Odaily星球日报讯 加密 KOL @ _FORAB 于 X 平台发文解析 Kraken、Bybit、Jup 等平台接入 xStocks 后实现币股流通背后原理称，（美股代币化主要）由注册在瑞士的母公司，控制着在泽西岛的 Backed Assets。它们通过盈透证券下 IBKR Prime 的通道，在美股市场买入股票，然后转移放置在 Clearstream 下的隔离账户。而 Clearstream 是德交所下的存管机构，帮助它们保存这些股票。当以上买入、转移、存入操作完成后，会触发已部署在 Solana 链上的合约，对应股票代币的增发工作，即每买 1000 股特斯拉股票并存好，链上会 1 : 1 铸造 1000 枚 TSLAx 代币。 代币合约的控制地址，归 Backed 这家发行商所有。之后第三方交易所，如 Kraken、Bybit、Jupiter 等，可直接上架这些代币的现货、合约。 如果投资者、做市商买入了大于等于 1 的 TSLAx 代币，可以去找 Backed 申请，兑成券商下实际的特斯拉股票。这样，算是完成了整个币股的抵押、铸造、发行、赎回工作。
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