xStocks, the industry's gold standard for tokenized U.S. equities developed by Kraken and Backed, has surpassed $10 billion in combined centralized and decentralized exchange transaction volume, including nearly $2 billion in onchain activity. Achieved in just 135 days since public launch, the milestone reflects surging global appetite for open, permissionless, interoperable financial assets that connect traditional capital markets to the open internet economy.

With xStocks, people in eligible regions can gain exposure to U.S. stocks and ETFs, hold assets on platforms like Kraken or self-custodial wallets, and unlock a wide range of DeFi opportunities using their holdings as collateral. Initially launched on Solana and made available to Kraken clients in more than 160 countries and Bybit users, xStocks have since expanded to Ethereum, with upcoming integrations extending access and liquidity across blockchains and platforms.

Beyond Kraken, xStocks are powering a rapidly growing ecosystem of global partners — including Alchemy Pay, Bybit, Gate.io, Phantom Wallet, Trust Wallet, Wallet in Telegram, and others. Together, these integrations form a thriving multi-platform alliance that connects traditional equities to the open internet economy, allowing users to buy, trade, and transfer tokenized stocks seamlessly across networks, wallets, and exchanges.

“Crossing this milestone so quickly proves that people around the world want financial assets that live natively on the internet — permissionless, open, and accessible to anyone. xStocks are redefining how real-world assets can move, trade, and thrive onchain.”

Each xStock is fully backed 1:1 by its underlying equity or ETF, held by a licensed custodian in a bankruptcy-remote structure. Tokens are issued by Backed, in partnership with Kraken, which provides distribution, capital, and liquidity — combining regulatory rigor with crypto-native interoperability.

To date, more than 45,000 unique onchain holders have joined the xStocks ecosystem, with over $135 million in aggregated AUM. The momentum marks a major step forward for real-world assets (RWA) onchain, as investors seek borderless, transparent access to traditional markets through self-custodial systems.