Approximately $2.9 million worth of tokenized stock (CRCLx) tracking Circle's stock price has been allocated to a DeFi platform. CRCLx is part of the xStocks series and is based on Circle Internet Group shares. According to data from DeFi Lama, the total value locked (TVL) for CRCLx in DeFi is $5.6 million, with an on-chain market capitalization of $42.36 million and a price of $76.51. Bybit has added six xStocks assets, including CRCLx, as collateral for margin trading and virtual asset loans, but does not support the borrowing of the assets themselves. According to CoinGecko, the market capitalization of tokenized stocks is projected to increase to $486.69 million by 2026, with Circle-related tokenized stocks reaching $171.39 million. CRCLx is pegged 1:1 to Circle's stock but does not confer shareholder rights. The U.S. Securities and Exchange Commission (SEC) has stated that tokenized securities can have a separate rights and obligations structure. Trading hours vary by platform, with CRCLx trading available on Kraken for 24 hours, five days a week.
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