Trust Wallet Brings Tokenized U.S. Equities to 200 Million Users Through xStocks Integration

In a move that could fundamentally reshape how retail investors access traditional equity markets, Trust Wallet announced on September 19, 2025, its integration with the xStocks Alliance, bringing tokenized U.S. stocks directly to its 200 million global users. This partnership with Kraken and Backed Finance represents one of the most significant bridges between traditional finance and decentralized ecosystems to date.

What This Integration Means for Users

The integration transforms Trust Wallet from a purely crypto-focused platform into a comprehensive financial gateway that seamlessly blends digital assets with traditional equity exposure. Users can now purchase, hold, and trade tokenized versions of major U.S. stocks like Apple (AAPLx), Tesla (TSLAx), and GameStop (GMEx) directly within their self-custody wallets, using local fiat currencies and without requiring traditional brokerage accounts.

The integration provides access to over 60 U.S.-listed digital stocks, trading 24/7 on blockchain networks, primarily targeting international, non-U.S. users. This 24/7 availability represents a significant departure from traditional stock market hours, potentially allowing users to react to global events and news outside of conventional trading windows.

The xStocks Framework: Bridging Two Worlds

xStocks, developed through the collaboration between Kraken and Backed Finance, function as tokenized representations of real-world stocks and ETFs, with each xStock backed 1:1 by the underlying equity and issued as an SPL token on-chain. This backing mechanism ensures that every digital token has corresponding real-world assets held in reserve, addressing concerns about the legitimacy and stability of tokenized securities.

These blockchain-based representations mirror the value of the underlying stock and can be bought, sold, or held just like any other token in your crypto wallet. The tokenization process effectively creates a digital twin of traditional securities that operates within the decentralized finance ecosystem while maintaining direct correlation to real-world market values.

Multi-Chain Accessibility and Technical Infrastructure

One of the most significant aspects of this integration is its multi-chain approach. Trust Wallet users can now buy and hold 60 different xStocks using a variety of local fiat currencies, with deposits and withdrawals enabled across multiple chains, including Solana, BNB Chain, Tron, and Ethereum.

This blockchain-agnostic strategy addresses one of the crypto industry's most persistent challenges: fragmentation across different networks. By supporting multiple blockchains, the integration ensures users aren't locked into a single ecosystem and can choose their preferred blockchain based on factors like transaction costs, speed, and existing token holdings.

The technical architecture also enables Trust Wallet users to deposit and withdraw xStocks from popular crypto exchanges, including Kraken, across this wide range of blockchains, creating liquidity bridges between centralized and decentralized trading venues.

Market Impact and Adoption Trajectory

Since its launch in June 2025, the xStocks ecosystem has demonstrated remarkable traction. The tokenized equity platform has already surpassed $4 billion in combined CEX and DEX volume, underscoring strong market demand for this new asset class. This volume suggests a significant appetite for borderless, always-accessible equity trading among crypto-native users.

The Trust Wallet integration represents a crucial scaling moment for tokenized equities. With 200 million users, Trust Wallet commands one of the largest self-custody wallet user bases globally, potentially exposing millions of users to tokenized stocks for the first time.

Regulatory Considerations and Target Markets

The integration primarily targets international users outside the United States, reflecting the complex regulatory landscape surrounding tokenized securities. Traditional equity markets operate under strict jurisdictional rules, and the tokenized approach provides a pathway for international users to access U.S. capital markets without navigating complex cross-border brokerage requirements.

These tokens are backed by equivalent assets managed by licensed custodians such as Backed Finance, ensuring compliance with applicable financial regulations while maintaining the decentralized accessibility that crypto users expect.

Industry Leadership Perspectives

Trust Wallet CEO Eowyn Chen emphasized the transformational nature of the integration, stating that it represents "bridging the gap between Web3 and traditional markets in a way that's intuitive, borderless and user-first. This collaboration brings tokenized equities directly into the hands of millions, no brokerage account needed."

