xStocks, the tokenized equity platform owned by Payward (Kraken's parent company), announced a native deployment on Monad at the Open conference in Singapore on October 6, 2026. The launch brings more than 1,100 tokenized US stocks and ETFs to the high-throughput EVM blockchain.
Val Gui of xStocks made the announcement on stage, describing the move as "just the beginning" and noting that possibilities on Monad are "open as the chain builds infrastructure for the next generation of finance."
Native Issuance vs. Bridge Integration
The deployment represents native issuance rather than a simple bridge integration. This means xStocks tokens will be minted and settled directly on Monad, allowing decentralized exchanges, lending markets, and wallets on the chain to offer equity exposure without relying solely on cross-chain bridges.
xStocks issues 1:1-backed tokenized US equities and ETFs that are transferable and DeFi-composable. The tokens are available across 110+ countries, tradable 24/7, and accessible fractionally from $1. The platform has surpassed $25 billion in transaction volume and already lists over 1,100 stocks and ETFs.
Monad's Infrastructure and Growth
Monad's mainnet launched in late November 2025 and has attracted significant backing, including a Paradigm-backed $225 million raise and early support from Coinbase. The chain's total value locked has crossed $400 million, supported by deep stablecoin liquidity—a foundation xStocks requires for smooth equity operations.
Monad already appeared among supported chains on the xStocks site alongside Ethereum, Solana, BNB Chain, Mantle, and Arbitrum before the formal announcement.
TradFi Integration and Institutional Support
The xStocks deployment aligns with growing institutional involvement in tokenized equities. Nasdaq holds a $100 million stake in Payward, valuing the company at $21 billion. Payward and Ledger have partnered to enable hardware custody for tokenized stocks, allowing users to hold xStocks in cold storage.
Kraken offers unified stock and xStocks trading across the European Economic Area, providing access to over 7,000 US stocks and 700+ xStocks in a single regulated account.
Considerations and Constraints
Tokenized equities do not confer voting rights on holders. Mint and redeem operations pause when underlying markets close, creating potential weekend price gaps. Eligibility for xStocks remains geo-restricted.
Aave governance is already discussing an Aave V4 deployment on Monad centered around a tokenized-equities hub featuring SPYx, QQQx, NVDAx, TSLAx, and stablecoin liquidity. That proposal identified limited liquidity and weekend redemption pauses as risk factors—issues a native xStocks deployment on Monad could help address.
