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Kraken and Backed Finance have expanded their tokenized inventory product xStocks to the Tron blockchain, exhibiting the rising demand for turning real-world belongings like shares into digital tokens.
As a part of the rollout, Backed will challenge xStocks as TRC-20 tokens on TRON, with every token absolutely backed 1:1 by the underlying asset. This integration will convey tokenized equities to TRON’s giant ecosystem, giving builders and customers wider entry to real-world asset buying and selling.
Since its launch in late June 2025, xStocks has recorded over $2.5 billion in mixed buying and selling quantity on centralized and decentralized exchanges, Kraken mentioned.
Wall Road’s going on-chain ⛓️
Kraken is launching tokenized shares & ETFs with @BackedFi’s new @xStocksFi, plus increasing MiFID-regulated derivatives within the EU 🇪🇺
Subsequent-gen markets are right here. We’re already constructing them 🧱
All on this week’s #KrakenIn60 👇 pic.twitter.com/o0joLZ7qa1
— Kraken (@krakenfx) Might 23, 2025
In accordance with a TronDAO spokesperson, the rising curiosity in RWAs reveals rising belief in layer-1 blockchains like Tron. He added that Tron will preserve constructing the infrastructure wanted for long-term adoption and real-world monetary use circumstances.
TRON founder Justin Solar mentioned TRON makes tokenized shares extra accessible, whereas Kraken’s Arjun Sethi famous that xStocks are absolutely backed and verifiable on-chain. As well as, Backed’s Adam Levi added that TRON’s success with stablecoins now extends to tokenized equities.
TRON Now An Even Stronger Bridge Between TradFi And Blockchain
TRON’s quick, low-cost community and international attain make it a really perfect residence for the mission. Quickly, Kraken customers in supported areas will be capable to deposit and withdraw xStocks immediately via TRON, making it simpler and extra handy to entry tokenized belongings.
This integration makes TRON a good stronger bridge between conventional finance and blockchain. With tokenized shares now becoming a member of stablecoins and different real-world belongings, TRON provides some of the full platforms for constructing monetary apps on-chain.
It’s an enormous step for tokenized markets. TRON’s quick and international community provides folks all over the place to entry belongings that after have been restricted. TRON DAO believes tokenized shares must be open, straightforward to make use of, and work throughout completely different networks, giving customers extra freedom.
This modification removes middlemen, permits 24/7 entry, and helps create a fairer and extra clear monetary system.
TRON’s decentralized finance (DeFi) community is bouncing again after an enormous drop earlier in 2025, knowledge from DeFiLlama reveals.

Tron TVL over time. Supply: DefiLlama
In 2021, TRON’s whole worth locked (TVL) grew shortly, shifting previous $6 billion. The community confronted ups and downs in 2022 and 2023, however managed to maintain regular development. By 2024, TRON hit new highs with TVL above $9 billion, exhibiting sturdy demand from customers and buyers.
Issues modified firstly of 2025 when TVL fell sharply, reaching its lowest level since mid-2022. This raised considerations concerning the well being of the DeFi market on TRON.
Nevertheless, TVL has began climbing once more and is now above $6 billion once more. The restoration is linked to increased stablecoin exercise and TRON’s rising use in funds.
Ethereum Leads DeFi As RWA Tokenization Pushes Market To $26.4B
Ethereum continues to steer DeFi with $89 billion in whole worth locked (TVL), making up about 60% of all blockchain exercise. On July 29, eToro mentioned it would tokenize 100 common U.S. shares on Ethereum. A month earlier, Robinhood launched a layer-2 blockchain in Europe for buying and selling U.S. belongings.
Actual-world asset (RWA) tokenization is gaining momentum this yr as extra establishments put belongings like US Treasurys, personal credit score, and shares on-chain. Information from RWA.xyz reveals the market reached $26.4 billion final week, up from $15.6 billion firstly of the yr.
A Binance Analysis report famous that tokenized shares are approaching a “key development stage,” just like DeFi’s early years. Nansen CEO Alex Svanevik added that the largest alternative lies in personal markets, the place inefficiencies are bigger than in public markets.
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