Backed Finance has announced the launch of xStocks, a new platform offering over 60 tokenized stocks, now live on Bybit, Kraken, and Solana DeFi. This initiative aims to bridge the gap between traditional finance and decentralized finance (DeFi), allowing users to trade well-known equities such as Apple, Amazon, and Microsoft in a blockchain environment.
xStocks Platform: Global Accessibility and 24/7 Trading
The xStocks platform provides over 60 tokenized equities and exchange-traded funds (ETFs), pegged 1:1 to their real-world counterparts. By integrating with centralized exchanges Bybit and Kraken, as well as Solana DeFi protocols, users can buy, sell, and manage tokenized stocks around the clock without traditional market hours. Backed Finance emphasizes that xStocks eliminates geographical and time constraints, offering a more inclusive investment experience.
Bybit, Kraken, and Solana DeFi Onboard
Bybit has joined the xStocks Alliance, enabling its users to access tokenized equities and ETFs directly through its trading interface. Kraken also lists xStocks assets, while Solana DeFi natively supports the tokens, allowing trading on decentralized exchanges and liquidity pools across the Solana ecosystem. This marks a significant expansion of real-world asset (RWA) tokenization on Solana.
Chainlink Provides Oracle Infrastructure
Chainlink has also joined the xStocks Alliance to provide oracle infrastructure, ensuring accurate on-chain price feeds for tokenized assets. Chainlink’s decentralized oracles will stream real-time market data for stocks like Apple and Amazon, reducing price discrepancies and liquidation risks. Backed Finance notes that Chainlink’s security guarantees are crucial for the reliability of the xStocks platform.
Significance: Democratizing Access and Fueling the RWA Narrative
The launch of xStocks is a milestone for tokenized securities. By leveraging major exchanges and Solana DeFi, the platform brings tokenized stocks to millions of potential users. Backed Finance aims to “redefine the relationship between retail investors and financial markets” by removing barriers such as account minimums and settlement delays. With Chainlink’s integration, data integrity is strengthened, attracting institutional interest. Analysts see RWA tokenization as one of the strongest narratives in crypto for 2025, with tokenized stocks paving the way for new DeFi collateral types and yield opportunities.