BackedFi Launches xStocks: Tokenizing Global Equities for Seamless Solana DeFi Integration

xStocks Onchain Equities Announcement

Backed announced on June 30, 2025, the launch of xStocks, over 60 tokenized stocks now available on Bybit, Kraken, and Solana DeFi protocols. This initiative brings household names like Apple, Amazon, and Microsoft onchain, enabling 24/7 trading, global accessibility, and permissionless transfers, marking a key step in converging traditional finance with decentralized systems.

Defining xStocks and Their Underlying Ownership Mechanism

xStocks are tokenized equities that track the value and performance of underlying stocks, functioning as crypto tokens while mirroring real-world assets. Issued by Backed, a regulated entity in Europe, they allow users to hold and transfer assets like $AAPLx, $AMZNx, and $MSFTx onchain, backed by actual equities and redeemable at offchain market prices. The system uses Chainlink's oracle infrastructure for sub-second price updates, real-time corporate action verification, and interoperability via CCIP, ensuring accurate data feeds and expansion potential to other chains starting from Solana.

xStocks' Essential Components

• Tokenized versions of over 60 stocks, including bluechips like $SPYx, $NVDAx, $TSLAx, and crypto-related tickers such as $COINx, $CRCLx, $MSTRx, and $DFDVx.
• 24/7 availability for trading and transfers, free from traditional market hours.
• Integration with Solana protocols like Kamino for lending and swapping, Raydium for liquidity pools, Jupiter for aggregated trading, and Phantom wallet for direct access.
• Chainlink Data Streams for high-accuracy, low-latency pricing and Proof of Reserve for transparency.
• Partnerships with exchanges like Bybit (including Byreal hybrid DEX) and Kraken, available in over 190 countries.

xStock Gains for Investors and Solana's DeFi Landscape

Tokenized stocks provide users with borderless access to global equities without brokers, enabling 24/7 trading, fractional ownership, and composability in DeFi apps for strategies like lending on Kamino or liquidity provision on Raydium. The launch fosters ecosystem growth by creating liquid onchain markets for real-world assets, attracting liquidity providers through fees and incentives, and uniting alliances like xStocks Alliance members (including Solana, Chainlink, Bybit, Kraken) to build neutral, interoperable infrastructure that enhances DeFi's efficiency and inclusivity.

Accessing xStocks on Solana Protocols

• Trade on Jupiter and Kamino by using Jupiter or Kamino Swap to acquire xStocks directly.
• For lending, participate in the xStocks Market as liquidity increases.
• Provide liquidity on Raydium by joining pools for assets like $SPYx or $AAPLx to earn fees.
• Use Jupiter to aggregate trades for best prices across DEXs.
• Acquire directly via Phantom wallet by connecting and swapping for available tickers such as $NVDAx or $COINx.

Optimizing xStocks in DeFi Strategies

• Earn yields by lending on Kamino, where supply and demand set fair interest rates for diverse risk profiles, or provide liquidity on Raydium to benefit from trading fees in a flywheel that deepens pools.
• Leverage Jupiter for efficient executions combining AMM and RFQ routes.
• For long-term holds, use composability to build structured products, avoiding sales while accessing liquidity.
• Review legal documentation at https://www.assets.backed.fi/legal-documentation for restrictions and risks before investing.

xStocks' Vision for Onchain Finance

The xStocks launch accelerates crypto's role in global markets by tokenizing equities for DeFi, offering unprecedented accessibility and efficiency on Solana while bridging tradfi and blockchain worlds. This neutral asset class empowers users worldwide to participate in wealth creation, driving innovation and liquidity in a truly open financial system.