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Backed Finance Debuts Tokenized Stocks on Bybit, Kraken and Solana DeFi Protocols
Tokenization of equities is gaining steam, with several crypto exchanges moving towards offering on-chain stock trading on their platforms.
Updated Jun 30, 2025, 11:07 a.m. Published Jun 30, 2025, 11:04 a.m.
What to know:
- Backed Finance is launching tokenized stock offerings on major crypto exchanges and Solana-based DeFi protocols.
- The debut is part of the xStocks Alliance, offering token versions of 60 stocks and ETFs including Apple, Microsoft and Core S&P 500.
- The initiative is part of a broader trend of bringing traditional financial instruments onto blockchain rails, also known as tokenization of real-world assets.
Real-world asset tokenization firm Backed Finance is launching its tokenized stock offering on major crypto exchanges, and Solana -based decentralized finance (DeFi) protocols, bringing equities like Apple, Amazon, and Microsoft and crypto-native platforms closer.
The offering includes some 60 equity and ETF tokens that are available for trading around-the-clock, the company said on Monday.
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Crypto exchanges Bybit and Kraken are first to allow trading with the tokens, followed by integrations with DeFi apps Kamino Swap, Raydium and Jupiter later in the day, the press release said. The tokens will soon be available as collateral for DeFi lending, too, Backed said.
The move comes as momentum grows for bringing traditional financial instruments including equities onto blockchain rails, also known as tokenization of real-world assets. Crypto exchanges, such as Coinbase and Gemini, are seeking to expand into tokenized securities trading, while Robinhood was reportedly working on offering tokenized U.S. stocks for EU users.
Backed's rollout fits into that trend. The firm is orchestrated the xStocks Alliance, a group of exchanges and DeFi apps committed to building an open onchain market for real-world assets.
"xStocks represent a monumental leap forward in democratizing access to financial markets," Adam Levi, co-founder of Backed, said in a statement.
"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," Levi said.
Read more: Gemini Rolls Out Tokenized Stocks in EU, Starting With Strategy Shares
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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