KEY TAKEAWAYS
- Alchemy Pay partners with Backed to launch a platform offering 60 tokenized U.S. stocks and ETFs, enabling direct fiat-to-tokenized asset investments.
- The platform supports fractional ownership and 24/7 trading, making U.S. equities accessible globally.
- RWA’s growth is driven by institutional adoption and supportive regulations, with TVL reaching $25 billion by July 2025.
In recent weeks, major players like Robinhood, Kraken, and Bybit have announced their entry into the tokenized U.S. stocks market, sparking renewed interest in real-world assets (RWA). However, even before these announcements, Alchemy Pay had already revealed a strategic partnership with RWA tokenization platform Backed. This collaboration aims to list xStocks on its newly developed Alchemy Pay RWA investment platform.
At its launch, xStocks will offer 60 tokenized assets, including major companies like Circle, Apple, Tesla, and Google, as well as the SPY ETF. This platform allows users to invest directly in tokenized U.S. equities and ETFs using fiat currencies, marking it as the first RWA platform to provide direct fiat-to-tokenized asset access.
From Experiment to Mainstream: RWA’s Explosive Growth
The entry of industry giants and clearer regulatory frameworks have propelled RWA from an experimental concept to a rapidly growing sector in on-chain finance. According to RWA.xyz, the total value locked (TVL) in RWA reached nearly $25 billion by July 2025, a significant increase from $8.6 billion at the start of 2024 and a more than 1,100% growth from early 2022.
This new wave of RWA is characterized by institutional adoption, with companies like BlackRock and JPMorgan launching tokenized products. Additionally, supportive regulations in regions such as Switzerland, Hong Kong, and Singapore have further facilitated this growth. The U.S. is also moving towards clearer legal frameworks with the GENIUS Act, which aims to provide clarity for stablecoins and pave the way for tokenizing various financial assets.
What Sets Alchemy Pay RWA Apart?
Alchemy Pay’s RWA investment platform is set to officially launch in August with xStocks, initially featuring 60 tokenized U.S. stocks and ETFs. The platform plans to expand into real estate, bonds, and other RWAs. Key advantages include fractional ownership, allowing users to invest in U.S. stocks around the clock without the constraints of Wall Street’s trading hours. The platform also enables fractional purchases as low as $1, making high-demand equities accessible to non-U.S. investors.
Another distinguishing feature is Alchemy Pay’s mature fiat payment rails. The platform supports 173 countries, 50 fiat currencies, and over 300 payment channels, including Visa, Mastercard, and Apple Pay. This allows investors to purchase tokenized stocks directly with fiat, eliminating the need for prior crypto conversion.
Alchemy Pay has chosen to integrate Backed’s regulated tokenization platform, xStocks, ensuring compliance and security. Each token corresponds 1:1 with real underlying shares or ETFs, which are custodied by Backed. This framework grants investors full economic rights, including dividends and stock splits.
For more details, the announcement can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Alchemy Pay’s launch of a fiat-to-tokenized asset platform with xStocks introduces a new avenue for investing in tokenized U.S. equities using fiat currencies. This development positions Alchemy Pay as a key player in the growing market of real-world asset tokenization.
A recent Grayscale report highlights the rapid institutional adoption of tokenized assets, predicting significant growth as regulatory clarity improves. This aligns with Alchemy Pay’s strategic move to offer a fiat-to-RWA platform, potentially driving further institutional interest and adoption.
As per insights from industry experts, the tokenized stocks market is entering a phase of rapid institutional adoption, driven by the integration of blockchain technology and enhanced liquidity. This supports the significance of Alchemy Pay’s platform in facilitating access to tokenized assets and enhancing market liquidity.
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