Planet Labs xStock

Planet Labs xStock (PLx) is a tokenised tracker certificate issued on Ethereum (ERC-20) and Solana (SPL) that mirrors the price of Planet Labs PBC. Issued by Backed Assets (JE) Limited, the token provides eligible investors with regulatory-compliant access to the underlying equity through a blockchain-based structure.

PLx enables onchain exposure to Planet Labs PBC, a company operating a large fleet of Earth observation satellites. The token allows holders to gain exposure to the company's publicly traded shares, benefiting from its business model built around satellite imagery, analytics, and recurring revenue. The tokenised format facilitates blockchain-based settlement, custody, and transfer.

PLx is issued by Backed Assets (JE) Limited and tokenised by Backed Finance AG. Supporting service providers include Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG, and Security Agent Services AG, covering brokerage, custody, and asset safeguarding roles.