Kraken announces the launch of the xStock platform on Solana to provide tokenized versions of U.S. stocks

According to reports from HashKey, Kraken announced on platform X that the cryptocurrency exchange has reached a new partnership with Backed to launch xStocks on the Solana blockchain. xStocks will offer tokenized versions of U.S. listed stocks, which will soon be available to eligible Kraken customers in certain non-U.S. markets. This is a new layer of market access built on cryptocurrency infrastructure, aimed at achieving cross-chain scalability. Previously, there were reports that Kraken plans to offer over 50 tokenized stocks and ETFs, including shares of Apple, Tesla, and Nvidia.