- Kraken and Backed introduce xStocks on BNB Chain
- US stocks now available as BEP20 tokens
- Aimed at expanding DeFi access to traditional equities
Kraken and Backed are making headlines with the launch of xStocks on the BNB Chain, marking a bold move toward merging traditional finance with decentralized finance (DeFi). This collaboration introduces tokenized US stocks as BEP20 tokens, opening up new opportunities for global crypto users to access U.S. equity markets.
By launching on the BNB Chain, Kraken and Backed are leveraging its speed and low fees to make traditional assets more accessible, transparent, and tradable around the clock. With xStocks, users can buy, hold, and trade tokenized versions of popular U.S. stocks like Apple, Tesla, or Microsoft—just like any other crypto asset.
How xStocks Work on BNB Chain
Each xStock is backed 1:1 by the actual U.S. stock it represents and issued as a BEP20 token. These tokens are available to trade 24/7, offering more flexibility than traditional stock markets.
Backed takes care of the custody and regulation side, ensuring each token corresponds directly to a real stock held in trust. Kraken, on the other hand, provides a trusted platform for trading and liquidity. The result is a frictionless experience where users gain exposure to U.S. equities without dealing with legacy systems or intermediaries.
Why It Matters for Crypto and DeFi
This move by Kraken and Backed blurs the lines between traditional and decentralized finance. Tokenized US stocks lower the barrier for retail investors globally, especially in regions where direct access to the U.S. stock market is limited.
Moreover, integrating tokenized equities with DeFi platforms unlocks the potential for use cases like lending, borrowing, or staking using stocks as collateral—an idea that would be unthinkable in traditional finance.
With xStocks on BNB Chain, the path to financial inclusivity and innovation becomes clearer.
Read Also :
- OmniPact Secures $50 Million to Advance Trust Infrastructure
- Bitcoin March Green: Market Turns Positive
- Rune Oil Long Bet Shocks Crypto Market
- 12 Million Dollar Narrative Coins Dominating Investor Watchlists With APEMARS Presale Pushing Beyond $281K
- Jane Street Bitcoin Transfer Raises Market Eyes
