OPEN xStock 

OPENX Price

What is OPEN xStock (OPENX), the tokenized Opendoor stock?

OPEN xStock (OPENX) gives crypto traders 24/7 on-chain exposure to Opendoor Technologies Inc. (NASDAQ: OPEN) — the US iBuyer residential real-estate platform — without a brokerage account. Backed Assets (JE) Limited issues OPENX as a tokenized tracker certificate under the xStocks product line. Each token is fully collateralized 1:1 by underlying OPEN shares. OPENX carries economic price exposure only: holders receive no voting or shareholder rights, and the instrument is legally a bearer debt instrument, not a direct share claim.

Is the OPENX tokenized stock backed by real Opendoor shares?

Yes. Every OPENX token is collateralized 1:1 by an underlying Opendoor Technologies share held with regulated custodians, including Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG, and GTN Europe Financial Services Ltd. The underlying share carries ISIN US68371M1077. The certificate itself carries ISIN CH1473120991. Backed Finance AG acts as tokenizer for the xStocks line, which launched in June 2025 in partnership with Kraken.

What blockchains is OPENX on?

Per DropsTab data, OPENX exists across three contract deployments: a Solana SPL token, an ERC-20 contract on Ethereum, and the same ERC-20 contract on BNB Chain. The Ethereum version uses 18 decimals. This multi-chain setup makes the tokenized Opendoor position composable in Solana DeFi while keeping the ERC-20 version accessible to Ethereum-ecosystem wallets.

Does OPENX have a fixed maximum token supply?

No. OPENX supply is an elastic mint-and-redeem inventory with no fixed maximum — new tokens are minted only against Opendoor shares deposited with the custodian, and tokens are burned on redemption. Supply therefore expands and contracts with demand for the wrapped share. The live figure is on DropsTab. Inflation in the crypto sense does not apply; the dilution variable sits in Opendoor's own share count.

Can I buy tokenized Opendoor stock?

Yes, on both DEX and CEX surfaces, with different access rules. Per DropsTab data, the tracked on-chain market for OPENX is the FluxBeam OPENx/USDC pair on Solana. External coverage also reports the xStock wrapper on centralized venues including Kraken, Bybit, Gate, and DigiFinex. CEX-held tokens are permissioned — withdrawals to non-allowlisted wallets may be blocked. DEX purchases require a Solana wallet and USDC.

What are the risks of trading OPENx instead of the Opendoor share?

Three risks are material. OPENX can trade at a premium or discount to the Nasdaq-listed OPEN share during off-market hours, when the underlying is closed but the token trades. On-chain liquidity sits in a single DEX pair, so slippage and price gaps versus the underlying are larger than on a listed stock. OPENX confers no shareholder rights — price exposure only.

Is OPENx the same as OpenAI stock?

No. OPENx tracks Opendoor Technologies (NASDAQ: OPEN), the residential iBuyer platform — OpenAI remains privately held with no tokenized stock. The OPENX ticker is also used by unrelated assets: OpenxAI Network and OpenSwap, neither of which is linked to Opendoor. Ondo's OPENon tracks the same Opendoor share but comes from a different issuer. Ticker collisions make the issuer, not the symbol, the reliable identifier.

What fees does the OPENX certificate charge?

Currently no management fee applies to OPENX, per issuer documentation for the xStocks line. Issuer documentation reserves the right to introduce a management fee of up to 0.25% per year. Issuance and redemption carry a fee of up to 0.50%. These are certificate-level costs, separate from trading fees or Solana network costs.

Who is allowed to buy OPENx?

OPENX is a Reg S offering, so it is not available to US persons and is not registered under the US Securities Act of 1933. UK retail investors are restricted from buying it. Buyers must qualify as Professional Clients or Qualified Investors under Swiss FinSA or the EU Prospectus Regulation. Retail access on DEXs exists in practice, but the certificate's terms exclude non-qualifying buyers.