Kraken and Backed Bring Tokenized Stocks to BNB Chain as Market Momentum Grows
The introduction of xStocks on BNB Chain follows their recent launch on various Solana DeFi platforms, enabling around-the-clock trading for stocks like Apple and Nvidia.
Key Updates:
- Kraken and Backed Finance have unveiled their plans to offer tokenized stocks on the BNB Chain, thus allowing for 24/7 trading of popular stocks like Apple and Nvidia.
- This initiative enables the tokenization of widely-traded U.S. stocks, allowing them to be issued as BEP-20 tokens and available within the BNB Chain ecosystem.
- The xStocks Alliance, which BNB Chain has joined, facilitates trading of 60 equity and ETF tokens, marking a significant step into decentralized finance (DeFi).
Kraken
In the coming weeks, users will have the ability to deposit and withdraw xStocks tokens via the BNB Chain, aiming to deepen the integration of equity tokens into DeFi, making them transferable across platforms or usable as collateral.
“This is the beginning of an always-on equity market — one that is permissionless, transparent, and built for the internet,” said Arjun Sethi, co-CEO of Kraken.
Translation: “Esto es el comienzo de un mercado de acciones siempre activo — uno que es sin permisos, transparente y construido para Internet.”
With an increasing number of trading platforms seeking to integrate equities onto blockchain networks, this market segment continues gaining traction. Recently, platforms such as Robinhood, Gemini, and Bybit have initiated similar stock token offerings.
