- Backed’s xStocks launch puts 60 tokenized stocks live on Kraken, Bybit, and Solana DeFi.
- Apple, Microsoft, Tesla, and S&P 500 are now available as blockchain-based tokens.
- 24/7 trading and DeFi integration make tokenized stocks accessible beyond traditional hours.
Backed Finance has launched xStocks, a tokenized stock platform supported by multiple crypto-exchanges and decentralized finance protocols. The launch includes over 60 tokenized stocks and ETFs, such as Kamino, Raydium, and Jupiter, that can be traded on Kraken, Bybit, and DeFi platforms powered by Solana.
The launch signifies a major milestone in the effort to add real-world assets, like equities, onto blockchain platforms. Major companies like Apple, Microsoft, Amazon, Meta, Tesla, and Coinbase now offer tradable stocks on blockchain networks. These tokenized stocks can be traded 24/7 and are simple to incorporate with both decentralized applications and centralized exchanges.
Bybit stated that the tokens are backed one-to-one by real shares and will offer near-instant on-chain settlement. The platform emphasized that xStocks comply with the European Union’s MiFID II framework and that support for dividend payouts is under evaluation.
Kraken has also added support for xStocks. According to the exchange, users can avoid traditional market limitations such as time-zone restrictions and trading hour cutoffs. The tokens are being positioned as freely transferable, commission-free on select platforms, and suitable for a wide range of trading environments.
xStocks Integrates With Solana DeFi and Phantom Wallet
The new tokenized stock offerings have also entered the decentralized finance ecosystem on Solana. Backed Finance confirmed that Kamino Swap, Raydium, and Jupiter now support xStocks trading. Users can provide liquidity using stock tokens, conduct swaps, and engage in decentralized trades.
xStocks are supported by the Phantom wallet, a well-known wallet on the Solana network. The functionality is still being finalized, but wallet users will soon be able to view and interact with these tokens in the app. Their integration into Solana’s DeFi platforms allows stock tokens to function like native crypto assets, expanding their use cases beyond traditional finance.
According to DefiLlama, Solana’s total value locked (TVL) based on the decentralized finance space is currently 8.56 billion. This developing ecosystem offers an open, scalable, and low-cost environment to test the tokenization of real-world assets.
Bybit has also incorporated xStocks into its TradFi and Byreal platforms, which allow users to trade tokenized stock together with traditional and crypto instruments in a single interface. Furthermore, including xStocks in both centralized and decentralized channels seeks to expand user access and market reach.
Also Read: Bybit Unveils Powerful Byreal DEX Offering Seamless Solana Integration
Tokenized Stocks Fuel Broader Shift in Crypto
The xStocks rollout is part of a broader trend among financial firms and crypto exchanges to tokenize real-world assets. Coinbase and Gemini have expressed interest in launching similar products while Robinhood has explored bringing tokenized U.S. equities to European users.
Backed Finance is leading the xStocks Alliance, a consortium of exchanges and DeFi apps focused on creating an open on-chain market for tokenized securities. The initiative emphasizes the shift to transparent and borderless financial tools enabled by blockchain.
As tokenized stocks are now available on various platforms, the connection between traditional finance and blockchain-based trading infrastructure only grows. The growth has increased market efficiency and widened access to equity markets.
Also Read: Ondo Finance Unveils Global Markets Alliance to Standardize Onchain Tokenized Assets