Riding on the growing interest in digital securities, XStocks — the tokenized stocks platform developed by Backed and the Kraken exchange, is off to an impressive start. In just four months, its trading volume exceeded $10 billion. A performance which confirms the growing demand for tokenized investment products and illustrates the accelerated convergence between blockchain and traditional finance.
In brief
- XStocks exceeds $10 billion in trading volume four months after launch, demonstrating rapid adoption.
- More than 45,000 token holders and nearly $2 billion in blockchain transactions have already been recorded.
- Experts believe that tokenized stocks will soon emerge from the experimental phase to form a real market infrastructure.
Rapid adoption and initial performance
The platform reached this milestone only 135 days after opening to the public. From its launch, XStocks offered more than 60 tokenized stocks from large companies, Nvidia, Amazon, Tesla or Meta, as well as a range of ETFs. Each token accurately reflects the corresponding stock or ETF, on a 1:1 basis, and is issued by Backed in partnership with Kraken.
These products quickly generated strong interest, leading to sustained trading volume and high user participation. Among the key figures:
- nearly $2 billion in transactions carried out directly on the blockchain;
- more than 45,000 token holders, with approximately $135 million in assets under management.
According to data released in early November, activity on
Mark Greenberg, Global Head of Consumer at Kraken, points out that XStocks builds a strong bridge between digital assets and traditional financetransforming tokenized shares into a truly global product. The platform benefits from a multi-chain presence, Ethereum, Solana, BNB Chain, Tron, which allows users from different ecosystems to participate easily.
Growth and future of tokenized markets
Despite the regulatory uncertainties that persist, John Murillo, commercial director at fintech B2Broker, points out that tokenized stocks continue to gain ground, even in a still unclear legal framework. Recent data confirms this dynamic: holdings of on-chain tokenized stocks now reach around $666 million, not including overall trading volume.
This progression is supported by one of the main advantages of tokenized stocks: their continuous negotiability. According to DigiFT and Tiger Research, 24/7 trading allows investors to manage their risks at any time, beyond traditional market hours, and paves the way for a new stock market model where programmable assets prove more efficient than traditional instruments.
Moving forward, DigiFT and Tiger Research anticipate that the tokenization of real-world assets will evolve from pilot projects to much larger infrastructures. They envisage the emergence of hybrid markets, combining licensed and unlicensed structures, the development of tokenized stock platforms, as well as the arrival of direct on-chain initial public offerings (IPOs), which should form the basis of this financial ecosystem in full construction.
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