Backed Finance has launched its xStocks tokenized equities for trading on major cryptocurrency exchanges Kraken and Bybit, alongside integration into Solana’s decentralized finance ecosystem. The offering includes over 60 tokenized stocks from prominent companies such as Apple, Tesla, Coinbase, and Robinhood.
xStocks enable 24/7 trading without geographical restrictions, with each token backed by real underlying shares held in custody to ensure transparency and trust. Bybit has confirmed the tokens comply with the European Union’s MiFID II regulatory framework, with potential future support for dividend distributions currently under evaluation.
The tokenized stocks are accessible within Solana’s DeFi ecosystem through protocols including Kamino, Raydium, and Jupiter. This integration allows users to provide liquidity and conduct decentralized trading of traditional equities on blockchain networks.
This expansion contributes to the growing tokenized securities market, leveraging blockchain technology to enhance accessibility, liquidity, and regulatory compliance for traditional financial assets.