It's time to take the next step.

Today, we're going all in on xStocks. If you hold a tokenized equity like bTSLA, you can upgrade it to TSLAx — an identical product under a different brand.

bTokens and xStocks are issued by the same entity, under the same prospectus, with the same collateral structure. Both are fully collateralized 1:1 by the underlying asset, held with regulated custodians, and carry the same investor protections. Same underlying, same exposure, same rights. And yet, xStocks are different.

xStocks have over 100 assets, offering capital market liquidity during the week and onchain price discovery on weekends. They are integrated across SVM and EVM, available on liquidity pools, borrow/lend markets and yield protocols. From CEXes to DeFi, xStocks have been adopted by retail and professional traders alike.

What started as a few tokenized equities with an ambitious vision has been realized as the standard for tokenized stocks and ETFs, with hundreds of millions in assets tokenized, more than $25B in total volume and nearly 100,000 unique onchain holders.

As we expand across exchanges and chains, protocols and apps, it's time to focus our efforts on the product that can take on the stock market and tokenize it.

For information on how to convert your bTokens into xStocks, please read the official post here: https://backed.fi/news-updates/the-future-is-xstocks-upgrading-btokens

BNB Chain is joining the xStocks Alliance

xStocks are set to launch as BEP-20 tokens on BNB Chain, bringing on-demand tokenized equities like AAPLx, TSLAx, NVDAx and SPYx to millions of users. Eligible Kraken users will be able to deposit and withdraw xStocks via BNB Chain, making the process of going onchain trivial.

This expansion reaffirms xStocks' role as a neutral, public-good asset class unbound by any chain or exchange, and solidifies xStocks as the standard for tokenized equities. BNB Chain joins other industries leaders such as Backed Finance, Kraken, and other players as part of the xStocks Alliance.

Together, we drive the change toward a world where financial tools are accessible to everyone, everywhere, at any time.

xStocks are going live today.

This is the next step for crypto: over 50 tokenized stocks on Kraken, Bybit and Solana, a trading experience with global accessibility and the speed of the blockchain.
We’re proud to have Bybit as the newest member of the xStocks Alliance, allowing its users to access tokenized equities and ETFs 24/7. The integration enhances Bybit’s asset offerings and allows users to engage with global equity markets using the same tools they already use for digital assets. Bybit joins Kraken in listing these assets in over 190 countries across the world.
From newly launched tickers like $CRCLx and $DFDVx to well-known names like $COINx and $MSTRx or blue-chip giants such as $NVDAx, $MSFTx and more, xStocks are DeFi-ready from day one. They’re integrated with leading Solana protocols, offering a seamless UX for cryptonatives and a groundbreaking experience for retail investors.

Later today, users can trade on Kamino, Solana’s top money market. Lending is rolling out as liquidity increases. Liquidity providers can earn fees and incentives through Raydium, the largest DEX on Solana. Traders can use Jupiter, the go-to decentralized liquidity aggregator on Solana, to get competitive prices for tokenized stocks, or get xStocks directly through Phantom, Solana’s most popular wallet. Available today via these platforms will be SPYx, APPLx, NVDAx, TSLAx, METAx, GOOGLx, COINx, QQQx, CRCLx, MSTRx - with many more coming soon.

Make sure you verify any CAs on the xStocks product page, xstocks.com/products. xStocks tokens are verified on Kamino & Jupiter.

xStocks are a neutral, public-good asset class. Through the efforts of the xStocks Alliance, joined by Backed, Bybit, Kraken, Solana, Alchemy Pay and others, they will continue to expand to more chains and exchanges.

Join us.
- See the full list of partners and available venues at xstocks.com
- Read the full piece here: https://backed.fi/news-updates/xstocks-are-going-live-tokenized-stocks-for-the-defi-era

We’re excited to announce that xStocks will utilize the lighting fast brokerage infrastructure provided by Alpaca. This means xStocks will deliver a seamless experience between traditional and decentralized markets.

Alpaca is a modern brokerage platform that provides access to financial markets through developer-friendly APIs.

This allows BackedFi to execute xStocks orders faster, meaning exchanges and market makers can provide a better user experience both through centralized platforms and within DeFi. xStocks will be available to mint and redeem 24/5 via a fully automated flow for our onboarded exchange and market making partners.

Backed issues xStocks to regulated entities, which in turn offer these assets to end users. Having efficient, fast brokerage infrastructure ultimately means that end users will experience less slippage, lower fees, deeper liquidity, and tighter spreads.

Read more here:
bit.ly/3HFXwpd

We’re proud to announce that Alchemy Pay, the global fiat-crypto payment gateway, has officially joined the xStocks Alliance—a growing network of industry leaders bringing real-world assets onchain.

Alchemy Pay will integrate Backed’s xStocks directly into its Real-World Asset (RWA) platform.

This integration unlocks seamless fiat access to tokenized equities across over 170 countries and 50+ fiat currencies, so users can directly access a growing portfolio of tokenized stocks—including Apple, Tesla, SPY, and NVIDIA—using local fiat payment methods.

Their participation further validates xStocks’ vision of building a neutral, public-good asset layer for programmable finance—designed to be composable across chains, platforms, and user interfaces.

Read more here:
https://backed.fi/news-updates/backed-welcomes-alchemy-pay-to-the-xstocks-alliance

Borrowing against stocks has always been a challenge. DeFi enabled Tokenized stocks change this.

$wbCOIN is now live on Morpho

- Access the wbCOIN/USDC market
- Borrow USDC against $wbCOIN at 86% LTV
- Available on base and curated by Re7Labs

https://app.morpho.org/base/market/0x34f676bd8db106d6cdc90d0fb44145cea2f393310a794812cb1c5a8726b60913/wbcoin-usdc

bTokens will be interchangeable 1:1 for xStocks.

Upon launch, bToken holders will be able to convert tokens to @xstocksfi if they chose to, and vice versa.

Join us in the next step for tokenized stocks and discover new ways to use them across DeFi. bTokens will continue to be issued and redeemed by Backed.

Backed is proud to announce xStocks:

A new line of tokenized stocks and ETFs set to launch soon on Kraken and integrated with Solana’s best DeFi apps.
For decades, accessing U.S. equities has meant navigating borders, brokers, and high fees–a tough ordeal for non-US users. xStocks eliminates these barriers. No gatekeepers, no delays, no excuses.

Kraken opens the gates of traditional finance to millions of users by listing tokenized stocks with zero fees and deep liquidity. xStocks can be sent directly from Kraken to the Solana network, and used in DeFi apps.

xStocks are regulated and DeFi-ready. Hold them in your crypto wallet, or trade anytime on the blockchain and 24/5 through Kraken. Buy with crypto, stablecoins, or fiat. This is just the beginning. xStocks are built for composability: use them in lending, borrowing, or other crypto apps. They’re yours.

Follow @xstocksfi for updates

Get onchain exposure to TSLA through $bTSLA

▫️Average 7d APY on $wbTSLA - $sDAI liquidity pools: 181.3%
▫️Available on Gnosis Chain, with rewards managed by Kpk
▫️Rewards: $10k a week in $GNO rewards + trading fees

Check all pools on the DeFi Dashboard:
https://defi.backed.fi

In case you missed it, bCSPX and bCOIN pools went live on Avalanche this week with a ton of incentives from the Avax Foundation and Pharaoh for LPs. https://x.com/BackedFi/status/1902039586127159638

The S&P 500 but make it DeFi - bCSPX is available to swap on CoW Swap and LP on Balancer. Also, check out the ARFC to add bCSPX to Aave 🤯