Circle xStock 

CRCLX Price

What is Circle xStock (CRCLX), the tokenized Circle stock?

Circle xStock (CRCLX) is a tracker certificate that gives crypto traders on-chain price exposure to Circle Internet Group — the issuer of USDC — without a brokerage account. Backed Assets (JE) Limited issues the certificate under the xStocks program, with Backed Finance AG as tokenizer. The product launched on 2025-06-20. CRCLx exists as a Solana SPL token and as ERC-20 versions. The certificate tracks the CRCL share price; holding CRCLX does not transfer share ownership.

Is CRCLX the same as CRCL stock or USDC?

No. CRCLX is a wrapper instrument that tracks the price of Circle Internet Group shares — the underlying ISIN is US1725731079, the product ISIN is CH1436219773. Holding CRCLX does not confer share ownership or shareholder rights. USDC is Circle's stablecoin and a separate asset entirely; CRCLX tracks Circle's equity, not its stablecoin.

Who issues the CRCLX crypto token?

Backed Assets (JE) Limited, a Jersey-registered entity (LEI 984500001AB7C6C7F577), issues CRCLx under the xStocks program. Backed Finance AG acts as tokenizer. Per rwa.xyz, the framework operates under Liechtenstein's Blockchain Act (FMA). Backed's own corporate investors are a separate matter and are not disclosed at the asset level.

What backs CRCLX's value?

Underlying Circle Internet Group shares back each CRCLx certificate, held through regulated brokers and custodians — Alpaca Securities, InCore Bank, Maerki Baumann, and GTN Europe. This custody chain is a structural dependency: a failure at one named custodian would affect the backing of the whole issuance. New tokens are minted when shares are deposited and burned on redemption.

How does CRCLX token supply work?

CRCLx has no fixed maximum supply. Supply floats through mint and burn against underlying-share movements — tokens are created on share deposit and destroyed on redemption. No team, investor, or ecosystem allocations exist, so no unlock calendar applies to this certificate. Because supply moves with every mint and redemption, live supply counts differ between data feeds; see the live figure on the DropsTab page.

What fees does CRCLX charge?

The issuer charges a 0% management fee on CRCLx today and may introduce up to 0.25% per year, per the issuer's product documentation. Issuance and redemption can cost up to 0.50% per transaction. Trading fees depend on the venue — centralized pairs and Solana DEX pools each set their own charges.

Where can you buy Circle xStock (CRCLX)?

Per DropsTab data, CRCLX trades across three venue types. Centralized spot venues — Gate, Bybit, MEXC, BingX, Biconomy and DigiFinex — quote CRCLX against USDT. Perpetual futures on Gate.io Futures and Kraken Futures reference the underlying equity exposure. On-chain, liquidity concentrates on Solana through Raydium and Meteora pools in USDC, SOL and HYPE pairs.

Which blockchains support the CRCLX token?

The issuer issues CRCLx as a Solana SPL token and as ERC-20 tokens; DropsTab lists the Solana and Arbitrum One contracts. The issuer's own explorer links add Ethereum, Base, Optimism, Mantle, BNB Chain, Ink and HyperEVM. On-chain liquidity is Solana-centric — per DropsTab market data, the Arbitrum ERC-20 version has no DEX pools, so on-chain exits are thinner for that version.

Can US investors buy CRCLX?

No. The certificate is not registered under the US Securities Act of 1933 and is not approved for distribution to US persons, per the issuer. Access is limited to eligible non-US participants on the venues and chains that serve them.