kraken Pro 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 $25 billion total volume for tokenized equities on Kraken's platform, with 80,000 unique onchain holders.
7 of the top 10 tokenized stocks by 24-hour volume are xStocks products.
The top 8 tokenized stocks by unique holders are xStocks products, representing approximately 68% of the top 25.
Added eight new tokenized stocks and ETFs to its platform: BMNRx (BitMine Immersion), AMDx, BTBTx, STRCx, IWMx (iShares Russell 2000 ETF), IEMGx, SCHFx, and TBLLx.
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.
Achieved 36% utilization ratio on the xStocks Kamino market.
Distributes $4,000 USDC weekly to USDC borrowers in the xStocks Market on Kamino.
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.
Backed partners with Chainlink to power xBridge using CCIP technology, enabling cross-chain transfers of 50+ tokenized stocks between Ethereum and Solana.
Kraken acquired Backed and xStocks technology, gained new liquidity access through Kraken Flexline. Mark Greenberg spoke at Breakpoint conference.
Platform launches Xbridge for cross-chain stock bridging, xPort enabling institutions to deposit real-world stocks directly to mint tokenized versions, and Lore MAG-7 as an onchain basket ETF mirroring the Magnificent 7 stocks.
Tokenized equities from xStocks are now available on Mantle blockchain via Bybit, expanding distribution beyond the Solana ecosystem.
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.
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 $225M in tokenized equities with 40k unique holders.
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 in-house to accelerate 24/7 tokenized stock markets.
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.
Users can now withdraw and deposit tokenized equities through the Ethereum network for DeFi and self-custody use cases.
xStocks launches tokenized equities and ETFs on Telegram, expanding platform accessibility through the messaging app.
Reports 80,000+ unique holders, outpacing Ondo Finance's 2,200 holders.
Holds 22.29% tokenized stock market share, second after Ondo (67%), with total sector value at $944M. Market grew 4x in 60 days, emerging on Solana by 2026.
Kraken tokenizes stocks with xStocks in a collaboration between the major cryptocurrency exchange and the tokenized equity platform.
Falcon Finance adds xStocks tokenized equities (Tesla, Nvidia, S&P500) as accepted collateral for minting USDf stablecoin, creating yield opportunities for xStocks holders through the overcollateralized staking system.
xStocks records $82M in Q3 metrics, ranking third in the tokenized stocks sector behind Ondo Finance ($303M) and Securitize ($250M).
xStocks launches live integration with Telegram Wallet, enabling tokenized equity trading directly through Telegram's messaging platform.
xStocks integrates Chainlink standard as part of 17 new Chainlink integrations announced this week across 11 different chains.
xStocks hits $50M in 24-hour transaction volume milestone.
Rango announces xStocks as a new integration in Q3 2025, expanding access through their bridge aggregation platform.
xStocks expands Chainlink CCIP and Proof of Reserve integration across BNB Chain, Ethereum, and HyperEVM, enabling cross-chain transfers of tokenized equities with enhanced reserve transparency.
Kraken launches xStocks tokenized equities product, reporting $648M quarterly revenue with +50% QoQ growth and $179M adjusted EBITDA with +100% QoQ growth.
Solana xStocks reaches $100M in Assets Under Management (AUM).
Total supply hits $25M with holder count reaching 14k.
xStocks partners with TON Foundation, Kraken, and Backed to integrate DeFi tools into Telegram's ecosystem of 1B+ users.
The xStocks Summit event has been completed, spanning discussion of the full crypto to capital markets infrastructure stack.
An xStocks Summit event is 90% complete and approaching launch.
The project receives public recognition from a crypto industry participant as one of the infrastructure plays they're monitoring in tokenized equity orchestration.
Users can now borrow against their tokenized equities through Kamino integration.
New RWA market report indicates the entire tokenized equities sector is valued at under $500M.
Trust Wallet integration announced through three-way partnership with Kraken exchange.
Tokenized stocks officially launched with analytical observations from early stages now available.
Phantom wallet integration announced, enabling users to discover and trade tokenized stocks directly through the popular Solana wallet.
Tesla tokenized stock ($TSLAX) now available for long and short trading on dYdX exchange through Rage platform.
TRON blockchain integration announced with Kraken exchange partnership for tokenized equities expansion.
UniversalX integration enables cross-chain stock trading with full ownership and 24/7 access through Universal Accounts.
BackedFi partnership provides technological infrastructure, enabling integration with Kraken exchange.
Trading volume surpasses $2B with $100M+ DEX volume and 25,000 holders, indicating significant market adoption.
Platform reaches 10,756 holders for synthetic Tesla stock, with SP500 and NVIDIA following at 9,427 and 7,657 holders respectively.
Platform integrates MetaTrader 5 with 500x leverage and Expert Advisor support for automated trading strategies.
$100k yield farming campaign launches on Bybit for content creation around synthetic stocks and TradFi assets, ending in 4 days.
New synthetic stock trading platform launches with 24/7 access and USDT settlement, featuring unrestricted global access and plans for ETF/commodity expansion.
US tokenized stocks launching on Jupiter DEX with Raydium LP and Kamino lending integration.
Holders receive $1000+ in rewards within 2 weeks for holding $401k token, demonstrating active reward distribution from recently launched program.
Amber International launches as first Asia-based tokenized stock on Solana, adds AMBRx to platform lineup and serves as market maker.
New tokenized stocks dashboard launches on OpenOcean, enabling trading of $SPYx, $TSLAx, and $NVDAx through platform integration.
Tokenized US stocks $AAPLx and $TSLAx launching on BNB Chain through partnership with Kraken and BackedFi.
Bybit launches $100k reward program requiring social mentions over next month.
CRCLx tokenized stock surges 11% in 24 hours, leading all platform assets in gains.
New Bybit Spot listing for AMZNX token in partnership with xStocks
New tokenized Google stock (GOOGLX) lists on Bybit exchange.
Tokenized stocks now available on Kamino Finance, Titan Exchange, and Jupiter Exchange through Pyth Network EXPRESS RELAY.
Whale purchases 100k tokens on-chain, demonstrating active trading of tokenized stocks.
Trading volume drops 93% to $563k with 73.7% decrease in users during US market closure.
Tokenized stocks reach 40,000 total holders across all assets, indicating significant retail adoption.