XStocks leads tokenized stock issuers with $17M market cap growth in a single week

XStocks, the tokenized equities platform built by Backed Finance and now under Kraken parent company Payward, added $17.3 million in market cap over the past seven days. That makes it the fastest-growing issuer in a tokenized stock market that has quietly ballooned to roughly $2.8 billion in total capitalization. To put that weekly gain in perspective: the next closest competitor, Ondo Finance, managed $10 million in growth over the same stretch. Superstate added $3.9 million. Robinhood trailed at $3.3 million. XStocks nearly doubled the runner-up. From 60 stocks to 700 in just over a year XStocks launched on Solana on June 30, 2025, with a relatively modest catalog of around 60 US stocks and ETFs available as tokens. Fourteen months later, the platform lists more than 700 assets and claims over $35 billion in cumulative transaction volume. The holder base has expanded to approximately 200,000 wallets. Each xStocks token is backed 1:1 by actual shares held in regulated custody. When someone buys an xStocks token representing, say, Apple stock, a real Apple share sits in a custodial account somewhere. The model is designed to offer the compliance assurances of traditional brokerage ...