At a glance
Type: issuer
Jurisdiction: Jersey
Chain: Solana, Ethereum, TON, Ink, (Tron, Mantle, BNB Chain announced as coming, Dec 2025)
Status: live (since 2025-06-30)
Last updated: 2026-10-25
| Field | Value |
|---|---|
| name | xStocks (Backed) |
| jurisdiction | Jersey |
| product_name | xStocks |
| structure | Tokenized certificates/tracker tokens backed by custodied securities |
| chains | Solana, Ethereum, TON, Ink, (Tron, Mantle, BNB Chain announced as coming, Dec 2025) |
| who_can_buy | Eligible non-US persons; excluded in US, UK, Canada, Australia and sanctioned jurisdictions |
| num_assets | 131 (Kraken FAQ, 2026-10-25; 100 stocks, 27 ETFs, 4 specialist) |
In plain English: xStocks are tokens backed one-for-one by US stocks and ETFs.
xStocks are stock and ETF tokens issued by Backed Assets (JE) Limited, backed 1:1 by the underlying asset. They launched on Bybit, Kraken and Solana DeFi on 30 June 2025 (PR Newswire).
On 2 December 2025 Kraken announced it agreed to acquire Backed Finance AG (Kraken; Business Wire); completion status not confirmed here.
At that date xStocks offered more than 60 assets, live on Solana and Ethereum. xStocks are not available in the US (Kraken press release). Kraken’s xStocks FAQ now lists 131 assets (100 stocks, 27 ETFs, 4 specialist assets) on Solana, Ethereum, TON and Ink, for eligible non-US clients in 110+ countries; not the US, Canada, the UK or Australia (Kraken FAQ).
A figure of 1,100 assets advertised elsewhere (Zerion, secondary) is unverified and not used.
Corporate actions use a multiplier (xStocks docs): dividends are reinvested net of withholding and raise the multiplier (xStocks docs); holders get no voting rights (Kraken FAQ); see corporate actions; exchange integration and API: integration, OpenAPI.
What this means for holders
- You hold a 1:1-backed wrapper certificate issued by Backed Assets (Jersey), not the share itself (Kraken FAQ).
- Dividends and splits are reflected by adjusting the token’s multiplier (xStocks docs).
- Not offered in the US, Canada, the UK or Australia (Kraken FAQ).
- Tokens can be withdrawn to a self-custody wallet (PR Newswire).
Reference information only, not investment advice.
Sources
Public originals for the facts on this page.
- https://support.kraken.com/articles/xstocks-faq
- https://docs.xstocks.fi/docs/dividends-and-stock-splits
- https://blog.kraken.com/news/backed-acquisition
- https://www.businesswire.com/news/home/20251202666578/en/Kraken-to-Acquire-Backed-Accelerating-xStocks-Expansion-and-Unlocking-Global-Demand-for-Tokenized-Equities
- https://www.prnewswire.com/news-releases/backeds-xstocks-go-live-today-on-bybit-kraken-and-solana-defi-302494374.html
- https://zerion.io/blog/best-tokenized-stock-platforms/
- https://fensory.com/best/tokenized-stocks-platforms
- https://docs.xstocks.fi/developers/multipliers
- https://docs.xstocks.fi/docs/exchange-integration
- https://docs.xstocks.fi/apis/openapi.md
Last checked 2026-10-25. Headline fields only; unknown means not yet verified from a source.