Tokenised stock platform xStocks has surpassed $25 billion in cumulative trading volume since launch, The Block reported on Feb. 20.
The Block, citing Kraken, said on-chain transactions on the Solana, Ethereum and TON chains total $3.5 billion.
Kraken is finalising the process to acquire Backed, the issuer of xStocks. On-chain xStocks holders have surpassed 80,000, and total assets under management are about $225 million. xStocks is fully linked one-to-one with real stocks or exchange-traded funds held by a licensed custodian institution.
Dune, a blockchain data analytics platform, said Solana-based xStocks accounts for 46.9 percent of the tokenised stock market. Ondo Finance's Ethereum products account for about 37 percent, and BNB Chain-based products about 15 percent. Across the overall market, about $940 million in tokenised stocks are currently in circulation, and monthly trading volume is about $2.34 billion.
Vau Guui, head of xStocks, said the result proves global investors want a market that is open 24 hours a day without borders.
Chi-gyu Hwang
delight@d-today.co.kr