Kraken to Offer Tokenized Stocks of Apple, Tesla, and Nvidia

Kraken's partnership with Backed to offer xStocks represents a significant step in democratizing access to equities on a global scale. By tokenizing U.S.-listed stocks and ETFs on the Solana blockchain, Kraken aims to address the limitations of traditional finance, such as limited hours, high fees, and accessibility barriers. This initiative follows Kraken's recent rollout of equities trading for U.S. clients, demonstrating a broader strategy to integrate TradFi and crypto. The xStocks assets can be traded on the Kraken platform and onchain through compatible wallet providers, allowing users to leverage their xStocks as collateral.

Binance previously attempted tokenizing equities in 2021 but stopped due to regulatory pushback. Kraken is now taking its shot as U.S. lawmakers and the Trump administration warm up to crypto infrastructure.

xStocks are tokenized versions of popular U.S.-listed stocks and ETFs offered by Kraken in partnership with Backed.

xStocks are available to Kraken clients in select non-U.S. markets.

xStocks are issued as SPL tokens on the Solana blockchain.

No, xStocks are not available in the U.S.A.

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