Solana trading glossary
What are xStocks on Solana?
Also called: Tokenized stocks, Tokenised equities, AAPLx, TSLAx
Tokens issued by Backed (acquired by Kraken) that track US stocks and ETFs, such as AAPLx or SPYx, and trade on Solana around the clock.
xStocks launched in mid-2025 and are issued by Backed, which Kraken has agreed to acquire. Each token is designed to track one share of a listed company or ETF, held by a custodian, and trades on exchanges and on Solana DEXs through pools and aggregators. Tickers carry an x suffix: AAPLx, TSLAx, NVDAx.
They are built on Token-2022. The issuer keeps mint authority to create tokens when shares are deposited and burn them on redemption, and a permanent delegate that lets it move or burn tokens for compliance.
Why it matters before you trade
The checks that flag a memecoin as dangerous flag xStocks too, for different reasons. The risk here is not a rug but the issuer, the custodian and the terms: who can hold them, what happens in a corporate action, and how closely the token tracks the share. Read the issuer's terms before buying.
How NAVI shows it
NAVI recognises xStocks by their exact mint addresses, not by name, since names can be copied. On their token pages the mint and freeze checks show Active (issuer) with an explanation that it is an issuer and custody risk, not a rug signal. The bubble maps page leaves tokenised stocks out of its concentration lists because their largest holders are custodians.
Related terms
- Token-2022 extensionsOptional features of Solana's newer token program. Some, such as transfer fees and a permanent delegate, give the issuer ongoing control over holders' tokens.
- Mint authorityThe account allowed to create new units of a token. If it is still set, someone can increase the supply at any time; if it is revoked, the supply is fixed.
- Copycat tokenA token that reuses the name, ticker or logo of a better-known token so buyers mistake it for the real one.
Last reviewed 2026-09-25. NAVI is informational only and nothing here is financial advice.