Tokenized versions of Tesla, Nvidia, Apple, and other major stocks are now available for trading on the Tron network thanks to a collaboration between the Tron DAO, Kraken, and Backed—the firm behind xStocks, which offers global investors access to tokenized equities.

The feature’s expansion comes shortly after xStocks eclipsed more than $500 million in on-chain trading volume to date, according to data from its official Dune dashboard .

"Expanding xStocks to Tron, a network that settles over $20 billion daily, will significantly boost brand visibility and adoption," Kraken Global Head of Consumer Mark Greenberg told Decrypt . "More importantly, it brings us closer to a fully permissionless, borderless, and interoperable market where anyone can trade tokenized equities around the clock."

Backed’s xStocks feature allows users to gain exposure to American equities via on-chain tokens that are 1:1 backed with actual shares in each respective company. Previously available to users on Solana and BNB Chain , and offered via centralized exchanges like Kraken, these tokens will now be available via TRC-20 tokens on Tron.

“This collaboration highlights how Tron’s decentralized network can bring tokenized equities into a more open, transparent, and accessible environment,” said Tron founder Justin Sun, in a statement.

“Tokenized equities represent a natural evolution for crypto, bridging traditional markets with blockchain,” he added. “As demand for popular equities meets a global base of previously excluded users, we’ll see a more efficient, flexible, and accessible market.”

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To date, the network is arguably best known for its substantial stablecoin usage, which has grown by about $23 billion in the last year according to data from DefiLlama . The network holds $82.8 billion in stablecoins—primarily Tether’s USDT —trailing only Ethereum, which maintains $143 billion in stablecoins at the time of writing.

xStocks have generated more than $2.9 billion in volume between centralized exchanges and their decentralized counterparts, though the split falls heavily in favor of centralized exchanges which have accounted for more than 95% of the volume according to the official xStocks Dune dashboard. Over $500 million of that trading has taken place on-chain, per the dashboard.

The tokenized equities currently account for around $46.4 million in assets under management, more than 20% of which can be attributed to tokenized shares in Elon Musk’s Tesla (TSLA).