Brief
Tokenized US equity wrapper on Solana (primary), Ethereum, TON, and Ink. 100 stocks and ETFs as of March 2026, $25B+ cumulative volume since June 2025 launch, target 500+ by EOY. Issued by Backed Assets (Jersey), distributed by Payward Digital Solutions (Bermuda). Custody: Alpaca Securities plus InCore Bank, with Lloyd's of London $175M coverage.
Recent activity
Latest moves on the changelog feed.
- May 12, 2026WIRED
xStocks -> Euler. Wrapped SPYx and STRCx now live as collateral on a new Cassa-curated vault, with AUSD as the borrow asset. Fourth lending venue accepting xStocks after Jupiter Lend, Morpho, and Kamino, and the first to pair them with Agora's stablecoin instead of USDC.
- Apr 16, 2026WIRED
xStocks → Mantle (tokenized equities now deployed on Mantle L2; expanded chain coverage beyond Solana and Ethereum).
- Apr 15, 2026WIRED
xStocks → 360X (Kraken's tokenized equities suite listed on Deutsche Börse-backed regulated EU venue).
- Apr 1, 2026WIRED
xStocks ↔ Morpho. SP 500 tokenized equities as lending collateral.
Snapshot
Key terms and identifiers.
- Asset value
- $250M
- Custodian
- Alpaca Securities + InCore Bank
- Spec type
- tokenized-stocks
- Volume cumulative
- $25B+
- Tokens
- 100
- Primary chain
- Solana
- Other chains
- Ethereum, TON, Ink
- Regulator
- Jersey (Backed Finance)
- Distribution model
- Crypto exchange listings
- Distribution venues
- Kraken, Binance, Bybit, Bitget, KuCoin, OKX
- Insurance
- Lloyd's of London $175M
- Asset classes
- Equities
- Token standards
- erc-20
- Jurisdiction
- EU
- Analytics
- app.rwa.xyz/assets/xStocks
Milestones
How this player got here.
- May 2026xStocks -> Euler. Wrapped SPYx and STRCx now live as collateral on a new Cassa-curated vault, with AUSD as the borrow asset.
- Apr 2026xStocks → Mantle (tokenized equities now deployed on Mantle L2; expanded chain coverage beyond Solana and Ethereum).
- Apr 2026xStocks ↔ Morpho. SP 500 tokenized equities as lending collateral.
Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
- Backed FinanceIntegratesTokenization infrastructure
- SolanaBuilds onPrimary chain
- EthereumBuilds on
- KrakenIntegratesIssuer
- KaminoIntegratesDeFi lending collateral
- MorphoIntegratesSP 500 xStock as lending collateral
- EulerIntegratesWrapped SPYx + STRCx as collateral on Cassa vault
- 360XIntegratesListed on 360X regulated venue
- MantleBuilds onTokenized equities deployed on Mantle L2
