xStocks tokenized stocks hit $1B in onchain market cap, up 802.5% in a year

Kraken-owned issuer's tokenized equities crossed the billion-dollar mark as the onchain stock category keeps maturing Tokenized stocks issued through xStocks have reached a $1 billion onchain market capitalization. Not long ago, putting Apple shares on a blockchain sounded like a solution looking for a problem. A billion dollars of onchain value suggests the problem was real, or at least that plenty of people think it is. xStocks went live on June 30, 2025. It started with roughly 60 tokenized US stocks and ETFs. The platform was launched by Backed Assets (JE) Limited, which has since been acquired by Payward, the parent company of Kraken. Each token is meant to mirror one share of a real stock or ETF, backed 1:1 by underlying shares held in regulated custody.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.