Tokenized equity and ETF products issued in Switzerland under DLT-friendly law.
Last updated 2026-06-20
Backed is the issuer behind xStocks and a long list of tokenized equity products distributed across crypto exchanges (Kraken, Bybit, Bitfinex, others). The Swiss DLT Act provides the legal framework, and the tokens are widely distributed and recognised in DeFi.
GM Markets is product-first, not issuer-first. You sign in with a wallet or social account, see a discovery feed (watchlist, top movers, sectors), tap Buy on an asset, and trade — no need to identify your way to the right venue or pool. Tokens settle directly into your embedded wallet via RFQ rather than via an external exchange's order book.
They're not directly comparable — Backed is an issuer; GM Markets is a consumer trading platform. The closest comparison is to one of the venues that distributes Backed's tokens (e.g. Kraken's tokenized-stock listings). See our /vs/kraken page when published.
No. GM Markets uses its own custody arrangement via regulated US broker-dealers such as Alpaca Markets and Interactive Brokers. The two platforms hold distinct token contracts against distinct custody relationships.
Embedded wallet, no exchange KYC, fractional from $1, fees baked into one quoted price, and a product surface designed around your watchlist and holdings rather than an order book. If you want order-book trading with limit orders and full venue tooling, the exchange route fits better.
