What is xStocks? How to buy TSLAX on Gate?

On June 30, 2025, xStocks officially launched on the Solana Blockchain, with its volume surpassing $2.1 billion in just six weeks. This financial innovation initiated by the Swiss Compliance platform Backed Finance is seamlessly bringing traditional stock markets into the encryption world through 1:1 fully collateralized real stock assets.

As of August 2025, investors will be able to trade over 60 tokenized stocks and ETFs on-chain, including well-known companies like Apple, Tesla, and Circle.

xStocks Revolution: When Traditional Stocks Meet Blockchain

Many investors around the world often face cumbersome processes, high costs, and limited trading hours when purchasing US stocks. Traditional equity markets require operations through intermediaries within specific time frames, along with complex paperwork and settlement periods lasting several days.

The emergence of xStocks is precisely to address these pain points. It is a tokenized stock solution launched by the Swiss compliance platform Backed Finance, which converts real listed company stocks into digital assets that can be freely traded on-chain through 1:1 full collateralization.

Each token is backed 1:1 by real stocks held by a regulated custodian, with the underlying stocks being held by Swiss licensed banks (such as InCore Bank) and regularly undergoing on-chain audits. The trading codes for xStocks end with "x", such as NVDAx (NVIDIA) and AMZNx (Amazon), making it easy for users to identify.

Core Advantages: Why Choose xStocks?

xStocks has multiple advantages over traditional stock markets, with 24/7 trading breaking the time constraints of the traditional stock market from 9:30 AM to 4:00 PM EST, allowing users to respond to significant market movements at any time.

It supports fragmented investment, with a fractional share mechanism starting from a minimum of 10 dollars, significantly lowering the investment threshold for blue-chip stocks. These tokens, issued based on both ERC-20 and Solana SPL dual standards, can be transferred to wallets or DeFi protocols for participation in staking, lending, and other scenarios.

Real-time on-chain settlement replaces the traditional T+2 settlement cycle, greatly enhancing capital efficiency. Global users can invest in tokenized US stocks without needing a US stock brokerage account, no longer restricted by geographical limitations.

##TSLA Stock Price Performance and Market Dynamics

As of August 20, 2025, Tesla (TSLA) closed at 323.9 USD in the traditional stock market, down 1.64% on the day, with a trading volume of 24.812 billion USD, ranking 3rd among US stocks for that day.

Looking at a longer time frame, Tesla's stock has fallen 4.56% over the past 5 trading days, risen 5.07% throughout August, declined 19.79% year-to-date, and increased 46.49% over the past 52 weeks.

Tesla recently launched the new six-seat Model Y L in the Chinese market, aiming to solidify its position in the increasingly competitive family electric vehicle segment. This new model is priced at 339,000 yuan (approximately 47,180 USD) and is scheduled for delivery starting in September.

Practical Guide: How to Purchase TSLAX in the Gate xStocks Section

Gate launched the world's first tokenized stock spot and contract dual market on July 3, 2025, becoming one of the preferred platforms for operating xStocks.

1. Preliminary preparation: First, you need to visit Gate.com (non-restricted areas) to complete account registration, and then deposit USDT into your Gate 【Spot Account】 (multi-chain deposits supported) as the base currency for purchasing.
2. Purchase process: After logging in, click on the top 【Trade】 → Select 【xStocks Spot Zone】 or 【Alpha Spot Zone】. In the search box, enter TSLAX/USDT, or visit the TSLAX page in the xStocks zone directly.
3. Place an order to buy: You can choose a market order (immediate execution at the best price) or a limit order (set an ideal purchase price to wait for execution), enter the purchase quantity (minimum 10 dollars, fractional shares supported). After the transaction is completed, check the TSLAX balance and floating profit and loss on the [Assets] page.

Advanced Features and Strategy Applications

In addition to spot trading, Gate's xStocks section also offers contract trading functionality, allowing users to use up to 10x leverage to go long/short on TSLAX and other tokenized stocks in the xStocks contract market.

For more advanced users, the xStocks token can be transferred to a supported wallet to participate in DeFi applications such as lending, liquidity mining, etc. For example, users can use AAPLx as collateral to borrow stablecoins on Kamino while investing the remaining portion into Raydium's liquidity pool to earn fees.

These features allow users to implement various trading strategies, such as being able to immediately open a short position on xStocks to hedge risks when there is an unexpected negative event in the US stock market after hours, even when traditional markets are closed.

##Risks and Challenges: Necessary Awareness Before Investment

Despite the unprecedented convenience offered by xStocks, investors must remain acutely aware of the challenges involved. Regulatory uncertainty is the primary consideration—the SEC has not yet recognized the legality of tokenized stocks, and the policies in Switzerland and Singapore are still evolving.

Differences in rights also need to be noted: holding tokenized stocks such as CRCLX does not confer voting rights in the corresponding company; dividends are indirectly reflected through token value adjustments rather than being distributed directly.

Technical and liquidity risks are equally present: extreme market conditions may lead to a short-term price difference of 2%-5%, and some tokens have insufficient on-chain liquidity (data from August 2025 shows that 60% of xStocks' daily trading volume is concentrated in the top 6 underlying assets).

##Future Outlook

As of August 20, 2025, Tesla (TSLA) traditional stock price closed at $323.9, down 1.64% from the previous day. Its tokenized version TSLAx is pegged to the trading price on platforms like Gate.

The xStocks Alliance—comprising institutions such as Backed, Gate, and Solana—is driving this transformation. In the future, as more traditional assets go on-chain, the seamless experience of "one wallet, investing globally" will become the standard configuration for the next generation of investors.