What is Xstocks? How to buy MSTRX on Gate?

In May 2025, a tokenized stock product called xStocks was launched by the Swiss compliance asset tokenization platform Backed Finance. In just over two months, its daily trading volume surpassed 2 billion dollars, with over 25,500 users holding it.

This innovative financial product is reshaping the way global stock investments are made through blockchain technology, allowing users to invest in star companies like Tesla, Apple, and Coinbase without the need for a traditional brokerage account.

As MSTRX is a token that tracks the stock price of MicroStrategy, it has particularly attracted the attention of crypto investors. This article will detail the operational mechanism of xStocks and provide a step-by-step guide on how to purchase MSTRX using the Gate platform.

##What is xStocks? A New Paradigm for Tokenized Stocks

xStocks is a Compliance physical asset tokenization product, which core is to convert publicly traded stocks worldwide into crypto Tokens that can be traded on the blockchain in a 1:1 collateral form.

Each Token represents real existing company shares and is backed by a corresponding number of physical shares held by a regulated third-party custodian.

Compared to traditional stock investing, xStocks brings four transformative advantages:

• Round-the-clock trading: Break the time restrictions of traditional stock markets from 9:30 AM to 4:00 PM EST, supporting 24/7 trading.
• Global Access: Users in regions such as Africa and Asia can invest in public companies without the need to open a stock account.
• Fragmented investment: No need to purchase whole shares, participate with a minimum of $10, significantly lowering the investment threshold.
• On-chain free circulation: Tokens can be freely transferred to personal wallets to participate in DeFi staking, lending, and other on-chain applications.

As of August 2025, xStocks has a total assets under management of approximately $43.6 million, covering popular company stock Tokens such as Tesla (TSLAx), Apple (AAPLx), and Coinbase (COINx).

What is MSTRX? Why is it favored by crypto investors?

In the xStocks series, MSTRX is a token that tracks the stock price of MicroStrategy and has been included in the Gate xStocks perpetual contract area.

MicroStrategy, as a unique case among publicly traded companies, has long been regarded as a "Bitcoin bellwether." Due to its continuous purchase and holding of a large amount of Bitcoin, its stock price trend is closely related to the price of Bitcoin.

MSTRX is essentially a price tracking certificate that allows users to participate in the company's stock price fluctuations through crypto assets without having to purchase actual shares.

The main difference between holding MSTRX and directly holding MicroStrategy stock is:

• No shareholder rights: does not enjoy governance rights such as voting rights in the company.
• No cash dividends: The cash dividend distribution of traditional stocks does not directly apply to MSTRX (dividends are usually reflected indirectly through token value adjustments).
• Price exposure only: Purely obtaining the gains from MicroStrategy's stock price fluctuations, without involving actual ownership of the company.

##Four-Step Guide: How to Purchase MSTRX in the Gate xStocks Area

Gate platform will globally launch the xStocks section on July 3, 2025, becoming the first trading platform to support the tokenization of stock contracts market. Below is the complete process for purchasing MSTRX:

Step 1: Account Preparation and Registration

• Visit Gate.com and complete registration
• Ensure that there is sufficient USDT in the account (all xStocks trading pairs are settled in USDT)

Step 2: Fund Recharge

• After logging into your account, go to the 【Assets】 - 【Spot】 page.
• Select USDT to get the deposit address (supports multi-chain deposits)
• It is recommended to use the Solana or TRC-20 network to reduce transfer fees.

Step 3: Locate the trading pair ###

• Click on the top navigation bar 【Trading】, select 【xStocks Area】
• Enter "MSTRX/USDT" in the search box
• Gate provides both spot and contract trading options for MSTRX.

Step 4: Place an order to buy ###

• Spot trading: Direct buy and sell of MSTRX Token
  • Market Order: Execute immediately at the current best price
  • Limit Order: Set an ideal purchase price (e.g., 170 USDT), waiting for market fluctuations to trigger.
• Contract Trading: Supports 1-10x leverage for long/short positions
  • Going long (bullish): Open a position by buying when expecting MSTRX to rise
  • Short selling (bearish): Selling to open a position with the expectation of a decline.

Advanced Techniques: Large traders can enter Gate's [Alpha Zone] to enjoy better liquidity and slippage control.

Core Advantages and Potential Risks of xStocks

The five major advantages that cannot be ignored

1. Borderless Investment: Users can buy and sell MSTRX at any time.
2. Strategy Flexibility: Supports leveraged long/short positions, breaking the traditional stock market's limitation of only being able to "buy up."
3. High efficiency and low cost: Based on high-performance blockchains like Solana, settlement is compressed from the traditional T+2 days to sub-second completion.
4. Transparency Assurance: The custodial bank publishes reserve proof every month to ensure a 1:1 correspondence between the Token and stock reserves.
5. Ecosystem Interoperability: MSTRX can be transferred to protocols like Kamino to participate in staking or used as collateral for lending.

The four major risks that ### must understand.

• Limited liquidity: Aside from popular assets like TSLAx, most tokenized stocks have limited volume, resulting in insufficient liquidity issues.
• Regulatory uncertainty: The SEC has not yet recognized the legality of tokenization of stocks, and policies in places like Switzerland and Singapore are still evolving.
• Rights differences: Holding MSTRX does not participate in MicroStrategy shareholder voting, and the dividend distribution method is different from traditional stocks.
• Technical risk: In 2025, the Solana network experienced a brief interruption, causing multiple platforms to suspend xStocks withdrawals.

Future Prospects: The Development Direction of Tokenized Stocks

With the promotion of mainstream exchanges like Gate, xStocks is rapidly expanding:

• Volume has exploded: The total volume surpassed 2 billion USD in early August 2025, with centralized exchanges accounting for 97%.
• Product innovation acceleration: Developing from spot trading to perpetual contracts and other derivatives to meet the high-risk appetite of crypto users.
• Asset diversification: Extending from publicly listed company stocks to private equity tokenization may reshape the liquidity model of early-stage company equity.
• Cross-chain expansion: has expanded from Solana to the BNB Chain ecosystem, enhancing multi-chain interoperability.

Kraken co-CEO Arjun Sethi commented: "The future of capital markets will be chain-neutral, composable, and multi-chain."

##Future Outlook

With platforms like Gate launching over 60 types of stock tokens, the daily trading volume of xStocks has exceeded 5 billion USD. African investors are trading Apple stocks after the New York market closes, and users in the Middle East can configure stock assets without local brokers—these scenarios are becoming a reality.

xStocks represents not just technological innovation, but also an important attempt at the democratization of global finance. As high-performance blockchain and regulatory frameworks continue to improve, tokenization of stocks is expected to become a key channel bridging traditional finance and decentralized finance.