Backed, Chainlink Unveil xBridge to Move Tokenized Stocks Between Solana and Ethereum

Web3 Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Backed, Chainlink Unveil xBridge to Move Tokenized Stocks Between Solana and Ethereum The bridge uses Chainlink's CCIP to ensure consistent behavior across chains, mirroring the behavior of underlying assets. By Francisco Rodrigues | Edited by Jamie Crawley Dec 12, 2025, 3:00 p.m. (sergeitokmakov/Pixabay, modified by CoinDesk) What to know : Backed Finance has introduced xBridge, a cross-chain bridge that enables tokenized stocks to move between Ethereum and Solana while tracking stock splits, dividends, and other corporate actions. The bridge uses Chainlink's Cross-Chain Interoperability Protocol (CCIP) to ensure consistent behavior across chains, mirroring the behavior of underlying real-world assets. XBridge is live in pilot mode, with plans to add support for additional blockchains like Mantle and TRON, and is already integrated with major cryptocurrency trading platforms, including Kraken. Backed Finance is introducing xBridge, a new cross-chain bridge designed to move tokenized stocks across blockchains without losing track of stock splits, dividends or other corporate actions. Unveiled at Solana Breakpoint and built in partnership with Chainlink, xBridge enables users to transfer tokenized equities, called xStocks, between Ethereum and Solana, according to an emailed announcement on Friday.l STORY CONTINUES BELOW Don't miss another story. Subscribe to the The Protocol Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . These tokens are 1:1 backed by real-world stocks or ETFs and mimic their behavior onchain, including how they respond to events like a stock split or dividend payout. xBridge uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to ensure that when a token moves from one chain to another, its link to the underlying asset and its behavior remains intact. “For years, crypto had either permissionless native digital assets or RWAs closed behind walled gardens. said Yotam Katznelson, CTO and COO of Backed. “With xStocks, we brought tokenized equities into DeFi permissionlessly, and now with xBridge, we are completing the loop: tokenized stocks can finally flow as freely as any other crypto asset:” On Ethereum, balances are scaled with an updatable multiplier. On Solana, they rely on Token2022 and automatic rebasing. But the outcome is the same: token balances update to reflect splits or dividend events, even after crossing chains. Backed’s xStocks are already live across a number of cryptocurrency trading platforms, including major centralized exchanges. One of those exchanges, Kraken, acquired Backed Finance earlier this month. With the bridge live in pilot mode, Backed plans to add support for Mantle, TRON and other blockchains in the coming weeks. Chainlink Tokenized Equity Tokenization More For You Protocol Research: GoPlus Security By CoinDesk Research Nov 14, 2025 Commissioned by GoPlus What to know : As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M. GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month. Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B. View Full Report More For You UAE’s Largest Fuel Retailer Will Accept Stablecoin in 980 Stations in Three Countries By Olivier Acuna | Edited by Jamie Crawley 16 minutes ago A new deal with Al Maryah Community Bank brings stablecoin payments to the pumps, shops and car washes at ADNOC retailers in UAE, Saudi Arabia and Ethiopia. What to know : ADNOC Distribution will accept AE Coin stablecoin for payments at nearly 980 service stations across the UAE, Saudi Arabia, and Egypt. The company has partnered with Al Maryah Community Bank to enable AE Coin payments via the AEC Wallet at fuel pumps, convenience stores, and car washes. AE Coin, the UAE's first stablecoin licensed by the Central Bank, is backed 1:1 with dirhams and marks a significant step in integrating digital payments into everyday retail. 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