xStocks tokenized stocks issued on OKX’s X Layer have reached a market cap of $172.8 million, a 187.2% increase in just one month. Backed Finance’s platform, launched on this Ethereum Layer 2 on June 15, now offers over 900 tokenized US stocks and ETFs, each backed 1:1 by real securities held in regulated custody. Among the top positions, MSTRx (tokenized counterpart of MicroStrategy) represents approximately $28.6 million in market cap. Cumulative trading volume across all blockchains reaches between $35 and $40 billion across roughly 800 assets. Backed Finance, based in Switzerland and associated with Payward (Kraken’s parent company), issues these tracker certificates that provide price exposure without shareholder rights.
Source: Read the original article
