The xStocks stock tokenization platform's 4-week trading volume reached 300 million USD, is the game just beginning?

xStocks volume surpassed $300 million in four weeks, indicating a rise in the popularity of tokenized stocks. Are RWA stocks just getting started? (Background: What are xStocks tokenized stocks? How to trade? How Solana’s Wall Street is changing the world) (Supplementary background: Science popularization | How to evaluate the value of your crypto stocks using “NAV net asset value”?) Silicon Valley technology and Wall Street capital collide on-chain once again. Swiss fintech company Backed Finance’s xStocks has accumulated a trading volume of over $300 million in just four weeks. According to a report by Coindesk, this tokenized stock product allows investors to trade traditional assets 24/7 on the blockchain through a 1:1 custodial model with real US stocks, making it an important case for the digitization of real-world assets. Solana becomes the traffic engine xStocks relies on the high speed and low cost of the Solana blockchain, providing instant settlement and a global trading experience that never sleeps. In addition to centralized exchanges like Bybit and Kraken, it quickly integrated with decentralized exchanges (DEX) like Raydium and Jupiter in its first week. Solana DEX tokenized stocks achieved a trading volume of $20 million in the initial days, accounting for over 90% of similar products, showing that blockchain infrastructure can support large capital flows. The ability to trade without time differences is certainly attractive, but the key remains asset security. Backed Finance states that all underlying stocks are fully held by regulated custodians, and on-chain minted certificates allow investors to verify holdings at any time, reducing trust costs. Similarities between tokenized stocks and CFDs Beyond the excitement, fundamental questions have arisen in the market. FreedX CEO Anton Golub bluntly stated: “I believe they are just packaged versions of traditional securities, as they do not provide any inherent rights of ownership, such as voting rights or the ability to be direct owners of a company or asset.” Although tokenized stocks have real asset backing, what investors hold are still certificates from the issuer, which similarly lack voting rights like common CFDs in Europe. In other words, while the price tracking function is strong, shareholder rights are stripped away. Liquidity and regulation: Weekend spreads and policy gray areas Another challenge lies in liquidity. Parsec Finance warns that when traditional stock markets are closed and lack major market makers, “there may be considerable spreads over the weekend.” In the short term, retail investors may tolerate slippage, but sustaining liquidity for institutional-level capital remains to be validated. Regulatory aspects are also yet to be fully established. Backed Finance currently operates under Switzerland’s DLT framework, where custodial and disclosure mechanisms are relatively clear, but the applicability of cross-border sales and U.S. securities laws remains to be clarified. Policy uncertainty affects not only product design but also determines the scope of future circulation. Tokenized stocks are seen as an important piece of the puzzle for the tokenization of real-world assets (RWA), but products like xStocks still need to find a balance between efficiency and compliance. The figure of $300 million in four weeks tells the market that the demand for asset digitization has been placed on the table by FinTech, and the next step is the issue of market calibration. Related reports Bitcoin is not as important as RWA! BioSig secures $1.1 billion funding: targeting the $142 trillion tokenized gold and commodities market YZi Labs’ latest investment in Digital Asset quick read: the invisible driving force behind the $4 trillion RWA empire Singapore’s Davis Commodities announces plans to buy $12 million in Bitcoin: tokenizing sugar, rice, and oil targeting the RWA market <xStocks tokenized stock platform’s four-week trading volume reaches $300 million, is the game just beginning?> This article was first published in BlockTempo, the most influential blockchain news media.