xStocks, Payward‘s tokenized equities framework, has surpassed $1 billion in assets under management as of October 27, 2026, marking a significant adoption milestone for blockchain-based representations of global stocks and ETFs. The platform, which launched at limited scale in June 2025 with 60 U.S.-listed assets on Solana, has expanded to cover more than 1,500 tokenized representations spanning U.S., UK, European, and Hong Kong markets, with coverage now including Russell 1000 constituents representing approximately 93% of U.S. equity market capitalization.
- AUM Growth: $1 billion as of October 27, 2026; quadrupled from $225 million in February 2026
- Cumulative Transaction Volume: Over $45 billion across trading venues
- Global Holders: More than 550,000 users worldwide
- DeFi Deployment: Over $100 million deployed across decentralized finance protocols
- Blockchain Coverage: Operating across more than 10 blockchain networks with 550+ alliance partners
The rapid expansion reflects growing international demand for tokenized assets in markets where geographic barriers and fragmented infrastructure have historically limited participation. xStocks is currently unavailable to U.S. investors and U.K. residents, with distribution concentrated among eligible customers in other global jurisdictions. The platform operates through fully collateralized, 1:1-backed tokens issued by Backed Assets (JE) Limited in Jersey, with regulatory oversight provided by the Bermuda Monetary Authority and Cyprus Securities and Exchange Commission (CySEC).
A billion dollars is a milestone on the path to something much larger. The opportunity ahead is measured in the trillions as entire capital markets move onchain and tokenization extends to every kind of asset. Our ambition is to make xStocks the universal standard for bringing real-world assets onchain, then give people easy ways to reach those assets in the apps they already use.
– Val Gui, General Manager of xStocks
xStocks has also deployed over $100 million across DeFi protocols, enabling holders to earn yield or use tokenized assets as collateral, a figure exceeding any other tokenized asset issuer. The platform operates as a common infrastructure layer, allowing centralized exchanges, consumer applications, and DeFi protocols to offer exposure to global capital markets. Payward is pursuing expanded distribution through mainstream financial applications and deepening relationships with traditional market infrastructure providers, including Nasdaq and the London Stock Exchange.
Val Gui, General Manager of xStocks. Source: LinkedIn
