let’s go @BackedFi 🫡
KRAKEN TO LAUNCH TOKENIZED U.S. STOCKS FOR GLOBAL USERS
Kraken, a U.S.-based crypto exchange, will soon let non-U.S. users trade tokenized versions of popular U.S. stocks like Apple, Tesla, and Nvidia. These digital tokens, called xStocks, will trade 24/7 on the Solana blockchain, offering global investors easier and cheaper access to U.S. equities.
Key Details:
🔸 Launching in Europe, Latin America, Africa, and Asia in the coming weeks.
🔸 Not available to U.S. users.
🔸 Over 50 stocks and ETFs will be tokenized, including SPY and SPDR Gold Shares.
🔸 Tokens will be backed by actual shares, held by Kraken’s partner Backed Finance, and redeemable for cash.
🔸 Tokens can be held in digital wallets or used as collateral for crypto trades.
Why Tokenize Stocks?
Kraken says this allows 24/7 trading and avoids high fees and delays typical of international brokerage systems. Investors may eventually trade xStocks on other crypto platforms.
14
6.42K
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.