Cake Wallet Users Can Now Trade xStocks Using Exolix Integration

Cake Wallet, a leading non-custodial wallet focusing on decentralization and anonymity, has introduced a new feature that allows direct trading of xStocks in the app. With its collaboration with Exolix, a leading multi-chain swap aggregator, users of Cake Wallet now have access to tokenized representations of international stocks and ETFs such as Tesla, Amazon, Google, and Nvidia directly from their crypto wallet.

A New Step Toward Financial Inclusion

xStocks are a potent disruption in the intersection of traditional finance and blockchain. Each xStock is a tokenized representation of an already publicly traded stock, with users being able to diversify their holdings by tapping into familiar financial instruments through cryptocurrency. It translates to anyone, anywhere in the world, being able to participate in global markets without employing traditional brokers or middlemen.

For Cake Wallet customers globally, the integration heralds a new era of investment and access to borderless capital markets. Sellers and buyers can buy and trade units in blue-chip stocks in seconds, securely, privately, and without the usual restrictions of centralised trading platforms or verification procedures.

Real-Asset Backing

xSecurities issued through Cake Wallet are issued by Backed Assets (JE) Limited, the subsidiary of Backed Finance AG, a Jersey and Swiss-regulated financial services firm. Priced at the price of the underlying asset, each token is economically backed on a 1:1 basis by custodians such as Alpaca Securities LLC, InCore Bank AG, and Maerki Baumann & Co. AG.

This model assures that all tokenized assets are reflections of the real-world performance of the underlying equity, with transparency and stability to investors. xStock holders retain on-chain ownership with the security of regulated custodial management - a model that harmonizes blockchain's liberality with institutions' trust.

Easy and Safe Swaps by Exolix

Exolix API makes the integration possible and enables users to swap over two thousand cryptocurrencies in a convenient, private, and non-custodial way. Thanks to the sophisticated routing and liquidity aggregation technology of Exolix, Cake Wallet users can buy xStocks for their Monero, Bitcoin, or Ethereum in a few clicks. The move also resonates with Cake Wallet's increased focus on privacy, backed by key privacy technologies such as XMR, Bitcoin Silent Payments, Litecoin MWEB, and native Tor, securing safer usage of the top cryptocurrencies.

Exolix aggregates liquidity from multiple sources on decentralized and central exchanges (DEX and CEX) in a way that there's instant rate optimization and safe swaps even during the most volatile of times. This ensures private Cake Wallet users enjoy fast and easy transactions and maintain full control of their assets - no registration, no storage, and no exposure of individual information.

Expanding the Cake Wallet Ecosystem

Since its launch in 2018, Cake Wallet has come to be recognized as one of the globe's most trustworthy privacy wallets and is well-supported by the Monero community. It is supported on Android, iOS, macOS, and Linux operating systems, with native support for top cryptocurrencies BTC and ETH.

With the acquisition of Exolix, Cake Wallet cements its status as a one-stop shop in the realm of privacy-focused financial solutions.

"xStocks represent Cake Wallet's ambition to democratize access to global financial markets without forcing people to make compromises on privacy or control. Now, whether you're in New York or Nigeria, you can invest in the world's biggest companies using crypto with the same privacy and self-custody our users expect." - Vikrant Sharma, CEO of Cake Wallet

Exolix: Technology Enables Seamless Swaps

Being a multi-chain swap aggregator operating for over seven years, Exolix has grown to become a leading provider of support for over 4 million trading pairs across over 200 blockchains. The solution is completely non-custodial and free from any KYC, with private swap routes, AML-screened liquidity, and under five-minute average execution time.

Exolix provides unmatched liquidity through aggregated routes and intelligent optimization algorithms. Revenue share configurations that can be tailored and technical assistance make it an ideal solution for wallets and DeFi projects that want to add a robust swap infrastructure.

With xStocks introduced via Exolix, Cake Wallet further establishes itself as a pioneer of privacy wallets and Exolix solidifies its position as the foundation of decentralized exchange technology to unite users, assets, and blockchains into a unified ecosystem.