xStocks is the industry standard for tokenized equities launched by Backed in partnership with Kraken. TRON’s high throughput, low-cost infrastructure and global footprint make it a natural fit for xStocks. In the coming weeks, Kraken clients in eligible jurisdictions will be able to deposit and withdraw xStocks directly through the TRON blockchain, enhancing accessibility and optionality for users worldwide. As part of the integration, Backed will deploy xStocks on TRON as TRC-20 tokens, maintaining full 1:1 backing for each tokenized asset. The integration will allow xStocks to be broadly accessible within the TRON ecosystem, enabling tokenized equities to reach a wider audience of builders and users.
“This collaboration highlights how TRON’s decentralized network can bring tokenized equities into a more open, transparent, and accessible environment,” said Justin Sun, Founder of TRON. “Tokenized equities represent a natural evolution for crypto, bridging traditional markets with blockchain. As demand for popular equities meets a global base of previously excluded users, we’ll see a more efficient, flexible, and accessible market.”
“Expanding xStocks to three blockchains in under 60 days shows what’s possible when you design for openness from the start,” Arjun Sethi, Kraken’s co-CEO. “TRON’s scale, low fees, and global reach make it a strong addition to our multi-chain architecture for tokenized equities. Every xStock is fully collateralized, on-chain, and verifiable in real time. This integration moves us closer to a world where equities trade like the internet works — permissionless, borderless, and interoperable across ecosystems.”
“xStocks’ expansion to TRON is a natural step, aligning the blockchain’s dominance in stablecoin transfers with tokenized equities, crypto’s next major use case” said Adam Levi, Backed’s co-founder. “Millions around the world already use TRON’s low-cost, high-throughput infrastructure for tokenized US dollars. Now, they’ll be able to do the same with tokenized equities.”
This integration strengthens TRON’s position as a critical link between traditional finance and decentralized infrastructure. With tokenized equities now joining stablecoins and other real-world assets on TRON, the network offers one of the most comprehensive environments for exploring, building, and deploying financial applications on chain.
This is a major step forward for tokenized markets. With TRON’s global reach and fast, reliable network, people around the world can now access asset classes that were once reserved for a small group. TRON DAO shares a core belief that tokenized equities must be widely accessible, permissionless, and interoperable across ecosystems, giving users the freedom to access markets on the networks they trust. It represents a major step forward in how investors connect with traditional markets, removing intermediaries, enabling access at any time, and advancing a more transparent, efficient, and equitable global financial system.
xStocks are not available in the U.S. or to U.S. persons. Geographic restrictions apply.
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017 by H.E. Justin Sun, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, exceeding $82 billion. As of August 2025, the TRON blockchain has recorded over 324 million in total user accounts, more than 11 billion in total transactions, and over $26 billion in total value locked (TVL), based on TRONSCAN.
Founded in 2021, Backed is a Swiss-based issuer of permissionless tokens tracking the value of publicly listed equities and ETFs. Its flagship product line, xStocks, provides compliant, 1:1-backed tokenized equities available across multiple blockchain ecosystems.
Kraken is a technology platform built on crypto that unlocks access and reduces inefficiencies to drive financial freedom — for the crypto economy and beyond.
Millions of individuals, professional traders, and institutions around the world use Kraken to trade digital and traditional assets, including cryptocurrencies, national currencies, U.S. futures, and U.S.-listed stocks and ETFs.
