XStocks added 17.3 million dollars in market cap over a single week, outpacing Ondo Finance (10 million dollars), Superstate (3.9 million dollars), and Robinhood (3.3 million dollars). The platform, built by Backed Finance and integrated under Kraken parent Payward, expanded its catalog from 60 to over 700 tokenized assets on Solana, with 35 billion dollars in cumulative transaction volume and roughly 200,000 wallets. The total tokenized equities market now stands at 2.8 billion dollars, with three main issuers (Ondo, XStocks, and bStocks) controlling 77 percent of the market. Each xStocks token is backed 1:1 by actual shares held in regulated custody. XStocks explicitly excludes US persons from its platform, a regulatory choice that sidesteps SEC jurisdiction while targeting the vast majority of the world’s population with limited access to US equity markets.
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