Key Takeaways:
- Hyperliquid added at least 10 xStocks tickers to spot trading via Chainlink CCIP
- AAPLx and NVDAx are 1:1 backed tokenized equities from Backed Finance
- CCIP quarterly volume hit $4.9 billion in Q2, up 353 percent year over year
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Hyperliquid adds 10 tokenized US stocks to DEX via Chainlink CCIP
Hyperliquid added at least 10 tokenized US equity tickers via Chainlink CCIP, bringing 1:1 backed stocks like AAPLx and NVDAx to its DEX.
The xStocks are tokenized representations of US equities and ETFs developed by Backed Finance, part of the Kraken Group, with each token backed 1:1 by the corresponding underlying asset held in reserve, according to the issuer.
Chainlink's CCIP processes cross-chain transfers through a burn-and-mint mechanism, destroying tokens on the source chain and recreating them on Hyperliquid. The protocol bridges HyperCore, Hyperliquid's custom order-book engine, with HyperEVM's ERC-20 environment. CCIP quarterly volume reached $4.9 billion in Q2, up 353 percent year over year, while more than $7 billion in token value has migrated from legacy bridges since April, according to Standard Chartered.
The integration expands Hyperliquid beyond perpetual futures into spot equities, a market Standard Chartered projects will reach $4 trillion in tokenized assets on-chain by end-2028. The bank initiated Chainlink coverage with a $200 price target by 2030, up from roughly $8 today.
The cross-chain infrastructure also uses xBridge, which initially focused on Ethereum-to-Solana transfers before expanding to support Hyperliquid. Together, CCIP and xBridge create a pipeline for tokenized assets to move across chains and land on Hyperliquid's spot markets.
Until now, Hyperliquid was primarily known for perpetual futures trading, where it has carved out a dominant position among decentralized exchanges. Adding tokenized equities to its spot markets represents a meaningful expansion of its product surface area.
The CCIP integration on Hyperliquid has been live since July 2025, giving the infrastructure several months to stabilize before the xStocks rollout gained traction. Chainlink's total value secured stands above $110 billion, covering roughly 70 percent of oracle-dependent value in DeFi globally and more than 80 percent on Ethereum, according to Standard Chartered.
The bank named Swift, DTCC, Euroclear, JP Morgan, Mastercard, UBS, Fidelity and S&P Global among institutions using Chainlink services, and expects off-chain customers to become a growing share of fees. Tokenized funds and bonds need net asset values, rates and reserve attestations, making them more data-hungry than crypto-native assets.
Standard Chartered's note sets staged LINK targets of $13 by end of this year, then $41, $82 and $133 before reaching $200. LINK was trading at $8.25 Monday, down 0.8 percent, according to CoinGecko.
The convergence of tokenized equities and decentralized exchanges could accelerate as more platforms follow Hyperliquid's lead. With Standard Chartered projecting $4 trillion in tokenized assets on-chain by end-2028, the infrastructure that moves these assets between chains becomes increasingly critical to the broader DeFi ecosystem.
This article is for informational purposes only and does not constitute investment advice.
