Jakarta, Pintu News – Backed Finance, known for being one of the first to bring traditional financial assets to the blockchain world, recently launched xStocks – a collection of over 60 tokenized versions of stocks and ETFs, including big names like Apple, Tesla, Microsoft, and Nvidia.
According to an announcement on Monday (30/6/25), xStocks is already available for trading on major exchanges such as Kraken and Bybit.
In addition, users can also trade them via various popular Solana protocols such as Raydium , Kamino , and Jupiter .
The newly launched xStocks ecosystem has recorded a trading volume of over $1.33 million and involved more than 1,200 unique traders, according to data from Wu Blockchain.
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Although there are 61 stock tokens available, trading activity so far has been centered on six tickers: NVDA, MSTR, TSLA, CRCL, SPY, and AAPL.
Each tokenized asset is backed 1:1 by the underlying equity, with Backed as the issuer, while brokerage and custodian services are managed by a third party.
These tokens come with minting and freezing permissions to ensure regulatory compliance and on-chain security.
Backed’s aggressive launch of xStocks is strengthened 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 a wider alliance, the xStocks Alliance, which includes big names such as Chainlink , Raydium (RAY), Jupiter (JUP), and Kamino (KMNO) – all working together to erase the boundaries between DeFi and traditional finance.
Meanwhile, Kraken has begun rolling out xStocks in over 185 countries, starting gradually and aimed at qualified non-US users.
Currently, the exchange already offers more than 55 tokenized assets through its app, with plans to expand to more than 140 countries.
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xStocks will be available 24 hours a day and more than five days a week for trading, as well as allowing withdrawals to self-custodial wallets. This gives userspermissionless access to use these assets as collateral in DeFi protocols, or even for P2P payments.
xStocks are not only tradable, but also composable.
Built using SPL-based tokens on the Solana network, xStocks integrates directly with leading DeFi protocols such as Raydium, Jupiter, and Kamino, allowing users to swap tokens on Web3 for lending, borrowing, and staking against tokenized stocks, as they would any other crypto asset.
By making tokenized equity usable across multiple lending and yield-generating platforms, Backed empowers users to implement more complex and flexible financial strategies compared to what traditional stock brokers can offer.
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