What is Xstocks? How to buy TSLAX through the Gate xStocks section?

"Investing in US stocks" is no longer a high-threshold game. In July 2025, Gate exchange officially launched the xStocks US stock trading zone, allowing users to directly purchase tokenized US stocks through USDT, enabling 24/7 trading and fractional share investment.

xStocks, issued by the Swiss compliant platform Backed Finance, transforms popular US stocks like Apple and Tesla into on-chain Tokens through a 1:1 asset collateralization form, allowing crypto users to hold exposure to US stocks without the need for a traditional brokerage account.

##What is xStocks?

xStocks is an innovative financial product launched by the Swiss compliant asset tokenization platform Backed Finance, which essentially transforms traditional publicly listed company stocks into tradable tokens on the blockchain.

Its core mechanism lies in: Backed Finance purchases real stocks (such as Tesla) in the US stock market through Interactive Brokers and deposits them into an isolated account at Clearstream Banking. Subsequently, it mints the corresponding number of tokens (for example, 1000 shares of Tesla correspond to 1000 TSLAx tokens) on the Solana blockchain.

Each xStocks Token is fully backed by physical stocks on a 1:1 basis, with assets custodied by regulated third-party institutions such as InCore Bank in Switzerland, and possesses an EU-approved ISIN number.

Compared to directly holding stocks, xStocks do not include shareholder voting rights and do not directly distribute cash dividends (dividends are distributed in the form of token airdrops), primarily providing capital gains from market fluctuations.

Three Core Features of xStocks

24/7 trading, breaking the limitations of time and space

Traditional US stock trading is limited to the trading hours of the New York Stock Exchange from 9:30 AM to 4:00 PM (Eastern Time). In contrast, xStocks enables 24/7 uninterrupted trading, with a settlement speed achieving sub-second confirmation on the Solana chain.

Fragmented investment lowers the threshold

Traditional brokers require whole share purchases, while xStocks supports a fractional coin mechanism starting from $10.

Users do not need to invest tens of thousands of dollars to buy 1 share of Tesla (TSLA); they can hold TSLAx tokens for any amount, making it possible for small funds to participate in the US stock market.

on-chain free circulation and DeFi integration

xStocks Token is issued under the SPL standard on the Solana public chain, can be freely stored in self-custody wallets, and supports cross-platform transfers.

Users can integrate TSLAx Token into DeFi protocols like Kamino Finance and Raydium, forming liquidity pools or using it as collateral to borrow USDC, achieving asset interoperability that traditional stocks cannot reach.

TSLAx: The On-Chain Avatar of Tesla Stock

In the xStocks system, TSLAx is the tokenized representation of Tesla Inc. stock, with each TSLAx token corresponding to the value performance of 1 share of Tesla common stock.

Its price is pegged to the real-time market of Tesla stocks on the NASDAQ exchange, but as an on-chain asset, it has three main characteristics:

• No shareholder rights: Holders do not have voting rights at Tesla's shareholder meetings.
• Dividend Handling: If Tesla distributes dividends, Backed will sell the value corresponding to the dividends and airdrop it to token holders in USDC.
• Trading Flexibility: Supports leveraged contracts, short selling, and fragmented trading

Currently, TSLAx has been listed on mainstream exchanges such as Gate, Bybit, and Kraken, and can be traded through decentralized aggregators like Jupiter.

##Practical Guide to Buy TSLAx on Gate

Gate is the world's first platform to simultaneously open spot and perpetual contract trading for xStocks, and provides a dedicated Alpha high-frequency trading channel. Here are the specific steps to purchase TSLAx:

account preparation

Register a Gate account (official website link), and deposit USDT into your Gate spot account. You can obtain it by purchasing with a bank card, transferring from other exchanges, or exchanging on the Gate P2P market.

positioning the trading market

After logging in, go to the 【Trading】 page and select the xStocks section in the top navigation bar. Enter "TSLA" or "TSLAx" in the search box, and the system will display the trading pairs: TSLAx/USDT (spot) or TSLAx perpetual contract.

Professional traders can switch to the Gate Alpha section for a lower slippage TSLAx trading environment.

execute buy operation

On the right side of the order area in the trading interface:

• Select "Limit Order" or "Market Order"
• Enter the purchase quantity (e.g., 0.5 TSLAx approximately represents half a share of Tesla)
• Set price (limit orders must specify, market orders成交 at the best price)
• Click "Buy TSLAx" After the transaction, the Token will be deposited into the spot wallet.

On-chain transfer and management (optional) ###

To withdraw TSLAx to an external wallet:

• Go to [Assets] - [Spot] - [Withdraw]
• Select the SOL network (TSLAx issued based on Solana)
• Enter the self-custody wallet address (e.g., Phantom)
• Complete the transfer after paying the miner fee.

Advantages and Risk Warnings of xStocks

Core Advantages

Borderless investment: No need for overseas bank accounts or complex KYC, global users (excluding the United States) can participate.

Cost efficiency: Eliminating the exchange fees and high commissions of traditional cross-border securities trading.

Diversified strategies: At Gate, you can perform long and short operations with 1 - 10 times leverage, breaking through the limitations of traditional stock trading.

Risk Warning

Liquidity risk: Apart from popular tokens like NVDAx and TSLAx, most xStocks have insufficient trading depth, which may result in high slippage or inability to execute trades instantly.

Regulatory uncertainty: Products are not registered with securities regulatory agencies, and changes in national policies may affect service availability.

Platform and counterparty risk: Asset security relies on the cooperation of Gate and Backed's custodial institutions, and one must be wary of technical failures or credit defaults.

Price deviation risk: During the US stock market closure, xStocks prices are frozen at the closing price, which may deviate from the actual stock price.

##Future Outlook

As of July 2025, the top three tokens by trading volume in the xStocks section are TSLAx, SPYx, and CRCLx, reflecting a strong market demand for tech leaders like Tesla.

Gate is hosting the "xStocks Zone Trading Competition", where users can receive up to 100 USDT rewards for completing the specified trading volume. For investors, xStocks is not just a trading tool, but also an entry point for the integration of traditional finance and the crypto world.