What Is xStocks? How to Buy CRCLX? A Complete Guide to Using the Gate Platform

Starting from July 2025, several mainstream exchanges, including Gate, will launch the xStocks trading zone, allowing global users to directly purchase stocks of giant companies such as Google and Tesla with USDT for the first time, completely breaking free from geographical restrictions and traditional trading time constraints.

This article will take CRCLX (Circle company’s tokenized stock) as an example to elaborate on the operational logic of xStocks and the practical path on the Gate platform.

xStocks: When Traditional Stocks Meet Blockchain

xStocks is a tokenized stock solution launched by the Swiss compliant platform Backed Finance, which converts real publicly listed company shares into digital assets that can be freely traded on the blockchain through 1:1 full collateralization. Its core features include:

1. Real asset anchoring: Each token corresponds to the stock of a specific company (e.g., CRCLX represents Circle), with the underlying stocks held by a licensed Swiss bank (e.g., InCore Bank) and regularly subjected to on-chain audits.
2. 24/7 Trading: Break free from the traditional stock market time constraints of 9:30 AM - 4:00 PM EST, supporting 24⁄7Trading, respond to significant market movements at any time.
3. Fragmented Investment: Supports a fractional share mechanism that starts at a minimum purchase of 10 USD, significantly lowering the entry barrier for blue-chip stocks.
4. On-chain free circulation: Tokens based on ERC-20 and Solana SPL dual standard issuance, can be transferred to wallets or DeFi protocols for staking, lending, and other scenarios.

What is CRCLX? Why is it worth paying attention to?

CRCLX is a tokenized certificate of the stock of Circle Internet Financial (the core issuer of the stablecoin USDC), strictly tracking its stock price performance on NASDAQ. Its uniqueness lies in:

• Industry Barometer Role: As a key enterprise in the crypto infrastructure, Circle’s stock price is closely related to the industry’s prosperity, and holding CRCLX is equivalent to gaining "exponential exposure" to the crypto ecosystem.
• Price Performance: As of August 12, 2025, according to the latest market data from Gate, the price of CRCLX is approximately $161.64, with a trading volume exceeding $4.31 million in the past 24 hours, and liquidity ranks among the top in the xStocks ecosystem.

Step-by-step Guide: Purchase CRCLX in the Gate xStocks Section

Gate will launch the world’s first tokenized stock spot and contract dual market on July 3, 2025, becoming the preferred platform for operating xStocks. Here are the specific steps to purchase CRCLX:

Preparation

1. Register an account: Visit Gate.com (non-restricted areas) to complete registration.
2. Prepare USDT: Deposit USDT into your Gate 【spot account】 (multi-chain deposit supported) as the base currency for purchase.

Purchase Process

1. Enter the area: After logging in, click on [Trading] at the top → Select [xStocks Spot Area] or [Alpha Spot Area].
2. Search for trading pairs: Enter CRCLX/USDT in the search box, or directly visit the CRCLX page in the xStocks area.
3. Place an order to buy:
   • Market Order: Immediate execution at the best price
   • Limit Order: Set the ideal purchase price (e.g., $160) to be triggered
   • Enter the purchase amount (minimum $10, supports fractional shares)
4. Confirm holdings: After the transaction is completed, check the CRCLX balance and floating profit and loss on the [Assets] page.

Advanced Features (Optional)

• Contract Trading: Use up to 10x leverage to long/short CRCLX in the Gate xStocks contract market.
• DeFi Appreciation: Transfer CRCLX to supported wallets to participate in staking, lending, or liquidity mining.

Why Choose Gate for Trading xStocks? Core Advantages Analysis

1. Borderless investment experience: Buy global stocks with USDT in one click without a US stock broker account.

2. Product depth leading:

   • The world’s first xStocks perpetual contract market (including CRCLX).
   • The Alpha zone provides institutional-level liquidity with slippage below 0.1%.

3. Settlement Efficiency Revolution:

   • Transaction confirmation has been shortened from the traditional T+2 days to on-chain completion in seconds.
   • Supports cross-chain transfers, increasing asset utilization by more than 10 times.

Risk Warning: Be Aware of the Three Major Challenges

1. Regulatory uncertainty:

   • The SEC has not yet recognized the legality of tokenized stocks, and the policies in Switzerland and Singapore are still evolving.

2. Rights differences:

   • Holders of CRCLX do not have voting rights in Circle, and dividends are indirectly reflected through token value adjustments.

3. Technical and liquidity risks:

   • Extreme market conditions may lead to a short-term price difference of 2%-5%.
   • Some tokens have insufficient on-chain liquidity (for example, data from August 2025: 60% of xStocks daily trading volume is concentrated in the top 6 assets).

Conclusion: The On-chain Entry of Financial Democratization

xStocks is not just a new product; it is a key attempt to reconstruct the global asset flow paradigm. Through platforms like Gate, users can achieve three major values with CRCLX:

• Incorporate stocks into the cryptocurrency asset portfolio to hedge against industry volatility risks.
• Invest small amounts of capital in the growth dividends of core enterprises in tracks like Circle.
• Flexible trading 7×24 hours to seize significant market movements after hours.

With the daily trading volume surpassing 100 million USD, xStocks is driving the transition of crypto finance from "marginal experimentation" to "institutional integration." In the future, as more traditional assets are tokenized and enter the blockchain, the seamless experience of "one wallet, investing globally" will become the standard configuration for a new generation of investors.