Backed and Chainlink launch xBridge to connect tokenized stocks across Ethereum and Solana
Backed and Chainlink have introduced a new cross-chain infrastructure for tokenized stocks that aims to mirror traditional market events across multiple blockchains.
xBridge pilot connects Ethereum and Solana
Backed, a leading provider of compliant tokenized equities and ETFs, has partnered with Chainlink to launch xBridge, described as the first cross-chain infrastructure purpose-built for tokenized stocks. The solution focuses on preserving corporate actions such as dividends, stock splits, and other events as assets move between blockchains.
The system, powered by Chainlink CCIP, currently enables transfers of Backed’s xStocks between Ethereum and Solana. Moreover, the design ensures these instruments remain fully backed while accurately reflecting traditional stock behavior, even as they circulate across different networks.
The bridge is already live in a pilot phase, with a broader rollout planned in the coming weeks. That said, the team has indicated that support for additional blockchains is on the roadmap, aiming to further enhance tokenized equities blockchain interoperability for both retail and institutional participants.
Preserving corporate actions across chains
According to Backed, xBridge ensures that actions such as dividends and stock splits are accurately mirrored across supported chains. This guarantees that stocks tokenized through its infrastructure behave consistently with their underlying traditional assets, regardless of where they are held or traded on-chain.
In a statement, Yotam Katznelson, CTO and COO of Backed Finance, highlighted the technical effort behind the integration. “We have gone to incredible lengths to bring tokenized equities in the most secure way to both Solana and Ethereum, and now we’re finally connecting these ecosystems,” Katznelson said, underscoring the importance of maintaining corporate action fidelity across networks.
The new bridge, he added, completes the loop by allowing tokenized equities to move between chains while keeping their traditional stock characteristics intact. However, the focus is not only on transfer mechanics but also on preserving economic rights, such as entitlements to dividends and adjustments during stock splits.
Architecture on Solana and Ethereum
On Solana, Backed’s xStocks use the Token2022 standard, combined with a multiplier-based “Shares Model” and automatic rebasing at predefined Activation Times. This architecture, noted by Backed, allows the system to adjust token balances in response to corporate events, while maintaining accurate share representation on-chain.
On Ethereum, the setup differs but targets the same outcome. A custom rebasing architecture tracks shares internally and scales displayed balances using an updatable multiplier. Moreover, this design helps keep the tokenized stocks synchronized with their real-world counterparts without requiring users to manually manage adjustments after corporate actions.
These parallel mechanisms on Solana and Ethereum form the technical foundation that allows xbridge tokenized stocks transfer capabilities to function while preserving investor rights. That said, both implementations rely on deterministic, rules-based logic to mirror traditional stock market events on-chain.
Toward a unified cross-chain market for tokenized assets
Johann Eid, Chief Business Officer at Chainlink Labs, emphasized the broader implications of the release. “This integration enables xStocks to seamlessly move across multiple chains with the highest levels of security, reliability, and compliance, making tokenized equities accessible in a globally connected financial system,” he said.
Moreover, Eid described xBridge as a major step toward a unified cross-chain market where real-world assets can be transacted at scale. He noted that the collaboration seeks to deliver institutional-grade security while simplifying access to tokenized equities and other real-world assets for users across the crypto ecosystem.
While the current pilot focuses on Solana Ethereum tokenized equities connectivity, the planned expansion to additional chains suggests a longer-term roadmap. However, the project will still need to demonstrate resilience, regulatory robustness, and operational reliability as trading volumes grow.
Outlook for cross-chain tokenized equities
The introduction of xBridge highlights how infrastructure providers are racing to create more seamless cross chain tokenized stocks markets. By ensuring that dividends and stock splits are properly reflected across networks, the partners aim to make tokenized equities behave like traditional securities while benefiting from blockchain-based settlement.
For Backed and Chainlink, the partnership positions both firms at the center of emerging real-world asset infrastructure. If adoption scales as anticipated in 2024, the combined approach of on-chain fidelity to corporate actions and secure cross-chain transfer mechanics could become a model for future tokenization platforms.
In summary, the launch of the Chainlink CCIP bridge integration with Backed’s xBridge marks an important milestone in connecting equity tokenization efforts across major blockchains. The project now moves from pilot to broader deployment, aiming to prove that tokenized representations of traditional stocks can move freely between networks without sacrificing accuracy or investor protections.
Ayrıca Şunları da Beğenebilirsiniz
👨🏿🚀TechCabal Daily – Sun King makes it rain
Cathie Wood: “We Sold Some $TSLA Near Highs and Bought #Crypto”
