-
xStocks surpassed $25 billion in lifetime transaction volume.
-
$3.5 billion came from onchain trading across Solana, Ethereum, and TON.
-
There are over 80,000 onchain holders.
-
Kraken is finalizing an acquisition of Backed, the issuer behind xStocks.
Tokenized Equities Gain Traction
Kraken announced that xStocks, tokenized representations of equities, have exceeded $25 billion in total transaction volume since launch.
About $3.5 billion of that activity occurred directly onchain across Solana, Ethereum, and TON. The ecosystem now includes more than 80,000 unique onchain holders and approximately $225 million in assets under management.
Each xStock is fully backed one-to-one by an underlying stock or ETF held by a licensed custodian.
Competition in Tokenization
Kraken is in the process of acquiring Backed, the issuer behind xStocks, further consolidating its position in the tokenized equity market.
Data suggests tokenized stocks collectively approach $940 million in total value, with billions in monthly trading volume. Solana currently holds the largest market share, followed by Ethereum-based offerings.
The milestone signals growing demand for 24/7, borderless access to equity exposure onchain.
