XStocks hits $10B in volume 4 months after launch as tokenized stocks gain traction
Backed and Kraken’s xStocks sees rapid growth as investor interest in blockchain-based equities accelerates despite regulatory uncertainty.
XStocks, a tokenized equity platform created by real-world asset (RWA) tokenization firm Backed and crypto exchange Kraken, has surpassed $10 billion in total transaction volume just over four months after its launch, signaling a growing appetite for tokenized investment products.
The platform debuted earlier this year with more than 60 tokenized equities, including Nvidia, Amazon, Tesla and Meta Platforms, as well as several exchange-traded funds (ETFs). Each xStock token is fully backed 1:1 by the underlying equity or ETF, issued by Backed in partnership with Kraken.
XStocks operates across Ethereum, Solana, BNB Chain and Tron, expanding accessibility across major blockchain ecosystems.