{"id":"strategy-pp-variable-xstock","title":"Strategy PP Variable xStock","content":"**Strategy PP Variable xStock (STRCx)** is a tokenized security that represents on-chain exposure to [Strategy Inc.’s](https://iq.wiki/wiki/strategy) Series A Variable Rate Perpetual Stretch Preferred Stock (STRC). The token is backed 1:1 by the underlying preferred shares held in custody and enables [blockchain](https://iq.wiki/wiki/blockchain)-based ownership, transfers, and integration with [digital asset](https://iq.wiki/wiki/digital-assets) platforms while maintaining exposure to the stock’s dividend and price performance. [\\[1\\]](#cite-id-ILXHd7k4QlQwTG0G) \n\n## Overview\n\nStrategy PP Variable xStock (STRCx) is a tokenized security that provides on-chain economic exposure to Strategy Inc.'s Series A Variable Rate Perpetual Stretch Preferred Stock (NASDAQ: STRC). Issued by Backed Assets (JE) Limited under the xStocks framework, each STRCx token is backed 1:1 by the underlying preferred stock held in traditional custody. The token is available across multiple [blockchain](https://iq.wiki/wiki/blockchain) networks, including [Ethereum](https://iq.wiki/wiki/ethereum) and [Solana](https://iq.wiki/wiki/solana), allowing investors to hold [blockchain](https://iq.wiki/wiki/blockchain)-based representations of the underlying security while maintaining exposure to its price movements and dividend distributions.\n\nThe underlying preferred stock pays monthly variable-rate dividends that reset based on market interest rates, subject to a minimum benchmark tied to one-month SOFR, and includes issuer redemption provisions. STRCx combines this traditional financial instrument with [blockchain](https://iq.wiki/wiki/blockchain) infrastructure by enabling digital ownership, on-chain transfers, and integration with [decentralized finance](https://iq.wiki/wiki/defi) applications. The token operates within a regulated issuance framework, with custody, brokerage, [tokenization](https://iq.wiki/wiki/tokenization), and security services provided by regulated financial institutions, demonstrating how publicly traded preferred securities can be represented and managed on [blockchain](https://iq.wiki/wiki/blockchain) networks. [\\[2\\]](#cite-id-aL9OIKa9FHqF3dY2)  [\\[4\\]](#cite-id-sOFNQwUwK7tsQzlq) \n\n## Features\n\nSTRCx features a 1:1 collateralized structure in which each token represents the economic value of a corresponding share of [Strategy Inc.’s](https://iq.wiki/wiki/strategy) Series A Variable Rate Perpetual Stretch Preferred Stock held in custody. The token is issued under the xStocks framework and supports fractional ownership, allowing investors to hold portions of the underlying security. It is available across multiple [blockchain](https://iq.wiki/wiki/blockchain) networks, including [Ethereum](https://iq.wiki/wiki/ethereum), [Solana](https://iq.wiki/wiki/solana), [Arbitrum](https://iq.wiki/wiki/arbitrum), [BNB Chain](https://iq.wiki/wiki/binance-smart-chain), [TON](https://iq.wiki/wiki/the-open-network-toncoin), [Mantle](https://iq.wiki/wiki/mantle-network), [Ink](https://iq.wiki/wiki/ink), [Tron](https://iq.wiki/wiki/tron), X Layer, and other compatible networks, with cross-chain bridging that allows tokens to move between supported [blockchains](https://iq.wiki/wiki/blockchain) without changing the underlying asset.\n\nThe token supports two distinct market structures: a primary market for issuance and redemption, which requires [AML](https://iq.wiki/wiki/anti-money-laundering-aml)/[KYC](https://iq.wiki/wiki/know-your-customer-kyc) verification and operates during traditional market hours, and a secondary market where tokens can be transferred and traded on supported exchanges and [decentralized finance (DeFi)](https://iq.wiki/wiki/defi) platforms at any time. Corporate actions, including dividend distributions, stock splits, and reverse splits, are reflected through an on-chain rebasing mechanism that automatically adjusts token balances to maintain exposure to the underlying security. Because STRCx is issued as a blockchain token, it is compatible with digital wallets, [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange), lending protocols, and other [blockchain](https://iq.wiki/wiki/blockchain)-based financial applications while remaining backed by the underlying preferred shares held in regulated custody. [\\[3\\]](#cite-id-ByB60Dh9MGapNIWU)  [\\[5\\]](#cite-id-pTDtZ3gQn3BLq1X6) ","summary":"STRCx is a tokenized security offering on-chain exposure to Strategy Inc.'s preferred stock, backed 1:1, enabling blockchain transfers and integration with digital platforms for dividends and price performance exposure.","images":[{"id":"QmQ7pKsBNBHfttTx3jvoMAsN2edAK5Lm5AJCrug5R6yPGC","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptoassets","title":"cryptoassets"}],"tags":[{"id":"Token"},{"id":"RWA"},{"id":"Ethereum"},{"id":"Solana"}],"media":[],"metadata":[{"id":"references","value":"[{\"id\":\"ILXHd7k4QlQwTG0G\",\"url\":\"https://xstocks.fi/\",\"description\":\"xStocks official site\",\"timestamp\":1785243618544},{\"id\":\"aL9OIKa9FHqF3dY2\",\"url\":\"https://assets.backed.fi/products/strategy-pp-variable-xstock\",\"description\":\"Backed Assets 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