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Launch and Early Traction
Backed launched xStocks on June 30, 2025. The initial offerings included 55+ stocks and ETFs.
Launch distribution and momentum came from two vectors:
- Centralized Exchanges: xStocks went live with two major launch partners, Kraken and Bybit, instantly making them available to users in over 185 countries.
- Onchain integrations: Within hours of launch, xStocks were live on major DeFi venues. Raydium became the primary AMM for on-chain liquidity, with Jupiter aggregating the best quotes. Kamino added xStock collateral pools so users could borrow against positions like AAPLx or TSLAx. Wallets such as Phantom, Solflare displayed the tickers natively alongside regular tokens.
And then many other players followed, and the integrations formed the xStocks Alliance. It’s a group of exchanges, protocols, and service providers like Backed, Kraken, Bybit, Solana, AlchemyPay, Chainlink, Kamino, Raydium, Jupiter, and other partners who work towards accelerating the adoption of xStocks.
The result was fast adoption. Composability is the growth engine.
Within the first month, trading volumes crossed more than $300 million. And by the 6th week, the cumulative volume has crossed $2.1 billion. Onchain DEX activity accounted for more than $110 million of that total.
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