Kraken's tokenized US equities go live on Solana for global users

Key Points

  • Kraken has launched tokenized U.S. equities for eligible non-U.S. users, using Backed's xStocks on the Solana blockchain.
  • The initiative offers 60 tokenized assets, including top U.S. stocks and ETFs, available for 24/7 trading via the Kraken app.
  • Tokenized equities provide flexibility beyond traditional markets, allowing withdrawals to self-custodial wallets and use as collateral in DeFi.
  • Kraken and Backed plan to expand to other fast blockchains, aiming to reform access to capital markets globally.
  • This move is seen as a step toward merging traditional finance with decentralized economies, enhancing access and efficiency.

Summary

Kraken has introduced a groundbreaking initiative by rolling out tokenized U.S. equities for non-U.S. users on the Solana blockchain, in partnership with Backed's xStocks. This phased launch includes 60 tokenized assets, such as prominent U.S. stocks and ETFs, accessible for 24/7 trading through the Kraken app. Beyond mere market exposure, these tokens offer unique flexibility, enabling users to withdraw them to self-custodial wallets, use them as collateral in DeFi, and trade continuously. Kraken co-CEO Arjun Sethi emphasized the initiative’s goal of empowering individuals by removing geographical and institutional barriers to financial markets. Backed co-founder Adam Levi highlighted tokenized equities as a pivotal evolution in crypto, bridging traditional finance with decentralized systems for greater access and efficiency. With plans to expand to other fast blockchains, Kraken and Backed aim to redefine global capital market access, making it non-permissioned and self-custodial. This development, first reported by TheStreet on July 1, 2025, marks a significant step toward democratizing financial opportunities worldwide.

yahoo
July 2, 2025
Crypto
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