Mastercard xStock 

MAX Price

What is Mastercard xStock?

Mastercard xStock (MAX) gives crypto users 24/7 on-chain price exposure to Mastercard Incorporated Class A shares (NYSE: MA) — tokenized equity without a brokerage account. Backed Assets (JE) Limited issues the certificate as part of the xStocks suite, and each MAX token tracks one MA share on a 1:1 basis. The token is permissionless, fractional and DeFi-composable — usable as lending collateral or in liquidity pools.

Is Mastercard xStock backed 1:1 by real Mastercard shares?

Yes — every MAX token is fully collateralized by one Mastercard Incorporated Class A share held with regulated custodians, including Alpaca Securities LLC, InCore Bank AG and Maerki Baumann & Co. AG. Custody sits in a bankruptcy-remote SPV structure with segregated accounts under a three-party Account Control Agreement. Proof of reserves is publicly verifiable through the issuer's attestation dashboard.

Who issues Mastercard xStock — is it an official Mastercard product?

Backed Assets (JE) Limited issues Mastercard xStock, with Backed Finance AG acting as tokenizer — Mastercard Incorporated is not the issuer, and MAX is not an official Mastercard product or partnership. The certificate carries tracker ISIN CH1436219336. Direct issuance is restricted to non-US persons and to Swiss FinSA professional clients or EU/EEA qualified investors; UK retail clients are excluded. Secondary on-chain trading is permissionless.

Is Mastercard xStock the same as MA stock?

No — MAX packages price exposure to MA stock but is a tracker certificate, not a registered Mastercard share. Each MAX token mirrors one MA Class A share at a 1:1 ratio, including dividend and split adjustments through rebasing. Trading differs too: MA trades on the NYSE during US market hours, while MAX trades around the clock, and off-hours on-chain pricing can carry a premium or discount to the last NYSE close.

What chains is the Mastercard xStock token on?

Mastercard xStock exists as a Solana SPL token (stylized MAx on Solana venues) and through an identical ERC-20 contract address deployed across multiple EVM networks, including Ethereum, Arbitrum One, Binance Smart Chain and X Layer. The EVM deployments use 18 decimals. Token contracts are verifiable on Solscan, Arbiscan, BscScan and Etherscan.

Does Mastercard xStock pay dividends?

Mastercard xStock handles dividends through an on-chain rebasing mechanism rather than direct cash payouts. When Mastercard Incorporated pays a dividend or executes a stock split, token balances adjust so each MAX token continues to mirror 1:1 exposure to one MA Class A share. The same mechanism covers reverse splits and other corporate actions.

What is Mastercard xStock's maximum supply?

Mastercard xStock has no fixed maximum supply — supply is elastic by design. Tokens are minted when investors request issuance and burned on redemption, so every MAX token stays fully backed by one MA share. Supply growth is therefore not dilution: new tokens appear only against equivalent share collateral. The live token count changes continuously and is shown on the token's supply data.

Where can I buy Mastercard xStock on-chain?

Per DropsTab data, MAX trades on Gate and DigiFinex as MAX/USDT centralized pairs, plus a Raydium concentrated-liquidity MAx/USDC pool on Solana that is also reachable through Jupiter routing. Kraken additionally lists MAx through its own xStocks product, but those pairs map to Kraken's wrapper rather than the on-chain Backed token. No derivatives markets are tracked for MAX.

Can Mastercard xStock be traded 24/7?

Secondary trading runs around the clock — MAX/USDT order books on Gate and DigiFinex and the Raydium pool never close. Issuance and redemption through the issuer operate 24/5, aligned with US equity market hours. On-chain pricing relies on oracle feeds such as RedStone, so during closed US market hours the token can trade at a premium or discount to the underlying share's last close. Tracked volumes are thin, so slippage can be meaningful versus the NYSE-listed share.

What fees does Mastercard xStock charge?

The issuer currently charges no management fee on Mastercard xStock; a fee of up to 0.25% per year may be introduced in future. Issuance and redemption through the issuer cost up to 0.50%, per the issuer factsheet. Secondary trades carry only standard venue costs — exchange trading fees on Gate or DigiFinex, or Solana network fees plus pool spread on Raydium.