XStocks Dominates Tokenized Stock DeFi with $3.8M Weekly Growth
XStocks, a tokenized equities platform built by Backed Finance and affiliated with Kraken's parent company Payward, has taken the lead in DeFi TVL growth for tokenized stocks. Over the past week, XStocks added approximately $3.8 million to its total value locked (TVL), solidifying its position as the dominant force in this category.
The platform now controls around 58% of all tokenized stock deposits flowing into DeFi protocols, with a total of $111 million spread across 15 different protocols. Its lending TVL stands at $23.1 million, capturing an impressive 86.5% market share in that category alone.
XStocks has achieved this remarkable growth since its launch in late June 2025. The platform's overall DeFi TVL sits between $63 million and $84 million, with assets being actively deployed as collateral and inside liquidity pools rather than sitting idle. On-chain assets under management reach approximately $845 million, putting the DeFi utilization rate at roughly 9.9%.