Kraken co-CEO Arjun Sethi positioned the development within a broader vision of financial infrastructure evolution, describing it as "more than integration — it's a paradigm shift" toward "a future where global markets operate without borders, without barriers, and with the same openness and accessibility as the internet itself."

Adam Levi, co-founder of Backed Finance, characterized the partnership as "a monumental step in realizing our vision for universal access," reinforcing the positioning of xStocks as a "public good" that should be accessible across blockchain ecosystems.

Technical Implementation and User Experience

The integration leverages Trust Wallet's established multi-chain infrastructure and intuitive interface design. Users can seamlessly transition between managing their crypto holdings and traditional equity exposure within a single application, eliminating the friction typically associated with maintaining separate financial accounts across different asset classes.

Backed will continue to issue xStocks as fully collateralized, on-chain tokens, maintaining strict 1:1 backing for each tokenized equity that a Trust Wallet user purchases, with Trust Wallet's user-friendly interface and expansive ecosystem support ensuring that tokenized equities are easily accessible.

This approach addresses one of the fundamental challenges in crypto adoption: complexity. By embedding traditional equity access within familiar crypto interfaces, the integration reduces the learning curve for users already comfortable with decentralized finance concepts.

Broader Implications for DeFi and Traditional Finance

The Trust Wallet-xStocks integration represents more than a product launch; it signals a potential restructuring of how financial markets operate. Traditional equity trading has historically been constrained by geography, market hours, minimum investment amounts, and intermediary requirements. Tokenization addresses each of these limitations simultaneously.

For DeFi protocols and applications, tokenized equities create new opportunities for yield generation, lending, and complex financial products. Developers can now integrate exposure to traditional markets into their applications without requiring users to exit the crypto ecosystem.

The development also suggests growing institutional acceptance of blockchain-based financial infrastructure. Major exchanges like Kraken positioning tokenized equities as a core product indicate confidence in both the technology and regulatory pathway for such innovations.

Future Expansion and Ecosystem Growth

The Trust Wallet integration marks just one milestone in xStocks' broader expansion strategy. The platform has recently added support for BNB Chain, TRON, and Ethereum, while launching services for EU-based clients, indicating aggressive geographic and technological expansion.

The blockchain-agnostic approach reflects a strategic recognition that the future of tokenized assets likely involves multiple blockchain networks rather than dominance by any single platform. This interoperability focus could prove crucial as the tokenized securities market matures and different blockchains develop specialized advantages for different use cases.

Challenges and Considerations

Despite the promising trajectory, several challenges remain for the widespread adoption of tokenized equities. Regulatory clarity varies significantly across jurisdictions, and users must navigate complex compliance requirements depending on their location and the specific tokens they wish to trade.

Additionally, while 24/7 trading availability offers advantages, it also means tokenized equity prices may diverge from underlying stock prices during traditional market closures, potentially creating arbitrage opportunities but also pricing complexity for retail users.

The success of the Trust Wallet integration will likely depend on user education and the development of clear documentation around the differences between tokenized and traditional stock ownership, including rights, dividends, and voting privileges.

Conclusion: A New Chapter in Financial Infrastructure

The Trust Wallet-xStocks integration represents a significant evolution in the convergence of traditional and decentralized finance. By eliminating traditional barriers to equity market access while maintaining regulatory compliance and asset backing, the partnership creates a template for future financial product integrations.

With $4 billion in trading volume already established and 200 million new potential users gaining access through Trust Wallet, tokenized equities appear positioned to become a permanent fixture in the broader financial landscape. The success of this integration may determine whether tokenized securities remain a niche crypto product or evolve into a mainstream alternative to traditional brokerage services.

As the lines between traditional and decentralized finance continue to blur, partnerships like Trust Wallet-xStocks suggest a future where users seamlessly navigate between asset classes without the friction, borders, and intermediaries that have historically defined financial markets. The next phase of this evolution will depend on regulatory developments, user adoption rates, and the crypto industry's ability to deliver on its promise of democratized financial access.