In recent weeks, Robinhood, Kraken, and Bybit have all announced plans to enter the tokenized U.S. stocks arena, fueling a new wave of momentum for real-world assets (RWA).
But even before these announcements, crypto payments firm Alchemy Pay revealed a strategic partnership with RWA tokenization platform Backed, with plans to list xStocks on its newly developed Alchemy Pay RWA investment platform.
At launch, xStocks will feature 60 tokenized assets, including Circle, Apple, Tesla, Google, and the SPY ETF, giving users the ability to directly invest in tokenized U.S. equities and ETFs using fiat currencies. This marks the first RWA platform to offer direct fiat-to-tokenized asset access.
As competition intensifies, what advantages set Alchemy Pay apart? And what does this move reveal about its broader ambitions in the global RWA landscape?
From Experiment to Mainstream: RWA’s Explosive Growth
Industry giants entering the space, together with clearer regulatory frameworks, have pushed RWA from an experimental concept to one of the fastest-growing sectors in on-chain finance.
According to RWA.xyz, total value locked (TVL) in RWA reached nearly $25 billion by July 2025, up 188% from the start of 2024 (around $8.6B), and more than 1,100% growth from early 2022 (about $1.9B).
This new RWA wave differs fundamentally from earlier cycles.
- Institutional adoption: BlackRock, Franklin Templeton, JPMorgan, and WisdomTree have all launched tokenized fund or Treasury products. Visa and Tether are building tokenization platforms. Coinbase has sought SEC approval to offer tokenized equities, while Robinhood, Kraken, Bybit, and now Alchemy Pay are rolling out U.S. stock tokenization services.
- Supportive regulation: Switzerland, Hong Kong, and Singapore have introduced tokenization frameworks. In the U.S., the GENIUS Act will provide legal clarity for stablecoins and pave the way for tokenizing a wide range of financial assets.
- Mature DeFi infrastructure: After several cycles, DeFi has established robust primitives, DEXs, lending markets, stablecoins, and asset management protocols that provide liquidity rails for RWA.
Analysts now predict that by 2030–2034, between 10% and 30% of global assets could be tokenized, positioning RWA as a transformative force in finance.
What Sets Alchemy Pay RWA Apart?
Alchemy Pay’s RWA investment platform is set to officially launch in August with xStocks, the first batch includes 60 tokenized U.S. stocks and ETFs such as Apple, Tesla, Google, Circle, and SPY, with plans to expand into real estate, bonds, and other RWAs.
Key advantages include:
- Fractional ownership & global access
Users can invest in U.S. stocks around the clock, free from Wall Street’s trading hours. By removing the need for cross-border brokerage accounts and enabling fractional purchases as low as $1, the platform makes high-demand equities accessible to non-U.S. investors everywhere.
- Mature fiat payment rails
What sets Alchemy Pay apart is its established global fiat-crypto gateway. Supporting 173 countries, 50 fiat currencies, and 300+ payment channels, including Visa, Mastercard, Apple Pay, Google Pay, SEPA, PIX, and local wallets, the platform allows investors to purchase tokenized stocks directly with fiat, eliminating the need to first convert into crypto.
- User-friendly design
Leveraging years of payments experience, the RWA platform’s UI/UX is designed to be intuitive for both crypto-natives and traditional investors. Its “Buy Stocks” portal offers one-click purchasing, streamlining the entire process.
Built on Backed’s xStocks with Institutional-Grade Security
Alchemy Pay, like Kraken and Bybit, has chosen to integrate Backed’s regulated tokenization platform, xStocks, as its infrastructure provider.
Each token corresponds 1:1 with real underlying shares or ETFs, which are custodied by Backed. This framework ensures compliance and security while granting investors full economic rights, including dividends, stock splits, and distributions.
By joining forces with industry leaders such as Kraken, Bybit, Solana, and Chainlink, Alchemy Pay positions itself not just as a participant but as a standard-setter in the emerging RWA ecosystem.
From Payment Gateway to Global Crypto Finance Hub
Alchemy Pay’s ambitions extend beyond RWA. In Q4, the company plans to launch Alchemy Chain and issue its own stablecoin, creating an infrastructure that supports seamless conversion between global stablecoins (USDT, USDC) and regional ones (EURC, MBRL).
Since its founding, Alchemy Pay has become a leading global payment gateway, enabling frictionless fiat-to-crypto conversions in 173 countries. With the rollout of its RWA platform and the upcoming launch of Alchemy Chain, the company signals its next chapter: evolving from a payments service into a global digital finance hub.
Much like some payment giant’s evolution from a simple payments app to a financial super-app integrating investments, lending, and insurance, Alchemy Pay is charting a similar course, but in a decentralized, global-first context. Its strategy blends payments + assets + infrastructure, aiming to connect traditional and digital finance on a worldwide scale.
In the near future, Alchemy Pay could become the primary crypto financial hub for global investors to access tokenized assets, bridging Wall Street and Web3.
About Alchemy Pay
Founded in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its offerings including On & Off-Ramp, Web3 Digital Bank, NFT Checkout and its newly launched RWA platform, Alchemy Pay supports fiat payments in 173 countries.
The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The RWA platform allows global users to invest in tokenized real-world assets using local fiat currencies, lowering entry barriers and democratizing access to traditional financial instruments. Our Web3 Digital Bank supports Web3 enterprises by providing multi-fiat accounts and instant fiat-crypto conversion capabilities. Additionally, the NFT Checkout enables direct purchases of NFTs using fiat payment methods. ACH is the Alchemy Pay network token on the Ethereum blockchain.
