Binance’s bStocks are the second largest tokenized stock issuer just two months after launch, and BitMart’s internal feud erupts into the spotlight ahead of its closure BitMart’s official Chinese-language X account has publicly demanded that founder Sheldon Xia explain the whereabouts of user funds and produce a repayment plan. It said some users were unable to withdraw funds and some employees have not received their final salary or compensation and threatened Xia that if he does not provide a verifiable asset disclosure and repayment plan by the deadline, it would continue to submit evidence to regulators, law enforcement, lawyers and the media. Xia called the claims in the post “fabricated rumors” and promised a counter-attack. Read more
Binance bStocks became the second-largest tokenized stock issuer less than two months after launch, narrowly ahead of Kraken’s xStocks. Binance bStocks have overtaken xStocks to become the second-largest tokenized stock issuer by value less than two months after launch. BStocks reached about $624 million on Aug. 3, surpassing xStocks at roughly $579 million but trailing Ondo Finance at about $927 million, according to Token Terminal data. As of Tuesday, bStocks remained in second place at $610.6 million, narrowly ahead of xStocks at $601.2 million. The issuer landscape has shifted sharply as the tokenized stock market has grown. A year earlier, xStocks led with $40.7 million, followed by Robinhood at $37.2 million, while Ondo held about $65,000. The total value tracked by Token Terminal has since surged from roughly $80 million to about $2.7 billion. Read more
Eligible Bybit users can subscribe to tokenized SpaceX IPO shares through xStocks, a Kraken-linked framework that brings public market offerings to crypto exchanges. Bybit is joining a growing list of crypto exchange platforms allowing eligible users to subscribe to tokenized shares in US initial public offerings at the offering price, beginning with a SpaceX listing through the xStocks framework. Kraken parent Payward Services' xStocks framework aggregates investor demand across partner platforms and works with underwriting syndicates to secure IPO allocations before tokenizing the shares. Eligible users can register interest and submit subscription requests for tokenized IPO shares through Bybit, with allocations distributed on a pro-rata basis and unused funds refunded if demand exceeds available shares. SpaceX will be the first offering, with tokenized shares scheduled to begin trading on Bybit's spot market on June 12. Read more
Eligible users in more than 110 markets can register for tokenized SpaceX equity ahead of the company's highly anticipated public listing. Crypto exchange Kraken is giving customers access to the upcoming SpaceX initial public offering through xStocks, a tokenized equities platform, highlighting the growing convergence between crypto infrastructure and traditional capital markets. Kraken announced Friday that SpaceX will be the first public offering available through xStocks IPO Access, which allows eligible users to participate in the offering through tokenized equity instruments. To participate, users must have a verified Kraken account on the Kraken mobile app and submit an application for IPO access. The offering is not available through Kraken Pro or the company’s desktop platform. Read more
The self-custodial wallet platform integrated Kraken-backed xStocks infrastructure, adding more than 130 tokenized stocks and ETFs for users. Bitget Wallet said it has integrated xStocks infrastructure, giving its 90 million users access to more than 130 tokenized stocks and ETFs through its self-custodial wallet platform. The integration expands Bitget Wallet’s tokenized real-world assets offering to more than 300 products, including equities, commodities, precious metals and index-linked assets, according to a Tuesday announcement. The company said its tokenized equity products have processed more than $30 billion in transaction volume since launching in 2025. The products are not available in the United States, United Kingdom or other restricted jurisdictions, according to the company. Read more
The closed-end Fundrise Innovation Fund holds stakes in private technology companies including Anthropic, Databricks and SpaceX, and came public earlier this month. Tokenized equities framework xStocks has teamed with alternative investment platform Fundrise to bring onchain the newly public Fundrise Innovation Fund, expanding late-stage private market companies exposure. The single tokenized asset VCXx is expected to go live on the xStocks platform in the coming days, according to a Friday announcement. The move to bring Fundrise onchain comes just days after the closed-end fund began trading on the New York Stock Exchange with its portfolio that includes private shares of tech companies including Anthropic, Databricks and SpaceX. Early days trading saw the stock surge from its March 19 $31 debut price to as high as $575 per share. Read more
Foresight Ventures says regulatory barriers and liquidity advantages are driving consolidation in tokenized equities as the market expands. Update March 10, 11:40 am UTC: This article has been updated to add comments from RWA.io co-founder Marko Vidrih. Tokenized stocks have surpassed $1 billion in total value on-chain, marking a new milestone for the fast-growing real-world asset (RWA) sector. Data from RWA.xyz shows the value of tokenized equities climbing past the $1 billion mark, as platforms offering blockchain-based exposure to traditional stocks attract more trading activity and liquidity. Read more
Blockchain-based versions of US stocks are drawing growing investor activity, with onchain wallets and cross-venue trading expanding rapidly. Kraken’s tokenized equities platform, xStocks, has surpassed $25 billion in total transaction volume less than eight months after launch, underscoring accelerating adoption as tokenization gains traction among mainstream investors. Kraken disclosed Thursday that the $25 billion figure includes trading across centralized exchanges and decentralized exchanges, as well as minting and redemption activity. The milestone represents a 150% increase since November, when xStocks first crossed $10 billion in cumulative transaction volume. The xStocks tokens are issued by Backed Finance, a regulated asset provider that creates 1:1 backed tokenized representations of publicly traded equities and exchange-traded funds. Kraken serves as a primary distribution and trading venue, while Backed is responsible for structuring and issuing the tokenized instruments. Read more
The rollout provides Telegram users with access to tokenized US stocks via a self-custodial wallet, but it will not be available in the US at launch. Kraken-backed tokenized securities platform xStocks is launching on TON Wallet, a self-custodial wallet on the Telegram messenger. Following an initial rollout on Wallet in Telegram, xStocks is now live on TON Wallet, marking the offering’s official launch on Telegram-linked blockchain, The Open Network (TON), Kraken announced Thursday. “Launching xStocks on TON brings tokenized equities onto truly open infrastructure,” Kraken co-CEO Arjun Sethi said in the announcement, adding that the launch marks the first time for Telegram users to access tokenized US equities onchain. Read more
The acquisition will give Kraken full control of the xStocks tokenized-equity platform, strengthening the exchange’s push into regulated real-world assets. US-based crypto exchange Kraken has agreed to acquire Backed Finance AG, the company behind the issuance of xStocks, adding to a string of acquisitions the exchange has made this year while bringing the tokenized-equities platform under its roof. According to Tuesday’s announcement, Kraken plans to integrate xStocks’ issuance, trading and settlement more tightly into its products, including its global money app, while expanding support to additional blockchains and markets. XStocks is a platform that issues tokenized versions of publicly traded equities, such as stocks and exchange-traded funds (ETFs). It currently offers over 60 tokenized products and has recorded more than $10 billion in combined exchange and onchain volume since launching earlier this year. Read more