In the backdrop of increasing real-world assets (RWAs) tokenization, a RWA tokenization company, in collaboration with a crypto exchange, announced it will launch a token on the Tron blockchain. Backed Finance, the RWA tokenization company, will launch xStocks in collaboration with the crypto exchange Kraken on the Tron blockchain.
Backed plans to issue the tokenized stocks as TRC-20 assets on Tron. Following their previous launches of xStocks on Solana and BNB Chain in partnership with Kraken, the duo will coordinate in this launch, too. Since their debut in late June 2025, xStocks have generated over $2.5 billion in combined trading volume across both centralized and decentralized exchanges, according to Kraken.
What is xStocks?
xStocks are tokenized representations of real-world U.S. equities, issued by Backed Finance, a regulated financial entity based in Switzerland. These tokens are designed to provide users with exposure to traditional stocks like Apple, Tesla, and Amazon, without the need for a centralized intermediary. Deployed as TRC-20 tokens on the Tron chain, xStock is fully collateralized by the underlying physical share, 1:1 backing.
Why are they using the Tron blockchain (TRON)?
Arjun Sethi, Kraken co-CEO, stated, “Expanding xStocks to three blockchains in under 60 days shows what’s possible when you design for openness from the start. TRON’s scale, low fees, and global reach make it a strong addition to our multi-chain architecture for tokenized equities.”
The total value locked (TVL) on the Tron blockchain has increased from $4.74 billion in late July to $6.21 billion as of today. An increasing TVL (Total Value Locked) is generally seen as a positive signal for a blockchain or DeFi ecosystem. More value locked means users trust the blockchain and its protocols to secure their assets.
Number of RWA holders triples amid rising on-chain asset value
Adam Levi, Backed co-Founder, stated, “xStocks’ expansion to TRON is a natural step, aligning the blockchain’s dominance in stablecoin transfers with tokenized equities, crypto’s next major use case.
Meanwhile, the total RWA on-chain value has skyrocketed to $26.44 billion, a rise of +4.14% from 30 days ago. In addition, the total number of asset holders also grew by almost 14% to 370K in the last 30 days. As the RWA on-chain value increases, the total number of token holders increases by 3X, showing that many are embracing asset tokenization.
