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Fiat-crypto payment solution provider Alchemy Pay has launched its fiat-to-RWA investment platform with xStocks integration, enabling global users to purchase tokenised U.S. stocks and ETFs directly with local fiat currencies.
The platform supports over 60 tokenised equities, including Apple, Tesla, Circle, Coinbase, and SPY, with fiat payment methods including Visa, Mastercard, Apple Pay, Google Pay, Sepa, and 50+ local payment options across mobile wallets and bank transfers in 170+ countries. The service represents what the company describes as the first globally available product offering direct fiat access to tokenised assets.
The platform integrates tokenised stocks issued by Backed's xStocks, which are backed 1:1 by real shares held with regulated custodian banks and brokers. The tokens reflect benefits such as dividends and splits, with a low entry threshold starting from just USD 1, allowing users fractional exposure to leading U.S. assets.
To ensure accurate pricing, Alchemy Pay aggregates real-time data from institutional-grade sources including Backed, Kraken, and licensed U.S. stock data providers. The trading infrastructure supports 24/5 access, with execution partners including Kraken and Backed providing liquidity and uptime.
The launch builds on Alchemy Pay's earlier partnership with Backed and the integration of xStocks, combining the company's fiat onramp infrastructure with Backed's regulated token issuance capabilities. The collaboration forms part of the broader xStocks alliance alongside Solana, Kraken, Bybit, and Chainlink.
The timing coincides with significant growth in real-world asset tokenisation. According to Binance Research, the RWA market grew more than 260% in the first half of 2025, surpassing USD 23 billion in value. Regulatory developments, including the U.S. Senate's passage of the GENIUS Act and updated SEC guidance, have accelerated institutional and retail interest in blockchain-based financial products.
Major platforms including Robinhood and Kraken have recently expanded into tokenised stocks, whilst Backed's xStocks alone have surpassed USD 4 billion in combined centralised and decentralised exchange volume.
The platform addresses traditional barriers including high entry thresholds and jurisdictional restrictions that have historically excluded users, particularly in emerging markets, from investing in global equities. By combining tokenisation with localised fiat payment support, the service aims to bridge access gaps in global financial markets.
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