Backed rolls out tokenized Apple, Microsoft, and Amazon stocks on Bybit and Kraken

Key Takeaways

Kraken has launched tokenized stock trading for 60 major US equities including Apple and Tesla.
The xStocks service allows trading of digital shares 24/5, excluding US residents.

Backed Finance, a pioneer in bringing traditional financial assets on chain, is launching xStocks, a suite of over 60 tokenized stocks and ETFs, including Apple, Tesla, and Nvidia, on Kraken and Bybit, the firm shared in a Monday announcement. These products are also tradeable on several major Solana protocols such as Raydium, Kamino, and Jupiter.

The move comes after Kraken said it would enable trading of US tokenized stocks in May. These stocks are fully-backed 1:1 by the underlying equity and issued in compliance with regulatory standards. They’re tradeable 24/7, transferable on-chain, and usable in DeFi protocols for lending, collateralization, or yield farming.

BREAKING: Wall Street is officially onchain.
xStocks are now live on Kraken ❎

60 U.S. equities tokenized and tradable 24/5. More coming soon.

We’re not waiting for the future. We’re building it.👇https://t.co/iKu44ZiwZN

Not available in the U.S. or to U.S. persons. Geo… pic.twitter.com/FjOsxDJ9se

— Kraken Exchange (@krakenfx) June 30, 2025

xStocks aim to provide 24/7 access to global investors outside the US, reducing barriers to American equities. The launch follows a month of anticipation and is supported by the newly formed xStocks Alliance, a consortium that includes Bybit, Kraken, Chainlink, Kamino, Jupiter, Raydium, and others.

Bybit, the world’s second-largest crypto exchange by volume, has listed xStocks on its Spot platform, enabling round-the-clock trading of tokenized stocks and ETFs. Kraken, serving users in over 185 countries, has added more than 55 xStocks with 24/5 trading and withdrawal support to self-custodial wallets for DeFi use.

To power secure and accurate price feeds, Chainlink has joined as the official oracle partner. The company offers xStocks Data Streams, an Oracle solution that guarantees real-time verification of corporate actions within sub-seconds. Chainlink’s CCIP and Proof of Reserve frameworks support interoperability and transparency across networks.

“xStocks represent a monumental leap forward in democratizing access to financial markets,” said Adam Levi, Backed’s co-founder. “By bringing familiar assets onto the blockchain with unprecedented accessibility, we are not just bridging traditional finance and DeFi; we are building the foundational blocks for a truly open, efficient, and inclusive global financial system where everyone can participate in wealth creation.”