Yesterday, S&P500 hit a fresh all-time high. Today, xStocks turns 120 days. We celebrate with our own ATH: $120M in tokenized equities, and 40k unique holders. No banks, no barriers. Just people and onchain finance. Now to double it, again.

Tokenized equities need real infrastructure to grow. @BackedFi is becoming part of @krakenfx to elevate tokenized equities to a new level. Backed and Kraken have worked closely since the inception of xStocks, from idealization, to launch, to expansion. Every time we joined forces, we went further than any single entity could have. Now, as we take this partnership to its natural progression, we set a bigger objective. Before xStocks, tokenized equities were few and far between, limited by accessibility, range and liquidity. On June 30th, we pioneered the first large scale line of tokenized equities, with over 60 equities tokenized and available to a wide audience on Solana, allowing users around the world to get direct exposure to U.S. markets for the first time, anytime, at the speed of the internet. One day after launch, nearly 9,000 cumulative holders had xStocks in their wallets, holding a range of different companies and indexes in the same platforms they use for other crypto. Users would hold SPYx alongside SOL, MSTRx alongside BTC, and CRCLx alongside USDC. They were able to swap on Jupiter, provide liquidity on Raydium, lend on Kamino, and hold on Solflare. Internet capital markets, at last. Fast forward to five months after launch: the number of holders is up nearly tenfold to 84,000, daily transaction volume is over $30m, total transaction volume has crossed $12b, and AUM or total value rises so quickly, now at $175m, intern can’t even post milestones on time. Tokenized equities are live on Solana and Ethereum with deep liquidity, available on everyday apps such as Wallet in Telegram, usable as collateral for DeFi loans, or as part of onchain indexes, and set to be part of every major app. xStocks are now part and parcel of main exchanges like Kraken, Bybit, and Gate, and bring access to markets through regional leaders like Luno, Valr, Pintu, Innodax and LBank. All while expanding to new chains like TON, TRON and Mantle. This is by design: xStocks were created as a neutral asset, going to users where they are, on the chains they use and the exchanges they trust. Now, as part of Kraken, we are equipped to take this one step further. The future we want for tokenized equities is one where they are as composable and deeply integrated as stablecoins. Where your uncle can send you SPYx on your 18th birthday, where your first car can be bought on a loan taken out against TSLAx, where your savings, crypto and xStocks portfolio live together in a single place, in your pocket, wherever you are. In this future, crypto is not synonymous with speculation, but access and efficiency. It’s under the hood of every major bank and exchange, adopted by institutions private and public alike, processing every transfer and credit card purchase, with the blockchain ledger widely recognized as legal ownership. And as digital bank money overtook cash, so will stablecoins overtake the digital dollar, and the same will happen for tokenized equities and their underlying. Tokenization is inevitable, but it must be done right. As crypto prepares for mass adoption and the coming of trillions in equities onchain, the winning model should be one that is open, accessible, efficient and transparent. As part of Kraken, we commit to this mission.

What are you building today on @solana?