TL;DR
- XStocks debuts on Ethereum with around 60 tokenized stocks, including NVIDIA, Amazon, Tesla, Meta, and Walmart, expanding its presence.
- Backed Finance enables the tokenization of real-world assets, partnering with exchanges like Kraken and Bybit.
- Tokenization democratizes access to stock markets, although it does not provide full legal rights.
XStocks, a tokenized stock product from Backed Finance, has launched on Ethereum with approximately 60 digital equities, including NVIDIA, Amazon, Tesla, Meta, and Walmart.
The platform was already available on Solana, BNB Chain, and Tron, and its launch on Ethereum aims to leverage the widespread adoption of this smart contract network and its leadership in decentralized finance. According to recent data, Ethereum holds a total value locked (TVL) of $90.8 billion, representing 60% of the overall TVL across all blockchains.
Backed Finance specializes in tokenizing real-world assets and has worked with exchanges like Kraken and Bybit to offer its products. The company allows traditional assets, such as stocks or commodities, to have a digital representation on the blockchain, even if they are illiquid or difficult to trade, as is the case with certain real estate assets. Kraken representatives stated that the initiative aims to bring users closer to tokenized investments without requiring them to leave the ecosystems they already know.
Tokenized stocks make it possible to democratize access to equity markets by removing barriers and simplifying participation. However, experts warn that holding tokenized stocks does not guarantee the same legal rights as traditional shares, including ownership of company assets or voting rights. For this reason, regulators like the U.S. Securities and Exchange Commission (SEC) and other international authorities have called for tighter oversight of these offerings.
XStocks Faces Strong Competition and Regulatory Uncertainty
Despite these restrictions, fintech and crypto companies continue expanding tokenized stock offerings. Gemini launched digital stock trading on Ethereum in June 2025, and eToro is exploring similar initiatives. Robinhood also implemented a blockchain to facilitate these operations in Europe. According to the analytics platform RWA.xyz, the market capitalization of tokenized stocks currently stands at $342 million, representing just 1.2% of the total $27.9 billion in tokenized real-world assets.
XStocks aims to establish itself as a strong option for investors seeking access to traditional markets through blockchain. The initiative combines Ethereum technology, Backed Finance’s expertise in tokenization, and partnerships with reputable exchanges
