Kraken Brings Tokenized Stocks To BNB Chain

Kraken and Backed are expanding their tokenized equities product, xStocks, to BNB Chain as BEP-20 tokens, following their recent Solana launch.

The move allows eligible non-U.S. Kraken users to deposit and withdraw tokenized U.S. stocks like Apple, Tesla, and the S&P 500 ETF on BNB Chain, enabling 24/5 trading with onchain composability and global access.

Kraken views tokenized equities as a foundational upgrade to capital markets, while Backed aims to make xStocks the standard for tokenized equities integrated into DeFi.

BNB Chain was chosen for its low fees, high throughput, and large user base.

Source: The Block