Tesla xStock tslax

Tesla xStock (TSLAx) is a Backed-issued tokenized tracker certificate that follows the price of Tesla, Inc. (NASDAQ: TSLA). The official product page describes it as issued in ERC-20 and Solana SPL forms for eligible cryptocurrency-market participants. It is not stock issued by Tesla and should not be represented as direct ownership or voting equity in Tesla.

The xStocks framework describes its products as 1:1-backed tokenized equities and ETFs. The corresponding underlying asset is held with regulated custodians, while the token can be fractional, self-custodied, transferred between wallets, and traded on supported venues around the clock.

Tesla is an American company focused on electric vehicles and energy-generation and storage systems. TSLAx provides blockchain-based economic exposure to Tesla's share price, rather than a claim to Tesla corporate governance. Availability and eligibility depend on jurisdiction and venue.

Traditional equity exposure is commonly constrained by exchange hours, intermediaries, jurisdictional access, settlement processes, and whole-share or platform requirements. TSLAx packages Tesla price exposure into a blockchain token that can move to compatible wallets and interact with supported onchain venues and applications.

Tokenization does not remove investment risk. TSLAx remains exposed to Tesla's price volatility and also introduces issuer, custody, smart-contract, liquidity, oracle/tracking, operational, and regulatory risks. Backed's disclosures prohibit distribution to U.S. persons and impose other jurisdictional restrictions; TSLAx is not a substitute for ordinary Tesla shares.

Backed Assets (JE) Limited is the issuer and Backed Finance AG is identified as tokenizer. The product page gives TSLAx certificate ISIN CH1436219252 and identifies Tesla Inc. as the underlying issuer, with underlying ISIN US88160R1014 and symbol TSLA. Listed service providers include Alpaca Securities, InCore Bank, Maerki Baumann, GTN Europe Financial Services, and Security Agent Services AG.

The xStocks documentation says each token is backed 1:1 by the corresponding underlying equity. Eligible users can access tokenized exposure through supported issuance, redemption, exchanges, and DeFi venues. The product page states there is currently no management fee, though up to 0.25% per year may be introduced, and issuance/redemption fees may be up to 0.50% of investment value.

Corporate actions are handled through an onchain multiplier. Dividends received by the custodian are reinvested into additional shares net of applicable withholding taxes, increasing the multiplier; stock splits and reverse splits adjust it proportionally. EVM contracts adjust balances automatically, while Solana and TON retain the raw onchain balance and expose the multiplier in token metadata for wallets and applications.

The official xStocks DeFi portal lists TSLAx across a multi-chain ecosystem. At the time researched, it listed Solana mint XsDoVfqeBukxuZHWhdvWHBhgEHjGNst4MLodqsJHzoB and Optimism contract 0x8ad3c73f833d3f9a523ab01476625f269aeb7cf0, alongside TON and Tron references. Users should verify current contract addresses from the official portal before transacting.