Crypto KOL @_FORAB explains how xStocks enables stock trading on Kraken, Bybit, and Jup.  
A Swiss parent company controls Backed Assets in Jersey, buying stocks via IBKR Prime.  
Stocks are stored in Clearstream, a Deutsche Börse depository.  
Solana smart contracts then mint tokens 1:1 (e.g., 1k TSLAx for 1k Tesla shares).  
Backed owns the token contract, letting exchanges list these tokens.  
Holders can redeem tokens for real stocks through Backed.  
This completes the stock-to-crypto flow.