Approximately $2.9 million worth of CRCLx tokens, which track the price of Circle Internet Group shares, are currently deployed across various decentralized finance platforms. This product, part of the xStocks suite issued by Backed Finance, represents a significant milestone in bringing traditional equities on-chain. CRCLx tokens, launched in June 2025, are available as SPL tokens on Solana and ERC-20 tokens on Ethereum, with a net asset value hovering between $71 and $74. The xStocks platform dominates this space with 58% of all tokenized equity deposits across 15 different DeFi applications, and total transaction volume exceeding $35 billion. Circle, the issuer of USDC, went public in 2025, giving crypto-native investors a way to gain equity exposure to the stablecoin giant through traditional markets.
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