What is MicroStrategy tokenized stock (xStock) (MSTRX)?

Deep Dive

1. Purpose & Value Proposition

MSTRX provides crypto investors indirect access to MicroStrategy’s stock performance while bypassing traditional financial gatekeepers. Issued by Backed Finance (Backed), each token represents a share of MicroStrategy stock held by regulated custodians. This bridges TradFi and DeFi, allowing users to trade equities 24/7 via platforms like Bitrue and Gate, settle transactions on-chain, and integrate tokenized stocks into lending/borrowing protocols.

2. Technology & Architecture

MSTRX operates as dual-chain tokens (ERC-20 and Solana SPL), ensuring compatibility with major DeFi ecosystems. The tokens are fully collateralized by MicroStrategy shares held offline, with blockchain transparency enabling real-time audits. Trades settle instantly using USDT, avoiding fiat conversions or brokerage delays.

3. Key Differentiators

Unlike traditional stock ownership, MSTRX excludes dividends, voting rights, or legal equity claims, focusing solely on price exposure. However, it offers unique advantages:
- Global access: Available to users outside restricted regions (e.g., US/EU).
- Fractional trading: Permits micro-investments in high-value stocks.
- DeFi interoperability: Tokens can collateralize loans or earn yield in liquidity pools.

Conclusion

MSTRX reimagines equity access by merging blockchain efficiency with traditional asset backing, prioritizing flexibility over ownership benefits. As regulatory frameworks evolve, will tokenized stocks like MSTRX become a standard gateway for hybrid TradFi-DeFi portfolios?