The Graph launches GRC-20 standard for decentralized knowledge graphs, boosting query volume 5.8% to 6.49B.

The Graph launches GRC-20 standard for decentralized knowledge graphs, boosting query volume 5.8% to 6.49B.

In a significant milestone for the tokenized equities market, the real-world asset platform Backed's xStocks have recently surpassed $2 billion in trading volume [1]. This achievement underscores the growing interest and potential of tokenized equities, which allow investors to buy tokens that track the price of popular stocks like Tesla, Apple, and Nvidia.

The majority of trading activity, $1.94 billion, occurred on centralized exchanges (CEXs) as of Wednesday, with Kraken, Bybit, and Gate being the top CEXs for xStocks trading [1]. Decentralized exchanges (DEXs) registered a trading volume of $103.8 million, indicating a balanced approach to market participation [1].

Despite the impressive trading volume, the number of unique holders of xStocks tokens remains relatively low at approximately 25,500, with an aggregate of assets under management totaling $43.6 million [1]. The most popular xStock is the tokenized version of Tesla stock, with over 11,000 holders, followed by an S&P 500 token with nearly 10,000 holders [1].

Leaders in both crypto and traditional finance see immense potential in the tokenized equity market. The ability to facilitate 24/7 trading and make it easier for international investors to access U.S.-listed stocks is a significant draw. Coinbase and Kraken are among the centralized exchanges showing interest in launching tokenized equities [1].

In January, BlackRock CEO Larry Fink expressed a desire for the U.S. Securities and Exchange Commission to rapidly approve the tokenization of bonds and stocks [1]. Meanwhile, Robinhood has announced plans to offer EU users the chance to invest in more than 200 tokenized versions of U.S. stocks [1].

Backed, the issuer of xStocks, recently expanded its support from Solana to BNB Chain, enabling users to trade tokenized U.S. equities as BEP-20 tokens [1]. Kraken co-CEO Arjun Sethi underscored this move by stating that the future of capital markets will be chain-neutral, composable, and multichain by design [1].

The growth of xStocks indicates a shift in the financial landscape, where traditional barriers to investment are being broken down. As the market continues to evolve, the role of tokenized equities in global finance is set to become increasingly prominent.

References:
[1] https://www.tradingview.com/news/the_block:146c518b4094b:0-backed-s-xstocks-which-includes-tokenized-tesla-shares-surpasses-2-billion-in-trading-volume/