Tokenized equities platform XStocks has reached $186 million in assets under management since launching on Solana on June 30, 2025, with over $25 billion in cumulative transaction volume. Each token is backed 1:1 by real U.S. equities or ETFs held in regulated custody, allowing users to buy fractional shares like AAPLx or NVDAx around the clock. STRCx, which tracks Strategy (formerly MicroStrategy) stock, is the ecosystem’s largest token with a market cap of approximately $135 million, operating as an ERC-20 token on Ethereum. The platform lists over 100 tokenized stocks and ETFs, and these tokens can be used as collateral in DeFi protocols. Without a detailed volume breakdown, it remains difficult to assess the share of organic demand versus wash trading activity.
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