Tesla xStock

TSLAX

RWA, payments and rwa weightsMarket-cap rank 359, CoinGecko 23 Oct 2026

STRICT score withheld.Score opens with Pro

Sustainabilitywithheld×0.24–

Transparencywithheld×0.20–

Revenuewithheld×0.16–

Innovationwithheld×0.12–

Communitywithheld×0.12–

Tokenomicswithheld×0.16–

Weights are public.

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About Tesla xStock

Analysis of 4 May 2026

Tesla xStock (TSLAX) is a tokenized representation of Tesla Inc. (TSLA) stock issued by Backed Assets (JE) Limited through the xStocks platform, powered by Backed Finance AG, a Swiss-regulated tokenization company. Each TSLAX token is backed 1:1 by real Tesla shares held at Alpaca Securities LLC, a SEC-registered, FINRA-member, SIPC-protected broker-dealer, with secondary custodians including Maerki Baumann & Co.

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AG and InCore Bank in Switzerland. The token uses a rebasing mechanism where a multiplier adjusts for dividends (net of 30% withholding tax) and corporate actions like stock splits, automatically reinvesting distributions into the token price.

TSLAX operates across six blockchains: Ethereum, Arbitrum, BSC, Solana, TON, and Mantle, using an ERC-20 upgradeable architecture on EVM chains with OpenZeppelin contracts.

Backed Finance, now part of Kraken following the exchange's acquisition, holds regulatory approvals from Liechtenstein FMA and Jersey JFSC, and operates under MiFID II and Swiss DLT Act frameworks. The xStocks platform reports over $28 billion in combined transaction volume and more than 100,000 holders across its tokenized stock products.

TSLAX launched on June 20, 2025, with ISIN CH1436219252, and charges 0% management fees with a 0.5% subscription and redemption fee.

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