Tokenized asset issuer Backed Finance announced the launch of its tokenized stock product xStocks on several major cryptocurrency exchanges and Solana DeFi protocols. This enables users to trade tokenized versions of stocks from companies like Apple, Amazon, and Microsoft.
Key Features of xStocks
- 60+ Tokenized Stocks: Available on Bybit, Kraken, and Solana-based DeFi platforms.
- 24/7 Trading: Tokens are freely transferable and tradable around the clock.
- DeFi Integration: Soon usable as collateral for decentralized lending.
Exchange Listings
👉 Bybit will launch trading for xStocks pairs on June 30 at 10 PM (UTC+8), including:
- COINX (Coinbase)
- NVDAX (NVIDIA)
- APPLX (Apple)
- TSLAX (Tesla)
👉 Kraken has also confirmed immediate availability.
Solana DeFi Access
Users can trade xStocks on Solana DeFi protocols:
- Kamino (lending/borrowing)
- Jupiter (DEX aggregation)
- Raydium (liquidity provision for earning fees/rewards)
"By bridging familiar assets onto the blockchain with unmatched accessibility, we're not just connecting TradFi and DeFi—we're building the infrastructure for an open, efficient, and inclusive global financial system."
— Adam Levi, Co-Founder of Backed
xStocks Alliance
Backed co-founded the xStocks Alliance, a coalition of exchanges and DeFi apps focused on creating an open on-chain marketplace for real-world assets (RWA).
FAQs
1. What are tokenized stocks?
Tokenized stocks are blockchain-based representations of traditional equities, enabling fractional ownership and decentralized trading.
2. How do xStocks differ from traditional stocks?
- Accessibility: Traded 24/7 without market closures.
- Interoperability: Usable across DeFi protocols.
3. Are xStocks regulated?
Backed complies with Swiss financial laws, but regulatory status varies by jurisdiction.
4. Can I earn yield with xStocks?
Yes—via liquidity provision on platforms like Raydium.
5. What chains support xStocks?
Initially Solana, with potential expansions.
6. How are dividends handled?
Backed automates dividend distributions to token holders.
👉 Explore xStocks on Bybit today and diversify your portfolio with tokenized equities!
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