Press release | xStocks Goes Live on Hyperliquid

xStocks Goes Live on Hyperliquid, Bringing the Market's Deepest Tokenized Equities Framework to HyperCore

August 10, 2026

Five spot tokenized US stocks and ETFs go live as native spot markets on HyperCore's onchain order books, with additional assets to follow.

St Helier, Jersey — August 10, 2026 — xStocks, the tokenized equities framework developed by Payward, are now live on Hyperliquid's HyperCore. This marks the first time many of the most popular tokenized US stocks and ETFs are available on HyperCore's onchain spot order books, bringing 24/7 access to these assets in one of the fastest-growing decentralized trading venues.

This is the next phase of xStocks' ambition to meet a global audience of investors where they already trade. The deepest tokenized-equities issuer in the market, with more than 600+ assets across its network, is arriving on one of the fastest-growing onchain trading venues, bringing real spot order books to HyperCore and composability across HyperEVM DeFi.

A new distribution layer for tokenized equities

The initial rollout includes five tokenized US stocks and ETFs, all quoted against USDC: Nvidia (NVDAx), the S&P 500 index (SPYx), the Nasdaq-100 index (QQQx), SK Hynix (SKHYx) and Micron (MUx). Further xStocks deployments to HyperCore are planned in the coming weeks, including SpaceX, Sandisk and Tesla.

xStocks continues to be the industry-leader for tokenized equities. Each token is backed 1:1 by its underlying reference asset, held in custody by a regulated entity, and designed to move freely between centralized exchanges, self-custodied wallets, and onchain applications. Since launching in June 2025, xStocks has grown to power nearly $40 billion dollars in transaction volume across multiple blockchain ecosystems.

“Hyperliquid has one of the most engaged onchain trader bases found anywhere and has strong product-market fit as a venue for price discovery when traditional markets are closed,” said xStocks GM Val Gui. “With this launch, xStocks is answering untapped demand on a major decentralized trading venue: enabling traders to access spot markets for tokenized equities around the clock and unlocking those assets as collateral for DeFi protocols on HyperEVM.”

The five markets track proven demand on Hyperliquid. The semiconductor names in particular rank among the most heavily traded HIP-3 perpetual futures on the network, and traders can now hold them as spot assets rather than only as derivatives. And because spot xStocks are composable on HyperEVM, these assets can be held for the longer term and put to work as collateral in lending and other DeFi applications, not just traded.

HyperCore now joins Solana, many widely-adopted EVM chains and TON among the networks where xStocks are available, with more than 700 tokenized assets in the broader xStocks catalogue.

About xStocks:

xStocks is the industry standard for tokenized securities, bringing publicly listed equities onchain through fully collateralized, 1:1-backed tokens. Powered by Payward's digital asset infrastructure, xStocks places traditional assets on blockchain rails, expanding access to global capital markets with extended availability, global reach, and digital-native settlement. Launched initially as tokenized US equities, xStocks will soon be expanding to tokenize equities from markets across the world, including the UK, Europe and Asia.

Designed for interoperability, xStocks move seamlessly between centralized exchanges, self-custodied wallets, and onchain applications, unlocking new utility across trading, collateralization, and decentralized finance. Since launching in June 2025, xStocks has grown to power billions of dollars in transaction volume across multiple blockchain ecosystems, anchoring a rapidly expanding global network shaping the future of tokenized markets.

For more information, visit xstocks.fi.

Media Contacts

Lauren Post
[email protected]

xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. In the European Union / European Economic Area, xStocks are offered to eligible customers via Payward Europe Digital Solutions (CY) Ltd. (“PEDLS-CY”), a Cyprus investment firm authorized and regulated under EU MiFID II.

* xStocks are not registered under the U.S. Securities Act and are not available in the United States or to U.S. persons. xStocks are also not currently available in the United Kingdom or in any other jurisdiction where their offer or distribution would be unlawful or would require regulatory authorization that has not been obtained.

Neither PDSL, Payward Europe Digital Solutions (CY) Ltd. (“PEDLS-CY”), nor their respective affiliates provide investment advice or recommendations, PDSL (Kraken) does not provide investment advice and/or recommendations, and no communication, through any Kraken App or website or otherwise, should be construed as such. Individual investors should make their own decisions or seek professional independent advice if they are unsure as to the suitability / appropriateness of any investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk. The value of an investment may go down as well as up, and past performance is not a reliable indicator of future results. Geographic restrictions apply. Read Kraken's xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at https://assets.backed.fi/legal-documentation to learn more.