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What is Intel xStock (INTCX)?

Quick Facts

  • Issuer: Backed Finance AG, based in Zug, Switzerland
  • Backing: 1:1 collateralized by real Intel Corporation (INTC) shares
  • Custodians: Regulated Swiss banks (e.g., InCore Bank, Maerki Baumann)
  • Blockchains: Solana (SPL) and Arbitrum
  • Launch: Officially went live on June 30, 2025
  • Eligibility: Available to non-US users only; KYC required
  • Regulatory framework: Swiss DLT Act and EU-compliant ISIN

Introduction

Intel xStock (INTCX) is a tokenized stock that brings exposure to Intel Corporation's publicly traded equity onto the blockchain. It is part of the xStocks product line developed by Backed Finance — one of the pioneering issuers of compliant, on-chain tokenized equities.

Rather than buying Intel shares through a traditional brokerage, eligible investors can hold INTCX tokens in a crypto wallet and interact with them across DeFi protocols — all while tracking the real-time price of Intel stock.

History & Background

Backed Finance AG was founded in 2021 in Zug, Switzerland, by co-founder Adam Levi. The company was built specifically to leverage Switzerland's DLT Act — a legal framework that allows securities to exist natively on a blockchain as uncertificated register securities.

xStocks, the consumer-facing product line, officially launched on June 30, 2025, going live on Bybit, Kraken, and the Solana DeFi ecosystem simultaneously. In December 2025, Backed became a subsidiary of Kraken's parent company.

How Intel xStock Works

When a qualified investor mints INTCX, Backed Finance purchases the equivalent number of real Intel (INTC) shares on a traditional brokerage. Those shares are then held in segregated custody accounts at regulated Swiss banks.

The corresponding INTCX tokens are issued on-chain at a 1:1 ratio. Anyone can verify Backed Finance's on-chain reserves in real time, ensuring full transparency of collateral. Tokens can be freely transferred after issuance, making them usable as DeFi collateral or tradeable assets without whitelist restrictions.

Tokenomics

INTCX is fully collateralized — every token in circulation corresponds to one Intel share held in regulated custody. New tokens are minted when investors purchase through Backed's primary market, and redeemed (burned) when they exit. This elastic supply model means the token count always reflects actual custodied shares.

The token carries no inflationary emissions or protocol rewards. Its value is entirely derived from the underlying Intel Corporation stock price.

Circulating Supply ? 6,000 INTCX
Total supply ? 6,000 INTCX
Max supply ? -- INTCX
Updated 9mo ago

Ecosystem & Use Cases

INTCX is composable with major Solana DeFi protocols including Raydium, Jupiter, and Kamino, all members of the xStocks Alliance. Users can trade INTCX on-chain 24/7, use it as collateral, or provide liquidity — capabilities unavailable in traditional equity markets.

On centralized venues, INTCX is listed on Bybit and Kraken, offering familiar order-book trading alongside on-chain access.

Team, Governance & Community

Backed Finance was co-founded by Adam Levi, previously a co-founder in the DAO tooling space. The team spans Israel and Switzerland, with deep expertise in regulatory compliance and blockchain infrastructure.

Governance of the xStocks protocol is centralized under Backed Finance. The company handles compliance, custody arrangements, and token issuance. Community engagement is coordinated via the xStocks social channels.

Advantages

  • Real asset backing: Every INTCX token is fully collateralized 1:1 by actual Intel shares in regulated custody.
  • DeFi composability: Usable 24/7 across DEXs, lending protocols, and liquidity pools.
  • On-chain transparency: Reserves are publicly verifiable on-chain at any time.
  • Regulatory clarity: Issued under Switzerland's DLT Act with EU-compliant ISIN, providing a clear legal structure.
  • Fractional access: Allows smaller investors to gain Intel equity exposure without a traditional brokerage account.

Risks & Challenges

  • Custodial risk: Underlying shares rely on third-party Swiss banks; any custodian failure could impact token holders.
  • No shareholder rights: Holders receive economic exposure but do not own Intel shares legally, nor do they gain voting rights or direct dividend entitlements.
  • Geographic restrictions: US persons are currently excluded from holding or purchasing INTCX.
  • Regulatory evolution: Changes to Swiss DLT law or EU regulations could affect token transferability and DeFi composability.
  • Underlying asset volatility: INTCX price moves in tandem with Intel Corporation stock, inheriting all equity market risks.

Long-Term Vision

Intel xStock represents a broader movement to merge traditional capital markets with open blockchain infrastructure. Backed Finance's goal is to make tokenized equities a standard building block in DeFi — offering the world's investors frictionless, compliant access to publicly traded companies around the clock, without geographic or institutional barriers.

Frequently Asked Questions

Intel xStock (INTCX) is a tokenized stock issued by Backed Finance that tracks the price of Intel Corporation (INTC) shares on a 1:1 basis. It is issued on blockchain networks such as Solana and Arbitrum, allowing eligible users to gain equity-like exposure through crypto infrastructure.

Yes. Each INTCX token is fully collateralized by one real Intel Corporation share, held in segregated custody accounts at regulated Swiss banking institutions. On-chain reserves can be verified publicly and in real time.

INTCX is issued by Backed Finance AG, a Swiss company founded in 2021 and operating under Switzerland's DLT Act. Backed Finance became a subsidiary of Kraken's parent company in December 2025.

No. Due to regulatory compliance requirements, INTCX is currently restricted to non-US users. Eligible users must also complete a KYC process before participating in the primary market.

No. INTCX holders receive economic exposure to Intel's stock price but do not legally own the underlying shares. This means there are no voting rights, and dividends are handled through the token's economic structure rather than direct shareholder entitlements.

INTCX is available on centralized exchanges including Bybit and Kraken, as well as on Solana DeFi platforms such as Raydium and Jupiter. It can also be used as collateral in lending protocols like Kamino.

INTCX is primarily issued as an SPL token on the Solana blockchain and is also available on Arbitrum. This multi-chain presence enables broad accessibility across both centralized and decentralized trading venues.

Unlike synthetic tokens that use derivatives or algorithms to mimic price exposure, INTCX is directly backed by physical Intel shares held in regulated custody. This makes it a fully collateralized real-world asset token rather than a derivative instrument.