xbridge

Backed and Chainlink launch xBridge for cross-chain tokenized stocks

#BackedFinance and #Chainlink have introduced #xBridge , a cross-chain bridge that enables tokenized stocks to move between Ethereum and Solana while preserving corporate actions such as stock splits and dividends. The system uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to maintain consistency with the underlying assets.

xBridge is currently live in pilot mode, with plans to expand support to additional blockchains including #Mantle and #TRON .

#xBridge The tokenization sector has seen a significant acceleration since the beginning of the year, to the point of having its valuation multiplied by more than 3 during this period. However, there is still a long way to go in order to implement this innovative solution in the traditional stock market.

Indeed, tokenized stocks - both private and publicly traded combined - represent just 1 million dollars, out of the 18.6 billion dollars valuation of this sector. There is room for growth within which the Backed Finance protocol aims to establish itself, with the launch of its xBridge capable of moving them between the Ethereum and Solana (SOL) blockchains.

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