X Layer’s xStocks assets near $100M market cap in under three months

Three months ago, X Layer had zero tokenized stocks on its platform. Today it’s sitting on roughly $91.5M in market cap across 836 listed assets, putting it within striking distance of the $100M mark. The milestone represents about 3.1% of the overall tokenized equities market, a slice that didn’t exist before mid-June. And the portfolio is notably well-distributed: no single asset accounts for more than about 9% of total holdings, with the largest being MSTRx, a tokenized version of MicroStrategy stock, sitting at around $8.45M. How X Layer got here X Layer is OKX’s Ethereum layer 2, built using Polygon CDK and zkEVM technology. It officially launched in June 2024. That use case arrived on June 1-2, 2026, when X Layer announced a partnership with xStocks to bring tokenized US equities, ETFs, and commodities onto the chain. By June 15, the integration was live, with assets issued by Backed Finance trading through OKX Wallet. The value proposition is straightforward: 1:1 backed tokens representing real stocks, zero-fee trading, self-custody, and permissionless access. Users in over 110 countries can participate, though US persons are excluded. The chain uses OKB for transaction fees...