Gate xStocks sets a new record with $3.8 billion in trading volume: A new era of tokenized stock trading

When the traditional stock market closes, a European investor used USDT on the Gate platform to purchase the AAPLX token representing Apple Inc. stock. At this time, Wall Street traders are asleep, but the on-chain price discovery mechanism continues.

Gate’s xStocks stock section has surpassed a total trading volume of $3.8 billion, with decentralized exchanges contributing $170 million. Behind this figure is the accelerating integration of traditional finance and the crypto world.

01 Trading Milestone

Since its launch in 2025, the xStocks platform has achieved remarkable growth. According to the latest data, the platform’s total trading volume has reached $3.8 billion.

Of this $3.8 billion, approximately $170 million comes from decentralized exchanges. This data indicates that tokenized stocks are gaining recognition not only on centralized platforms but are also beginning to establish liquidity within the decentralized finance ecosystem.

The platform’s rapid growth has also driven the development of Gate’s native token GT ecosystem. Users can obtain trading fee discounts by holding and using GT, further enhancing GT’s utility and demand.

02 Platform Features

Gate xStocks stock section was officially launched on July 3, 2025, creating the world’s first trading platform supporting a crypto stock contract market.

Unlike traditional stock trading, Gate’s xStocks stock section supports 24/7 trading without KYC restrictions, significantly lowering the investment threshold for users worldwide.

The platform adopts a compliant physical asset tokenization model. All listed tokens correspond to publicly traded stocks, backed by full asset collateral, supporting free transfer and on-chain trading, and enabling seamless integration across multiple blockchains and ecosystems.

xStocks stock section supports both spot and contract markets, with the first batch including:

Meanwhile, Gate Alpha has also simultaneously opened xStocks trading features, with the first batch of listed assets including MSTRx, CRCLx, SPYx, NVDAx, TSLAx, AAPLx, further enriching user options.

03 Positioning in the RWA Wave

The tokenized real-world assets (RWA) market is experiencing explosive growth. Besides stablecoins, the supply of this market has exceeded $36 billion, growing 1.6 times compared to 2024, and 1,000 times compared to 2019.

In this wave, tokenized stocks are the fastest-growing RWA category. Its supply surged from $5.93 million in October 2024 to $629 million in November 2025, a 106-fold increase.

Gate’s xStocks platform holds a favorable position in this rapidly expanding market. Although the entire RWA market is developing swiftly, its scale remains tiny compared to traditional finance—by the end of 2024, only 0.0026% of tokenizable assets were represented on-chain.

This indicates that the tokenized asset field is still in its early stages, with enormous growth potential. McKinsey predicts that by 2030, the total tokenized value will reach $1.9 trillion, more than 60 times the current level.

04 Technical Assurance and Compliance Framework

The xStocks platform is built on a solid compliance framework. All tokenized stocks are supported by real stocks 1:1, backed by full asset collateral. This model ensures that token holders enjoy the same economic rights as direct stock ownership.

The platform employs a multi-chain compatible architecture, supporting token transfers and trading across multiple blockchain networks, achieving seamless integration across blockchains and ecosystems.

Gate collaborates with compliant entities like Backed Finance to ensure that the tokenization process complies with relevant regulations. These partners manage the underlying stock assets, provide audit reports, and ensure legal protection of token holders’ rights.

In terms of trading mechanisms, the xStocks platform offers flexible leverage options, allowing users to trade perpetual contracts with leverage from 1x to 10x, as well as spot trading. This design caters to conservative investors while providing tools for high-risk traders.

05 Future Development

As more financial institutions enter this field, the xStocks platform is expected to expand the range of tradable assets. In addition to stocks, future offerings may include more global stock markets, ETFs, and other traditional financial assets.

Cross-chain functionality will be further expanded, enabling tokenized stocks to circulate and be used across more blockchain ecosystems, increasing liquidity and accessibility.

Deeper integration with traditional financial infrastructure is also planned. Gate is exploring connections with more compliant partners, allowing tokenized stocks to interact seamlessly with traditional brokerages, custodial banks, and other institutions.

Gradually clarifying regulatory frameworks will bring more certainty and growth momentum to the tokenized asset market. Regulatory bodies like the U.S. Securities and Exchange Commission and EU financial regulators are working to incorporate tokenization into existing regulatory systems, potentially opening the door for large-scale institutional capital inflows.

Future Outlook

When the traditional stock market is silent due to weekends or holidays, tokens ending with “X” on the Gate platform continue to pulse. Tech giants like Apple, Tesla, and Nvidia, now in the form of blockchain tokens, have gained a second life in the crypto world.

Blockchain technology is becoming the new global unified ledger, and tokenized currencies are bridging the efficiency and cost of global value transfer. In this new financial landscape built on code and consensus, trading never stops, and asset boundaries are gradually blurring.