KEY TAKEAWAYS
- Kraken introduces xStocks, a tokenized equities brand, to offer access to U.S.-listed stocks and ETFs in select non-U.S. markets.
- xStocks will be issued as SPL tokens on the Solana blockchain, enabling both platform and on-chain trading.
- This initiative is part of Kraken’s strategy to bridge traditional finance and cryptocurrency, aiming to provide open, instant, and accessible equity investments.
- Kraken plans to expand xStocks to the U.K., Europe, and Australia, democratizing global access to equities.
Kraken, a leading cryptocurrency exchange, has announced plans to introduce xStocks, a new tokenized equities brand developed by Backed. This initiative aims to offer clients in select non-U.S. markets access to popular U.S.-listed stocks and ETFs. The xStocks will be issued as SPL tokens on the Solana blockchain, allowing for both platform and on-chain trading through compatible wallet providers.
The introduction of xStocks is part of Kraken’s broader strategy to bridge traditional finance (TradFi) and cryptocurrency. The company aims to address the limitations of global markets, which often operate with restricted hours, high fees, and significant barriers to entry. By leveraging blockchain technology, Kraken seeks to provide a more open, instant, and accessible way to invest in equities.
Mark Greenberg, Kraken’s Global Head of Consumer, stated, “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 move follows Kraken’s recent rollout of equities trading for U.S. clients, which provides access to over 11,000 U.S.-listed stocks and ETFs directly within the Kraken app.
Kraken plans to expand the availability of xStocks to clients in the U.K., Europe, and Australia, with the goal of democratizing access to equities on a global scale. The company intends to steadily increase both the range of tokenized assets and the jurisdictions where xStocks are available, unlocking new opportunities for investors worldwide.
For more information, visit the official announcement here.
Why This Matters: Impact, Industry Trends & Expert Insights
Kraken’s introduction of xStocks, a new tokenized equities brand, aims to provide global access to U.S.-listed stocks and ETFs via blockchain technology, bridging traditional finance and cryptocurrency.
According to a report by Bookmap, tokenized equities are experiencing significant growth, driven by technological advancements and increasing institutional participation. This aligns with Kraken’s strategy to democratize access to equities and enhance market accessibility through blockchain.
A CoinTribune report highlights expert opinions suggesting that tokenized stocks could surpass a $1 trillion market capitalization, driven by institutional interest and market accessibility. This supports Kraken’s initiative to expand tokenized equities, offering broader investment opportunities globally.
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