xStocks is the product. Backed is the issuer, operating as Backed Assets (JE) Limited out of Jersey. As of 12 Sep 2026 the registry holds 1,852 of its listings across 618 stocks: 618 on Ethereum, 618 on Solana and 616 on BNB Chain.
We are not connected to Backed. This reports what Backed publishes and what its mints show on chain.
The structure
Backed's product and legal overview, read on 13 Sep 2026, says: "Each xStock is a bearer debt instrument classified as a tracker certificate." It also says an xStock "does not confer shareholder voting rights".
One word in that sentence needs an explanation.
Bearer means the holder of the instrument is the party entitled under it. No register of certificate holders has to be updated for a transfer to count. That maps unusually cleanly onto a blockchain token, where possession is the record.
Read Backed's legal overview for what the certificate gives a holder.
The mechanic
Backed uses a rebasing multiplier: a number scales what each token counts as, so a corporate action avoids minting into every wallet. Where that number lives differs by chain. On Solana it is the Token-2022 Scaled UI Amount extension, read off the mint account. On the EVM chains it is a view on the token contract itself. Both report the same kind of figure the ERC-8056 extension reports, which is why this site renders them the same way.
On the question of where dividends go, Backed sits with Robinhood, Ondo and Coinbase. Nothing is paid out, and a number moves.
Three shared chains, and what that means
Each of Backed's three chains also carries tokens from Ondo Global Markets. As of 12 Sep 2026 the registry holds, on Solana, 618 Backed listings beside 450 of Ondo's, on Ethereum 618 beside 450, and on BNB Chain 616 beside 450. That is a clean illustration of why we count stocks and listings separately. Two issuers listing the same stock is two products and one page, per rule 7.
Solana is the only non-EVM chain we track. Backed's mints there are Token-2022 accounts, not contracts behind a proxy. This site records no beacon for Backed on any chain, so on all three chains a token is checked by matching its address against Backed's own published list. The address is on the stock page.
Who can hold them
Backed decides who may hold xStocks, and publishes its rule in its product and legal overview.
This site links to that rule rather than copying it, so you read Backed's current wording rather than a copy of it. Read the legal overview in full.
Where to look
The issuer page is at /issuers/backed-xstocks, with every stock Backed issues and a link to Backed's rule on who may buy. Each stock page carries the addresses. /chains/solana shows everything else on that chain. The glossary defines tracker certificate, custodian and UI multiplier.
Every description of Backed's product above is Backed's own, linked at the top. The counts come from this site's registry.