Question 1

What are xStocks and what are they used for?

Accepted Answer

xStocks are digital tokens that represent fractional ownership of specific U.S.-listed stocks or exchange-traded funds (ETFs). Each token corresponds 1:1 to an underlying asset, which is held in custody by Backed Finance. Issued on the Solana blockchain, xStocks allow for transfer and trading of these representations on-chain. They are used for purposes such as trading on supported exchanges, portfolio diversification, and participation in certain decentralised finance (DeFi) applications.

Question 2

What is AppLovin xStock (APPx)?

Accepted Answer

AppLovin xStock (APPx) is a tokenised tracker certificate designed to reflect the price of AppLovin Corporation stock (NASDAQ: APP). It is issued on the Solana blockchain. The product enables eligible participants to gain on-chain exposure to AppLovin through a regulatory-compliant structure.

The underlying asset is issued by AppLovin Corporation, a mobile technology company that provides tools for app discovery, monetisation, marketing, and growth. Its solutions span in-app, mobile, connected TV, and multi-channel environments.

Question 3

Token Details

Accepted Answer

- **Issuer**: Backed Assets (JE) Limited  
- **ISIN**: CH1436219641  
- **Network / Chain**: Solana (SOL)  
- **Smart Contracts**: Solana

Question 4

Underlying Asset Information

Accepted Answer

- **Issuer**: AppLovin Corporation, 33 Thomas Street, Palo Alto, CA 94301, USA  
- **LEI**: 549300LLVXMUAOL3SQ07  
- **ISIN**: US03831W1080  
- **Symbol**: APP  
- **Name**: AppLovin Corporation

Question 5

Service Providers

Accepted Answer

- **Tokenizer**: Backed Finance AG  
- **Brokers**: Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG  
- **Custodians**: Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG  
- **Security Agent**: Security Agent Services AG

Question 6

Who created xStocks?

Accepted Answer

xStocks are issued by Backed Finance, a Swiss-based company focused on tokenising traditional financial assets. Access to these tokens is restricted to non-U.S. persons in accordance with applicable regulations.