Backed Finance and Chainlink have unveiled xBridge, a groundbreaking cross-chain infrastructure that enables tokenized stocks to move seamlessly between Ethereum and Solana while preserving the integrity of traditional corporate actions like dividends and stock splits.
The bridge, powered by Chainlink's Cross-Chain Interoperability Protocol (CCIP), entered pilot phase in December 2025 with a full rollout anticipated in the coming weeks.
The announcement represents a significant milestone in the evolution of tokenized equities, addressing a critical gap in the emerging real-world asset ecosystem.
Until xBridge's introduction, investors faced fragmented liquidity pools across different blockchain networks, limiting the practical utility of tokenized stocks. By enabling frictionless cross-chain transfers, the infrastructure creates a more cohesive market for on-chain equities.
Tokenized stocks, represented by Backed's xStocks product line, are blockchain-based tokens backed one-for-one by actual shares of publicly traded companies and exchange-traded funds. The xStocks offering currently encompasses more than 60 equities and ETFs, including exposure to major corporations such as Apple, Amazon, and Microsoft.
These tokens are freely transferable and composable with decentralized finance protocols, allowing investors to trade around the clock on regulated exchanges like Kraken and Bybit or directly on-chain.
The technical architecture of xBridge accounts for the distinct implementations of xStocks across the two networks. On Solana, xStocks leverage the Token2022 standard with a multiplier-based shares model and automatic rebasing at predefined activation times.
Ethereum's deployment employs a custom rebasing architecture that tracks shares internally and scales displayed balances through an updatable multiplier. Chainlink CCIP infrastructure ensures that cross-chain transfers maintain these technical specifications while preserving the fundamental properties of the underlying assets.
Corporate action fidelity stands as perhaps the most consequential feature differentiating xBridge from conventional bridge solutions. When a company distributes dividends, executes a stock split, or undertakes other material corporate actions, xBridge ensures these events are accurately mirrored across both Ethereum and Solana networks.
This capability proves essential for maintaining investor confidence and preventing the creation of fractured markets where the same asset might carry different rights or values depending on which blockchain holds it.
Chainlink CCIP operates as the security backbone enabling xBridge's functionality. The protocol harnesses Chainlink's decentralized oracle networks, infrastructure that has proven instrumental in securing over 70 percent of decentralized finance globally and facilitating more than 27 trillion dollars in transaction volume.
Each cross-chain transfer receives independent validation from multiple decentralized oracle networks, incorporating modular risk management and policy compliance capabilities.
The partnership builds upon a trajectory of rapid expansion in the tokenized equities market. xStocks achieved exceptional momentum following its launch earlier in 2025, accumulating more than 10 billion dollars in combined exchange and on-chain trading volume within six months.
This trajectory caught the attention of Kraken, the long-standing cryptocurrency platform, which agreed in December 2025 to acquire Backed Finance in a move explicitly designed to accelerate xStocks' global adoption and market penetration.
Industry participants view xBridge as foundational infrastructure for a unified cross-chain market where real-world assets can transact at scale while maintaining institutional-grade security standards. Johann Eid, Chief Business Officer at Chainlink Labs, stated that the integration enables xStocks to move across multiple chains with the highest levels of security, reliability, and compliance, positioning tokenized equities within a globally connected financial system.
Yotam Katznelson, Chief Technical Officer and Chief Operating Officer of Backed Finance, emphasized that the bridge completes a critical loop by allowing tokenized equities to flow between networks while preserving their alignment with traditional stock behavior.
The deployment of xBridge reflects broader momentum in the tokenization of real-world assets. Major financial institutions including BlackRock, Franklin Templeton, and others have introduced tokenized funds and securities, demonstrating institutional validation for blockchain-based asset representation.
Regulatory frameworks, while still evolving, increasingly accommodate tokenized securities structures, particularly as standardized products like xStocks establish operational models that align with existing compliance requirements.
Future expansion remains a stated priority for both organizations. Backed and Chainlink have indicated plans to extend xBridge support beyond Ethereum and Solana to additional blockchain ecosystems, including TON, Tron, Mantle, and BNB Chain, where xStocks integrations are already underway.
This progressive expansion reflects the multichain imperative now central to decentralized finance architecture and suggests that cross-chain asset migration will become an expected feature rather than an exceptional capability.
The technical and operational success of xBridge carries implications extending beyond tokenized equities. The infrastructure's approach to preserving complex asset properties across disparate chains while maintaining security standards potentially establishes precedent for other real-world asset categories, including bonds, commodities, and real estate.
As tokenization moves from experimental pilot phases into mainstream adoption, the ability to bridge assets across networks without compromising their essential characteristics becomes increasingly critical to market development.
xBridge's pilot deployment coincides with a period of intensifying institutional interest in on-chain equity products. The combination of continuous trading availability, reduced settlement friction, and access to global liquidity pools presents compelling advantages over traditional equity trading infrastructure.
For market participants across different jurisdictions, the ability to maintain synchronized asset values and corporate action rights across blockchain networks removes a significant barrier to frictionless international capital markets.
