XStocks Tokenized Circle Stock Deploys $3M in Decentralized Finance

XStocks has hit a significant milestone in the tokenized equity DeFi market. Roughly $2.9 million worth of CRCLx tokens, which track the price of Circle Internet Group shares, are currently deployed across various decentralized finance platforms.

CRCLx is a tracker certificate that represents a 1:1 backed by underlying Circle shares held by Backed Finance. It was launched in June 2025 and its net asset value has hovered between $71 and $74. Instead of letting the tokens sit idle, holders are deploying them into lending protocols, liquidity pools, and other DeFi applications.

XStocks commands 58% of all tokenized equity deposits across 15 different DeFi applications, with a dominance of 86.5% in tokenized-stock lending. The total transaction volume across the xStocks suite has exceeded $35 billion.