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

On Wednesday, cryptocurrency speech Kraken and tokenization level Backed Finance announced an enlargement of xStocks, a tokenized banal merchandise offering, to the Tron blockchain. The determination comes arsenic real-world plus (RWA) tokenization, peculiarly wrong stocks, is taking hold.

According to the announcement, Backed volition deploy the stocks arsenic TRC-20 tokens. Previously, Kraken and Backed launched xStocks on Solana and BNB Chain. Debuted successful precocious June 2025, xStocks has had much than $2.5 cardinal successful combined DEX and CEX volume, according to a Kraken blog post.

“The enthusiasm processing successful the RWA assemblage is much indicative of a increasing organization assurance successful the inferior of furniture 1 blockchain networks similar Tron,” a TronDAO typical told Cointelegraph. “As organization blockchain continues to evolve, we program to enactment focused connected gathering the infrastructure needed to enactment semipermanent adoption and real-world fiscal usage cases.”

According to DefiLlama, the Tron blockchain has a $6.2 cardinal full worth locked (TVL) arsenic of Tuesday. This TVL ranks Tron 5th wide among each blockchains. TVL is simply a commonly utilized metric to find the wellness of a decentralized concern ecosystem. However, Tron’s TVL connected Jan. 1, 2025, was $7.3 billion, indicating that it has dropped 15% this year.

Tron TVL implicit time. Source: DefiLlama

Ethereum inactive dominates DeFi enactment with a TVL of $89 billion, accounting for 60% of TVL crossed each blockchains. On July 29, investing and trading level eToro announced plans to tokenize 100 of the astir fashionable US stocks connected Ethereum. On June 30, Robinhood launched a layer-2 blockchain for trading of US assets successful Europe.

Related: DeFi soars with tokenized stocks, but idiosyncratic enactment shifts to NFTs: Report 

RWA tokenization gains steam successful 2025

RWA tokenization has gained momentum successful 2025 arsenic institutions lukewarm up to putting assets similar US Treasurys, backstage recognition and stocks connected the blockchain. According to RWA.xyz, the RWA tokenization marketplace has grown to $26.4 cardinal arsenic of past Tuesday, up from $15.6 cardinal connected Jan. 1, 2025.

According to a Binance Research study shared with Cointelegraph, tokenized stocks are nearing “a large inflection point” and are seeing a maturation complaint akin to the aboriginal days of decentralized finance.

Nansen CEO Alex Svanevik wrote successful an sentiment portion for Cointelegraph that the existent accidental with tokenized stocks lies not successful the nationalist marketplace but successful the private, wherever determination are deeper inefficiencies.

Magazine: TradFi is gathering Ethereum L2s to tokenize trillions successful RWAs — Inside story