Circle xStock

Circle xStock (CRCLX) is a tokenized representation of a US stock or ETF, issued under the BackedFi xStocks framework and designed to give non-US users access to US equity markets through blockchain infrastructure. Each token is backed one-to-one by the underlying asset and carries a legal claim to that asset's value. The project frames its purpose as removing the geographic, brokerage, and cost barriers that have historically kept large parts of the global population from participating in US equity markets.

CRCLX tokens exist across multiple blockchain ecosystems — Ethereum, BNB Chain, Solana, and Arbitrum — meaning they can be transferred and used within the decentralized finance protocols native to each of those networks. The backing is maintained through compliance with EU regulations, and the token is designed to be composable with DeFi protocols in the same way any standard token would be. No consensus algorithm is recorded for this asset, which is expected for a tokenized real-world asset that inherits settlement from the blockchains it runs on rather than operating its own network.

The data stored for CRCLX does not include a fee stream, revenue figures, or protocol earnings, so no fee-based measures can be reported here. The token's economics are primarily linked to the value of its underlying stock or ETF, held at a one-to-one ratio. What the protocol charges for issuance, redemption, or custody is not captured in this data set, and the absence of that information means any fee-based valuation metrics common on this site are not applicable to this asset.