XStocks leads DeFi TVL growth for tokenized stocks with $4M weekly increase

Tokenized stocks are no longer a niche experiment sitting at the edge of DeFi. XStocks, the tokenized equities platform built by Backed Finance and affiliated with Kraken’s parent company Payward, added roughly $3.8 million in DeFi total value locked over the past week, continuing a run that has made it the dominant force in the category. The platform now controls approximately 58% of all tokenized stock deposits flowing into DeFi protocols, with $111 million spread across 15 different protocols. The numbers behind the dominance Beyond raw deposit figures, xStocks is also running the table on tokenized-stock lending. Its lending TVL stands at $23.1 million, capturing 86.5% of market share in that category alone. The platform’s overall DeFi TVL sits in the range of $63 million to $84 million, with assets being actively deployed as collateral and inside liquidity pools rather than sitting idle. On-chain assets under management reach approximately $845 million, which puts the DeFi utilization rate at roughly 9.9%. Cumulative transaction volume across the platform has surpassed $35 billion to $40 billion, and xStocks lists more than 800 assets available across more than 110 countries. ...