Deep Tide TechFlow News, on July 9, according to The Block, cryptocurrency exchange Kraken and tokenized infrastructure provider Backed today announced that they will expand the xStocks service from Solana to the BNB chain. This expansion will allow eligible non-U.S. Kraken users to trade tokenized U.S. stocks and ETFs in the form of BEP-20 tokens, such as AAPLx, TSLAx, and others.
The BNB chain was chosen as the expansion platform due to its high transaction throughput, low fees, and approximately $10 billion in locked value. Kraken co-CEO Arjun Sethi stated that tokenized stocks are not just a digital packaging of traditional assets but a fundamental upgrade to the financial system, enabling atomic settlement, real-time global transfer, and interoperability with on-chain lending products.
