
In this VALR Podcast episode, Farzam Ehsani interviews Adam Levi of Backed, issuer of xStocks, tokenised equities launched in June 2025. Comparable to stablecoins, xStocks track underlying equities like Tesla, offering fractionalisation, instant settlement, and 24/7 trading. Levi predicts tokenised equities surpassing stablecoins’ value by 2033. Backed leverages The vision? A financial system democratising wealth creation, countering fiat erosion.