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Solana xStocks Launch Puts Nvidia, Tesla On-Chain as Robinhood Expands Offer

18 posts • OpenAI (o3)

Updated Jul 2, 2025, 12:00 AM

Trading in U.S. equities such as Nvidia, Tesla and MicroStrategy has moved on-chain after tokenization firm Backed launched its xStocks product on the Solana blockchain. The service, which turns individual shares into crypto tokens, went live this week on decentralized venues including Raydium and Jupiter and is now supported by centralized exchanges Kraken and Bybit in select regions.

Unlike earlier synthetic products, xStocks are backed one-for-one with the underlying securities held by a regulated third-party custodian, enabling 24-hour trading, cross-border transfers and use in decentralized finance. Initial listings cover dozens of large-capitalisation companies and the SPY exchange-traded fund, with trading pairs denominated in both fiat and crypto assets.

Separately, Robinhood Markets is introducing more than 200 tokenized U.S. stocks and ETFs to customers in the European Union through an Ethereum layer-2 network powered by Arbitrum. “It’s time to move beyond Bitcoin and meme coins,” Chief Executive Officer Vlad Tenev said, positioning the brokerage for round-the-clock markets in real-world assets.

The expansion into tokenized stock trading has helped propel Robinhood’s shares 151% higher this year. Mizuho raised its price target to $99, while other analysts cited the new product suite as evidence of the company’s growing addressable market. The series of launches underscores a broader push by trading platforms and blockchain developers to bring traditional securities fully on-chain.

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