The Kraken team is combining traditional (TradFi) with decentralized (DeFi). The company will launch tokenized stocks on the Solana blockchain under the xStocks brand, developed by Backed.
Soon, users from many countries will be able to access popular American stocks and ETFs represented as SPL tokens. These assets will be available for trading both directly on the Kraken platform and through compatible crypto wallets. Investors will be able to use xStocks as collateral in the DeFi environment, which is not possible in the traditional financial system.
xStocks will include stocks and ETFs of the 50 largest companies, including Nvidia, Apple, and Tesla.
Previously, the company has already enabled US users to buy more than 11,000 stocks and ETFs directly through the Kraken app.
The day before, Bybit opens trading in shares of 78 companies, and JPMorgan allows customers to buy BTC.
Source: Kraken
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