xStocks Hits $25B Volume as Tokenized Equities Go Mainstream

xStocks has crossed $25 billion in total transaction volume across centralized and decentralized platforms in under eight months. The milestone cements the protocol’s position as the largest framework for tokenized equities worldwide.

xStocks crossed $25B in Total Volume.

Another major milestone for the infrastructure layer powering tokenized equities.

Tokenization accelerates, usage rises and activity increases. xStocks is the standard. pic.twitter.com/kelHyJO9SW

— xStocks (@xStocksFi) February 19, 2026

The figure includes more than $3.5 billion in onchain activity from over 80,000 unique holders. Nearly $225 million in aggregate assets under management now sits within the xStocks ecosystem.

Major crypto exchanges have already integrated the framework. Bybit, Gate.io, and other leading platforms now offer xStocks to retail investors, professional traders, and institutional clients globally.

Onchain data reinforces the protocol’s market dominance. xStocks holds eight of the top eleven positions for tokenized equities by unique holders. The framework accounts for 68% of the top 25 tokenized stocks by holder count as of February 17, 2026.

xStock Alliance Model Drives Cross-Chain Expansion

The xStocks Alliance is building open infrastructure across multiple blockchains. The framework currently operates on Solana, Ethereum, and TON, with additional network integrations planned.

New assets launch monthly on the platform. Builders continue integrating the framework while new partners join the Alliance at a steady pace.

Val Gui, General Manager for xStocks, addressed the rapid growth trajectory.

xStocks have fused crypto and traditional markets, turning tokenized equities from an idea into global infrastructure. Eclipsing the $25 billion milestone so quickly demonstrates that investors around the world are ready for markets that are open, permissionless, and built for the internet age.

Gui said

The Alliance approach prioritizes interoperability over closed ecosystems. Assets move between individuals, platforms, and onchain environments without friction. Open standards create deeper liquidity pools and stronger network effects than siloed products.

Each xStock maintains one-to-one backing by its underlying stock or ETF. A licensed custodian holds all assets in a bankruptcy-remote structure designed for investor protection.

The collateralization model bridges traditional U.S. capital markets with blockchain infrastructure. Full transparency on reserves supports long-term holder confidence.

Adoption now spans centralized exchanges, DeFi protocols, self-custody wallets, and consumer applications. The multi-venue integration creates baseline expectations around always-on markets and permissionless access.

Meanwhile, Kraken achieved a separate institutional milestone this week. The exchange connected to ICE Chat, the messaging system operated by Intercontinental Exchange.

Kraken Joins ICE Chat Network

Kraken has become the first cryptocurrency platform to link with ICE Chat. The integration provides direct access to over 120,000 institutional clients across major financial centers.

🚨BREAKING: KRAKEN CONNECTS TO ICE CHAT FOR INSTITUTIONAL CRYPTO TRADING@krakenfx has integrated its OTC desk with ICE Chat, embedding crypto liquidity directly into one of traditional finance’s largest institutional messaging networks.

The move enables more than 120,000 ICE… pic.twitter.com/KbUReETbPS

— BSCN (@BSCNews) February 17, 2026

Institutional traders can now engage with Kraken’s over-the-counter desk through the same interface used in traditional markets. The platform includes AI-powered Smart Text Recognition that converts messages into actionable trading data.

Gurpreet Oberoi, Head of Kraken Institutional, commented on the strategic value of the connection.

“By meeting clients where they already operate, we reduce operational friction and onboarding overhead while expanding access to Kraken’s institutional liquidity,” Oberoi said.

The ICE Chat link opens direct channels into core institutional workflows. Traders gain access to crypto spot and options market liquidity without leaving their primary communication tool.

Both developments signal accelerating convergence between cryptocurrency infrastructure and traditional financial systems. Tokenized equities and institutional connectivity continue advancing toward mainstream adoption