$721.86

xStocks are tokenized representations of US stocks and ETFs, designed to lower barriers to investing. Each token is backed 1:1 by the underlying asset and provides a legal claim to the stock's value. The tokens are intended to be composable with DeFi protocols and are structured to comply with EU regulations, making them accessible to non-US users.

The product offers access to 57 US stocks and ETFs through major centralized and decentralized exchanges. As standard tokens, they can be integrated into other DeFi applications. The initiative aims to simplify investing by removing traditional obstacles such as geographic borders and broker limitations, though the source provides limited detail on the specific mechanics of the backing or regulatory framework.