Kraken, Backed expand tokenized stocks to Tron ecosystem amid RWA push

According to a Binance Research report, tokenized stocks are nearing a major inflection point reminiscent of the early days of decentralized finance.

On Wednesday, cryptocurrency exchange Kraken and tokenization platform Backed Finance announced an expansion of xStocks, a tokenized stock product offering, to the Tron blockchain. The move comes as real-world asset (RWA) tokenization, particularly within stocks, is taking hold.

According to the announcement, Backed will deploy the stocks as TRC-20 tokens. Previously, Kraken and Backed launched xStocks on Solana and BNB Chain. Debuted in late June 2025, xStocks has had more than $2.5 billion in combined DEX and CEX volume, according to a Kraken blog post.

“The enthusiasm developing in the RWA sector is more indicative of a growing institutional confidence in the utility of layer 1 blockchain networks like Tron,” a TronDAO representative told Cointelegraph. “As institutional blockchain continues to evolve, we plan to stay focused on building the infrastructure needed to support long-term adoption and real-world financial use cases.”

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