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OKX launches unified tokenized US stocks with Backed xStocks
The tokens are tradable around the clock against USDT and are backed 1:1 by shares held in custody on issuers behalf.
OKX has launched its Unified Tokenized Stocks product for eligible traders, and the service is now live for users in Southeast Asia, Northeast Asia, the CIS region, MENA, and Türkiye, while excluding traders in the United States and European Union, The Defiant reported.
The exchange listed more than 40 tokenized US stocks and ETFs, including tokens such as XNVDA, XAAPL, and XTSLA, which are tradable against the USDT stablecoin.
OKX said its platform routes multiple issuers versions of the same stock into a single order book, pitching the approach as a unified asset backed by multiple issuers over time, starting with @xStocksFi, with xStocks from Backed Assets currently providing the underlying support.
OKX described each token as being backed 1:1 by shares held in custody on an issuer's behalf, with dividends reflected as an increase in a user's balance, and it said weekend pricing is based on the latest market close plus fair value estimates, while its disclaimer notes the tokens provide price exposure only and do not confer ownership or shareholder rights.