Backed and Chainlink launch xBridge to move tokenized stocks across Ethereum and Solana
Backed and Chainlink have launched xBridge, the first cross-chain bridge purpose-built for tokenized stocks (xStocks). Built on Chainlink’s Cross-Chain Interoperability Protocol (CCIP), xBridge enables pilot transfers between Ethereum and Solana while preserving corporate actions such as dividends and stock splits. The integration uses Chainlink Price Feeds and Proof of Reserve to keep pricing and collateral verification synchronized across chains and relies on Solana’s Token2022 multiplier-based Shares Model plus a custom rebasing architecture on Ethereum to maintain accurate share accounting. Backed says the xStocks are fully collateralized and MiFID II–compliant; the bridge aims to reduce liquidity fragmentation and improve TradFi-to-DeFi interoperability by expanding where tokenized equities can trade. The pilot is live with a planned wider rollout and additional chain support in the coming weeks. For traders, this may increase on-chain liquidity and the number of venues for tokenized stocks while raising reliance on Chainlink’s oracle infrastructure (LINK).
Bullish
The news is likely bullish for LINK because xBridge increases real-world usage of Chainlink’s services (CCIP, Price Feeds, Proof of Reserve) and ties Chainlink deeper into tokenized-equity infrastructure. Greater protocol adoption and recurring oracle calls for price feeds and reserves typically drive demand for oracle services and strengthen network effects, which traders view positively for the token’s utility and outlook. Short-term, LINK may see positive price reaction on the announcement due to increased visibility and perceived future fee demand. Medium-to-long term, actual bullishness depends on adoption scale — a broader rollout and more chains or high-volume tokenized-stock listings would sustain higher oracle usage and be constructive; a stalled pilot or low on-chain trading would mute impact. The effect on other tokens (ETH, SOL) is neutral to mildly positive due to increased activity on their chains but the primary direct price impact is on LINK.