On June 30, 2025, xStocks is in officially launched on the Solana blockchain, its trading volume exceeded 2.1 billion dollars in just six weeks. This financial innovation initiated by the Swiss compliance platform Backed Finance is seamlessly bringing the traditional stock market into the crypto world through 1:1 fully collateralized real stock assets.
By August 2025, investors will be able to trade over 60 tokenized stocks and ETFs on-chain, including well-known companies such as Apple, Tesla, and Circle.
xStocks Revolution: When Traditional Stocks Meet Blockchain
Many global investors face issues such as cumbersome processes, high costs, and limited trading hours when purchasing U.S. stocks. Traditional equity markets not only require transactions to be carried out through intermediaries within specific time frames, but also involve complex paperwork and settlement periods that can last for several days.
The emergence of xStocks is precisely to address these pain points. It is a tokenized stock solution launched by the Swiss compliant platform Backed Finance, which converts real listed company stocks into digital assets that can be freely traded on the blockchain through 1:1 full collateralization.
Each token is backed 1:1 by real stocks held by a regulated custodian, with the underlying stocks custodied by licensed banks in Switzerland (such as InCore Bank) and regularly subjected to on-chain audits. The trading codes for xStocks end with "x", such as NVDAx (NVIDIA) and AMZNx (Amazon), making it easy for users to identify.
Core Advantages: Why Choose xStocks?
xStocks has multiple advantages over traditional stock markets, with 24/7 trading breaking the time constraints of traditional stock markets from 9:30 AM to 4:00 PM EST, allowing users to respond to significant market movements at any time.
It supports fragmented investment, with a minimum purchase of $10 through a fractional share mechanism, significantly lowering the investment threshold for blue-chip stocks. These tokens, issued based on both ERC-20 and Solana SPL dual standards, can be transferred to wallets or DeFi protocols to participate in staking, lending, and other scenarios.
Real-time on-chain settlement replaces the traditional T+2 settlement cycle, greatly improving capital efficiency. Global users can invest in tokenized U.S. stocks without the need for a U.S. brokerage account, no longer restricted by geographical limitations.
TSLA Stock Price Performance and Market Dynamics
As of August 20, 2025, Tesla (TSLA) closed at $323.9 in the traditional stock market, down 1.64% on that day, with a trading volume of $24.812 billion, ranking 3rd among US stocks for the day.
Looking at a longer time frame, Tesla’s stock has fallen 4.56% over the past 5 trading days, risen 5.07% throughout August, decreased 19.79% year-to-date, and increased 46.49% over the past 52 weeks.
Tesla recently launched a new six-seater Model Y L in the Chinese market, aiming to solidify its position in the increasingly competitive family electric vehicle segment. The new model is priced at 339,000 RMB (approximately 47,180 USD) and is scheduled for delivery starting in September.
Practical Guide: How to Purchase TSLAX in the Gate xStocks Area
Gate launched the world’s first tokenized stock spot and contract dual market on July 3, 2025, becoming one of the preferred platforms for operating xStocks.
- Preparation: First, you need to visit Gate.com (non-restricted regions) to complete account registration, and then deposit USDT into the Gate 【Spot Account】 (multi-chain deposits supported) as the base currency for purchases.
- Purchase process: After logging in, click on the top 【Trading】 → Select 【xStocks Spot Area】 or 【Alpha Spot Area】. Enter TSLAX/USDT in the search box, or directly visit the TSLAX page in the xStocks area.
- Place an order to buy: You can choose a market order (executed immediately at the best price) or a limit order (set an ideal purchase price to wait for triggering), enter the purchase amount (minimum $10, fractional shares supported). After the transaction is completed, check the TSLAX balance and floating profit and loss on the [Assets] page.
Advanced Features and Strategy Applications
In addition to spot trading, Gate’s xStocks section also offers contract trading features, allowing users to leverage up to 10 times to long/short TSLAX and other tokenized stocks in the xStocks contract market.
For more advanced users, the xStocks token can be withdrawn to a supported wallet to participate in DeFi applications such as lending, liquidity mining, and more. For example, users can use AAPLx as collateral to borrow stablecoins on Kamino while investing the remaining amount into Raydium’s liquidity pool to earn fees.
These features enable users to implement various trading strategies, such as being able to open a short position on xStocks to hedge risks immediately even when the traditional market is closed, in case of sudden negative news after US stock trading hours.
Risks and Challenges: Necessary Awareness Before Investment
Despite the unprecedented convenience offered by xStocks, investors must remain clear-eyed about the challenges involved. Regulatory uncertainty is the primary concern— the SEC has yet to recognize the legality of tokenized stocks, and policies in Switzerland and Singapore are still evolving.
Differences in rights also need to be noted: holding tokenized stocks such as CRCLX does not grant voting rights in the corresponding company, and dividends are indirectly reflected through token value adjustments rather than being directly distributed.
Technical and liquidity risks exist equally: extreme market conditions may lead to short-term price differences of 2%-5%, and some tokens have insufficient on-chain liquidity (data from August 2025 shows that 60% of xStocks’ daily trading volume is concentrated in the top 6 assets).
Future Outlook
As of August 20, 2025, Tesla (TSLA) traditional stock price closed at $323.9, down 1.64% from the previous day. Its tokenized version TSLAx is traded at a price pegged to it on platforms like Gate.
xStocks Alliance - including institutions like Backed, Gate, and Solana - is driving this transformation. In the future, when more traditional assets enter the blockchain, a seamless experience of "one wallet, invest globally" will become the standard configuration for the next generation of investors.
