- Launch of 50+ tokenized stocks by Kraken on Solana.
- New trading avenue outside U.S. borders.
- 24/7 trading potential for global investors.
Kraken’s new offering, named xStocks, aims to transform traditional stock market access by allowing global investors 24/7 trading of tokenized assets.
Kraken Partners with Backed Finance
Kraken partnered with Backed Finance to enable this initiative by custodying physical stocks and issuing tokenized versions. The Solana Foundation provides the blockchain infrastructure crucial for this launch.
International investors gain access to iconic American companies through tokenized trading, promising lower fees and flexible market hours. The Solana blockchain’s performance supports this innovation, emphasizing low latency and extensive reach.
“We’re reimagining equities investing and ushering in a new wave of demand from clients seeking better alternatives to the status quo. Access to traditional U.S. equities remains slow, costly, and restricted. With xStocks, we’re using blockchain technology to deliver something better – open, instant, accessible, and borderless exposure to some of America’s most iconic companies. This is what the future of investing looks like.” – Mark Greenberg, Global Head of Consumer, Kraken BusinessWire
Financial and regulatory landscapes will experience shifts as Kraken expands stock offerings. Compliance is crucial for longevity and market trust amidst high regulatory standards.
Expected outcomes include increased international investment in U.S. equities and advancement in blockchain-based trading frameworks, fostering integration between traditional and digital financial systems.
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