Understand tokenization.

Corporate actions are reflected through rebasing: a multiplier applied to token balances, keeping 1:1 exposure to the underlying equity with no holder action required. Dividends are reinvested into additional units of the same asset, net of applicable taxes. Implementation differs by chain: automatic on EVM chains; on Solana, adjusted balances display via Scaled UI while the raw balance stays constant.

Yes, 24/7 on secondary markets, depending on the platform. Issuance and redemption through the issuer run 24/5, aligned with underlying market hours.

Secondary market pricing follows supply and demand on each platform. Direct clients issue or redeem at prevailing market prices through the issuer's platform. The issuer does not control secondary market pricing.

No issuer-imposed minimum on secondary markets, subject to platform rules. Direct issuance or redemption with the issuer has a $5,000 minimum.

Yes, subject to KYC and the $5,000 minimum. Most users access liquidity through secondary markets in practice.

No. xStocks are not marketed, offered, or solicited in the United States or in jurisdictions where such activity is prohibited.

Yes. Collateral backing is publicly verifiable through the xStocks DeFi Dashboard.

Issued natively on Ethereum, Solana, TON, Ink, and other EVM-compatible networks. The xStocks CCIP bridge allows movement between supported networks without selling and buying the asset.

Collateral sits in segregated accounts under a three-party structure: issuer, custodians, and an independent security agent. On default, the security agent can assume control of the collateral accounts and distribute proceeds to token holders per the prospectus terms. Full legal documentation is at assets.backed.fi/legal-documentation

xChange is xStocks' atomic RFQ mechanism for issuance and redemption. You request a quote for a ticker and size; the quote endpoint returns a real-time price with spread already applied, valid for an execution window of about 60 seconds. Settlement is atomic: the token and stablecoin legs transfer in a single transaction, so either both settle or neither does. There is no partial fill and no slippage against the quoted price once authorized. Full documentation: xChange docs.

The quote endpoint is designed to be used as a price reference. Pricing is derived from real-time market data on the underlying equity during its trading session. At execution, the underlying is bought as collateral on its public market and the corresponding tokens are minted for delivery, so available liquidity reflects what the underlying market itself offers. For deeper visibility, consume market data directly from the relevant underlying market.

No. The quoted price is the execution price. The spread reflects the cost of holding that price for the execution window and is the only cost on this leg.

Spread is tightest during regular market hours, when the underlying has full liquidity, and widens in pre-market, after-hours, or other reduced-liquidity conditions. Atomic settlement protects against partial fills or slippage once a quote is authorized, regardless of spread conditions.

Availability depends on the platform you use and where your users are located. xStocks are not available in the U.S. or to U.S. persons. IPO xStocks are also not available in the United Kingdom, Canada, or Australia. Geographic restrictions apply. See Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks and the Base Prospectus and Final Terms at assets.backed.fi/legal-documentation

Your users are not receiving an equity allocation. Outside the U.S., IPO access is provided through IPO xStocks — tokenized securities that provide price exposure to the IPO price only and do not include shareholder rights.

Allocation is not determined by xStocks or Kraken and may be full, partial, or none. Allocation is not guaranteed, and any funds not allocated will be returned. Do not quote odds, probabilities, or the likelihood of receiving an allocation, and do not describe the product as providing IPO shares.