XStocks Surpasses $2 Billion in Tokenized Trading Volume in Two Months

XStocks, a tokenized equities product launched by Backed Finance, has achieved a significant milestone by surpassing $2 billion in total trading volume across centralized (CEX) and decentralized (DEX) platforms. The platform, which launched in late June 2025, reached this milestone in less than two months, reflecting a rapid adoption of tokenized assets in financial markets [1]. The milestone is attributed largely to the popularity of tokenized Tesla shares, or TSLAx, which has driven a substantial portion of the volume [2].

The majority of the trading activity has occurred on centralized exchanges, which accounted for $1.92 billion of the total volume. On-chain and decentralized exchange (DEX) trading contributed the remaining $100 million. Notably, xTSLA alone generated a cumulative trading volume of $20.9 million by July 27 [2]. The platform also offers tokenized versions of other major assets, including xCIR (Circle) and SPYx (S&P 500 index), further broadening its appeal.

As of August 6, the total number of xStocks tokenized stock holders reached 24,542, with TSLAx leading the pack at 10,777 holders. The S&P 500 tokenized asset followed closely with 9,483 holders [2]. This rapid growth in ownership highlights the increasing interest in fractionalized and blockchain-based equity ownership among both retail and institutional investors.

The platform’s success is also evident in its daily trading figures. On August 6, tokenized TSLA shares recorded a daily trading volume of $6.8 million, with total shares valued at over $12 million [3]. These numbers indicate strong liquidity and active investor engagement, reinforcing the platform’s potential to reshape traditional stock trading through tokenization.

Since its launch, xStocks has primarily operated on the Solana blockchain, with the network accounting for approximately 95% of the trading activity in this segment. The platform has also formed strategic partnerships with key exchanges such as Raydium, Jupiter, and XT.com, and is listed on major centralized platforms like Kraken and Gate [2]. This growing ecosystem of partners and listings supports the platform's scalability and accessibility.

The rise of xStocks is not only driven by strong market demand but also reflects broader trends in the adoption of blockchain-based financial instruments. As more investors seek accessible and efficient ways to trade equities, platforms like xStocks are bridging the gap between traditional finance and decentralized technologies [1]. The increasing participation of both retail and institutional investors underscores the transformative potential of tokenized assets in the evolving financial landscape.

Source:

[1] Tekedia - [https://www.tekedia.com/2-billion-milestone-for-xstocks-underscores-the-transformative-potential-of-tokenized-assets/?srsltid=AfmBOoqmMl1QG5d6sgujQZ0p_cWtwYl1pOCG6MnZiHWH0NLChojpHHxo](https://www.tekedia.com/2-billion-milestone-for-xstocks-underscores-the-transformative-potential-of-tokenized-assets/?srsltid=AfmBOoqmMl1QG5d6sgujQZ0p_cWtwYl1pOCG6MnZiHWH0NLChojpHHxo)

[2] Crypto News - [https://crypto.news/xstocks-tops-2b-in-cumulative-volume-as-tslax-leads/](https://crypto.news/xstocks-tops-2b-in-cumulative-volume-as-tslax-leads/)

[3] Mitrade - [https://www.mitrade.com/insights/news/live-news/article-3-1017222-20250806](https://www.mitrade.com/insights/news/live-news/article-3-1017222-20250806)