xStocks, the leading tokenized equities framework powered by Payward, announced a partnership with Fundrise, the largest direct-to-consumer alternative investment platform in the U.S., to tokenize its newly launched Fundrise Innovation Fund.

The partnership brings onchain access to a diversified portfolio of high-growth private technology companies, including SpaceX, OpenAI, Anthropic, and Databricks, through a single tokenized asset, the VCXx asset.

The VCX fund, which debuted publicly last week and has already seen strong early demand, represents one of the most compelling new avenues for accessing late-stage private markets. By bringing VCX onchain, xStocks and Fundrise are extending tokenized equities beyond public markets and into private company exposure, one of the most sought-after and historically inaccessible segments of the market.

“VCX is more than a public listing. By tokenizing this public venture fund, we are opening access for eligible investors around the world to gain exposure not only to a public vehicle, but to a portfolio with private exposure to some of the top companies in the world,” said Arjun Sethi, Co-CEO of Payward.

xStocks has rapidly emerged as the largest provider of tokenized equities, with over $25 billion in combined transaction volume and more than 100,000 unique holders globally. The platform currently supports over 100 tokenized stocks and ETFs, and is built to be multi-chain and interoperable by design, enabling assets to move seamlessly across wallets, protocols, and trading venues.

The addition of the VCX fund introduces a new category within the xStocks ecosystem, expanding beyond public equities to include tokenized access to private market portfolios onchain.

“We built VCX to act as a bridge between the public and private markets,” said Ben Miller, CEO of Fundrise. “We believe all individual investors should be able to own a piece of the best private technology companies in the world. We have long admired Kraken’s approach to breaking down barriers to the best investments and are excited to see them continue to grow their innovative xStocks platform.”

Traditionally, access to late-stage private companies has been limited to institutional investors and high-net-worth individuals, often requiring significant capital commitments and long lock-up periods. By tokenizing VCX, xStocks and Fundrise are introducing a new investing model, where diversified private market exposure can be accessed, transferred, and integrated into onchain financial applications with the same flexibility as any other digital asset. The launch comes amid accelerating institutional momentum around tokenized equities. Payward, the parent company of xStocks, recently announced a partnership with Nasdaq to explore next-generation infrastructure connecting traditional equity markets with onchain systems, further bridging the gap between regulated financial markets and decentralized finance.

As a tokenized asset, VCX will integrate seamlessly across the xStocks ecosystem, unlocking use cases beyond simple exposure — including collateralization, lending, and integration into automated onchain strategies.