Crypto exchange Kraken and Swiss tokenization firm Backed Finance launched their xStocks platform on Ethereum Tuesday, bringing 60 tokenized stocks to the world’s largest smart contract network. The expansion includes major companies like Nvidia, Amazon, Tesla, Meta and Walmart.
Hello, Ethereum.
xStocks are coming to Ethereum Mainnet, one of the world’s largest and most reputable blockchains with over $500b in assets secured, millions of users and thousands of apps.
The standard for tokenized equities, going everywhere. pic.twitter.com/ScEiBaHG1h
— xStocks (@xStocksFi) September 2, 2025
The tokenized stocks exist as ERC-20 tokens backed 1:1 by underlying equities. Eligible Kraken clients can deposit and withdraw these tokens directly on Ethereum while accessing decentralized finance protocols.
This launch follows earlier deployments on Solana, BNB Chain and Tron networks. Since debuting in June 2025, xStocks has generated over $3.5 billion in combined trading volume across centralized and decentralized exchanges.
“Ethereum is one of the world’s most widely adopted smart contract networks — and xStocks were built to meet users where they already are,” a Kraken representative said. The platform aims to integrate tokenized equities with Ethereum’s DeFi ecosystem.
Ethereum maintains dominance in decentralized finance with $90.8 billion in total value locked as of Monday. This represents 60% of the overall TVL across all blockchain networks.
The real-world asset tokenization sector continues expanding as crypto firms bring traditional financial instruments onto blockchain networks. Gemini launched tokenized stock trading in the Ethereum ecosystem in June 2025.
Investment management firm eToro is exploring launching tokenized stocks on Ethereum. On June 30, Robinhood launched a blockchain to facilitate tokenized stock trading in Europe.
The tokenized stock market capitalization currently stands at $342 million according to analytics platform RWA.xyz. This represents just 1.2% of the overall $27.9 billion tokenized real-world asset market cap.
“Our multi-chain strategy is deliberate,” Kraken co-CEO Arjun Sethi said. “It ensures tokenized equities are accessible across ecosystems, portable between wallets and protocols and composable within the applications users already trust.”
Tokenized equities face ongoing regulatory scrutiny from global authorities. Stock exchanges and regulators are pushing for tighter oversight from the Securities and Exchange Commission and other watchdogs.
Legal experts note that tokenized stocks may not provide the same protections as holding actual stocks. Investors may lack direct claims on company assets or voting rights.
The legal framework surrounding tokenized equities remains unclear in many jurisdictions. Despite regulatory uncertainty, fintech and crypto firms continue expanding tokenized equity offerings.
Backed Finance has partnered with multiple crypto exchanges including Kraken and Bybit to distribute its tokenization products. The company focuses on creating digital representations of traditional financial assets on blockchain networks.
Ethereum’s position as the largest smart contract network provides xStocks immediate access to thousands of decentralized applications and protocols across the DeFi ecosystem.
The post XStocks Launches 60 Tokenized Stocks on Ethereum Network appeared first on CoinCentral.
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