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Backed Launches xStocks: Tokenized Stocks Now Live on Bybit, Kraken, and Solana

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Backed, a leader in the tokenization of real-world assets (RWAs), has officially launched xStocks, making over 60 tokenized equities available across major platforms including Bybit, Kraken, and the Solana SOL $147.3 24h volatility: 3.0% Market cap: $79.10 B Vol. 24h: $6.49 B blockchain.

As per a statement, xStocks brings to life a vision long shared by many in the crypto community: bridging the gap between traditional finance and decentralized finance (DeFi).

Through xStocks, you can now trade blue-chip equities like Apple, Tesla, Amazon, NVIDIA, and Microsoft, as well as ETFs and shares of emerging crypto-native firms, all secured and settled at blockchain speed.

Already Breaching the Million Dollar Mark

The newly launched xStocks ecosystem already boasts over $1.33 million in trading volume and more than 1,200 unique traders, according to data from Wu Blockchain.

While 61 stock tokens are available, trading activity so far has concentrated around six tickers: NVDA, MSTR, TSLA, CRCL, SPY, and AAPL.

Each tokenized asset is backed 1:1 by the underlying equity, with Backed serving as the issuer, while broker and custodian services are managed by third parties.

The tokens come with minting and freezing permissions to ensure regulatory compliance and on-chain security.

Strategic Partnerships: Bybit and Kraken Go Live

Backed’s aggressive rollout is bolstered by strategic partnerships with two of the world’s most influential crypto exchanges. Bybit, the second-largest exchange by trading volume, has integrated xStocks directly into its Spot platform.

The collaboration is part of the larger xStocks Alliance, which includes heavyweights like Chainlink LINK $13.02 24h volatility: 2.2% Market cap: $8.85 B Vol. 24h: $318.30 M , Raydium RAY $2.05 24h volatility: 2.2% Market cap: $549.01 M Vol. 24h: $66.89 M , Jupiter JUP $0.44 24h volatility: 3.9% Market cap: $1.32 B Vol. 24h: $86.84 M , and Kamino KMNO $0.0588 24h volatility: 0.6% Market cap: $130.42 M Vol. 24h: $15.44 M , all working together to blur the line between DeFi and traditional finance.

Meanwhile, Kraken is rolling out xStocks in 185+ countries, beginning with a phased launch targeting eligible non-US users. The exchange now offers more than 55 tokenized assets through its app, with plans to expand to over 140 countries.

xStocks will be available 24 hours a day for over five days a week for trading with the option to withdraw funds to self-custodial wallets, giving users permissionless access to use these assets for collateral purposes in DeFi protocols, or even in P2P payments.

The Solana Advantage

xStocks aren’t just tradeable, they’re composable. Built with SPL-based tokens on Solana, xStocks integrate directly with top DeFi protocols like Raydium, Jupiter, and Kamino, enabling users to lend, borrow, and stake tokenized stocks just like any other crypto asset.

By making tokenized equities usable across lending and yield-generating platforms, Backed empowers users to engage in more complex and flexible financial strategies than traditional stock brokers could ever offer.

The post Backed Launches xStocks: Tokenized Stocks Now Live on Bybit, Kraken, and Solana appeared first on Coinspeaker.

6h ago
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