KuCoin opened trading on November 2 in five tokenized instruments linked to Amazon, Coinbase, Intel, Meta and Nvidia shares. The exchange announcement lists AMZNX, COINX, INTCX, METAX and NVDAX, all paired with USDT.
Trading was scheduled in two stages: 10:00 UTC for AMZNX, COINX and METAX, followed by 11:00 UTC for INTCX and NVDAX. Transfers use the Solana network and SPL token standard.
The product description states that each xStock is backed one-for-one by the corresponding underlying share held with a custodian. That is a description of the backing structure, not an independent verification of reserves by FinFly. Holding a token should not automatically be equated with receiving every right of a direct shareholder.
The listings expand the exchange’s product range without eliminating the differences between a listed share and a token. Eligibility depends on platform rules and the customer’s jurisdiction. Exposure also involves the token issuer, custodian and trading venue, rather than only movements in the underlying share price.
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