TSLAX Tesla xStock Rank #400

Tesla xStock (TSLAX) is a tokenized representation of Tesla, Inc. equity issued on the Backed Finance xStocks platform. Each token is backed 1:1 by the corresponding underlying share, providing holders with an on-chain claim to the value of the stock. The asset is designed to be fully compliant with European Union regulations and is offered to non-US users, allowing participation without the traditional infrastructure of conventional brokerages. TSLAX functions as a blockchain-based stock proxy, enabling users to gain exposure to Tesla's price movements through a token that behaves like other digital assets. It is deployed across multiple networks, including BNB Chain, Solana, Ethereum, Mantle, and TON, and can be traded on leading centralized and decentralized exchanges or composed into broader DeFi applications such as lending, borrowing, or liquidity provisioning. Classified within the Real World Assets and tokenized stock categories, TSLAX represents the broader movement of bringing traditional equity instruments on-chain, with a focus on accessibility, regulatory alignment, and interoperability with decentralized finance.