KuCoin announced the launch of xStocks on July 18, 2025, a new platform for trading tokenized equities, marking a major expansion of their multi-asset offerings.

The platform is developed in partnership with Swiss company Backed and is designed with structural safeguards, including third-party custodians and compliance with the Swiss DLT Act.

This initial batch of tokenized assets includes popular equities and ETFs, offering diversified exposure within a regulated framework.

Founded in 2017, KuCoin supports over 41 million users across more than 200 countries, establishing itself as a leading and secure cryptocurrency exchange.

KuCoin aims to provide a seamless, low-barrier investment gateway that allows global investors to easily transition between traditional equities and cryptocurrencies using USDT.

The launch of xStocks makes KuCoin the first USDT-denominated tokenized equity platform available in many countries, enhancing accessibility for investors worldwide.

KuCoin's CEO, BC Wong, highlighted the platform’s mission to protect user assets and bridge traditional finance with the Web3 ecosystem, fostering long-term growth.

The launch coincides with notable market milestones, including NVIDIA surpassing a $4 trillion market cap and Bitcoin reaching an all-time high of over $120,000 in July 2025.

All tokenized assets are stored with regulated third-party custodians, with proof of reserves from Chainlink expected soon to ensure transparency and security.

xStocks offers flexible investment strategies, allowing users to diversify their portfolios across traditional stocks and digital assets seamlessly, enhancing capital efficiency.

xStocks features assets like SPYx, CRCLx, TSLAx, MSTRx, and NVDAx, all backed 1:1 by real stocks held securely, providing investors with tangible asset backing.

Backed, KuCoin’s partner, specializes in compliant tokenized equities and ETFs, aiming to integrate with both Ethereum and Solana ecosystems for broader adoption.