Mastercard xStock (MAX): issuer, networks, and where it trades

MAX (Mastercard xStock) is a tokenized stock issued by Backed (xStocks), providing holders with synthetic exposure to Mastercard's underlying asset, MA. This instrument operates under the legal entity Backed Assets (JE) Limited, which is regulated by the FMA Liechtenstein and the JFSC in Jersey. Holding MAX does not grant any shareholder rights, such as voting or direct dividend rights, nor does it confer title to the underlying shares; instead, holders gain economic exposure through a rebasing multiplier, subject to a 30% US withholding tax. Furthermore, this instrument is not available to residents of the US, UK, Canada, or Australia. The specific blockchain network on which MAX exists is not disclosed. It remains unclear how dividends and stock splits of the underlying asset are managed in relation to this tokenized security.

MAX data covers 6 venues. The available products determine which staking rates, withdrawal fees and funding rates appear. Sources include exchange APIs, protocols and aggregators. Scheduled collection: exchange staking every 10 minutes, funding every 10 minutes, fees and network availability every 30 minutes. On-chain yields follow their source schedule.