Chainlink Launches xBridge for Tokenized Stocks

Backed and Chainlink Launch xBridge for Cross-Chain Tokenized Stocks

• Backed and Chainlink have introduced xBridge, facilitating cross-chain transfers of tokenized stocks between Ethereum and Solana.
• xBridge maintains corporate actions like dividends and stock splits, enhancing the interoperability of tokenized equities.
• The bridge is in a pilot phase, with a full rollout planned soon, and future expansion to additional blockchains is anticipated.
• The integration allows xStocks to move across multiple chains with high security, reliability, and compliance.
• A custom rebasing architecture on Ethereum tracks shares internally, ensuring accurate reflection of traditional stock behavior.

The launch of xBridge by Backed and Chainlink marks a significant step in enabling cross-chain transfers of tokenized stocks while preserving essential corporate actions. This development enhances the accessibility of tokenized equities across Ethereum and Solana networks.