KuCoin Says xStocks Assets Under Management Top $1 Billion

KuCoin said xStocks passed $1 billion in assets under management on Oct. 26, a milestone for tokenized stocks and exchange-traded funds that are unavailable to U.S. persons. xStocks had more than 558,000 holders when the $1 billion milestone was reported. The holder count should not be read as a count of distinct people: one person can control multiple wallets. xStocks turn exposure to publicly traded stocks and exchange-traded funds into blockchain tokens. Assets held in custody back the tokens one for one.