Kraken and Backed deepen xStocks reach with BNB Chain integration

In conjunction with xStocks spouse Backed, we are excited to denote a strategical concern with BNB Chain, 1 of the world’s starring blockchain ecosystems. Through this partnership, BNB Chain joins the rapidly increasing xStocks Alliance, further accelerating onchain entree to tokenized U.S. equities for users crossed the world.

In the coming weeks, we volition let xStocks to beryllium deposited and withdrawn from our level by eligible clients via the BNB Chain.

As portion of the collaboration, Backed volition deploy xStocks – the manufacture modular for tokenized equities – connected BNB Chain arsenic BEP-20 tokens, giving users seamless entree to tokenized representations of U.S.-listed stocks and ETFs.

This includes assets similar AAPLx, TSLAx, SPYx and NVDAx. By expanding to BNB Chain, xStocks continues its ngo to conscionable users wherever they are – bringing accepted equities onchain and opening entree for underserved markets astir the world.

BNB Chain was selected for the confederation owed to its precocious performance, debased transaction fees and its presumption arsenic 1 of the largest blockchain ecosystems by on-chain activity. With astir $10 billion successful TVL and 1 of the astir progressive Web3 idiosyncratic communities, it offers a beardown instauration for increasing tokenized plus adoption.

Together with Backed and BNB Chain, we stay committed to democratizing investing by enabling 24/7 vulnerability to U.S. markets – anytime, each implicit the world.

Arjun Sethi, Kraken co-CEO, said: “The effect to xStocks has made 1 happening progressively clear: The aboriginal of superior markets volition beryllium chain-neutral, composable and multichain by design,” said.

“Expanding to BNB Chain reinforces our halfway content that tokenized equities are not conscionable integer wrappers for accepted assets – they are a foundational upgrade to the fiscal strategy itself. These instruments behave arsenic programmable colony primitives, unlocking atomic settlement, real-time planetary transferability and composability with onchain lending, derivatives and structured products.”

“In a satellite that volition inevitably beryllium multichain, it is captious that assets similar equities tin determination fluidly crossed ecosystems, protocols, and liquidity layers without being gated by jurisdiction oregon bequest custodial rails. As much chains integrate xStocks, we are not conscionable expanding access. We are gathering the infrastructure to marque equities globally accessible, usable and interoperable for some retail and organization capital. This is the opening of an always-on equity market, 1 that is permissionless, transparent, and built for the internet.”

Adam Levi, co-founder of Backed, said: “xStocks are built arsenic a neutral, public-good plus class, and expanding to BNB Chain is simply a cardinal measurement toward making them the modular for tokenized equities. Our extremity is to bring accepted concern onto blockchain rails – not conscionable by improving access, but by enabling existent composability. Integrated into DeFi, tokenized equities volition surpass the standard and inferior of stablecoins. With BNB Chain’s planetary scope and heavy liquidity, it’s a earthy spouse for advancing that vision.”

Sarah S, Head of Business Development astatine BNB Chain, said: “Tokenizing real-world assets connected BNB Chain is simply a meaningful measurement successful making planetary concern much accessible and transparent. Our collaboration with Kraken and Backed reflects BNB Chain’s committedness to bringing high-quality fiscal instruments on-chain and connecting accepted markets with decentralized concern for users astir the world.”

BNB Chain’s summation marks different important milestone for xStocks, expanding the confederation to 1 of the world’s largest and astir progressive blockchain ecosystems. Recently, Kraken launched implicit 60 tokenized U.S. equities – deployed by Backed arsenic SPL-tokens connected Solana – for users crossed 185 countries. This strategical concern signals the adjacent signifier successful mainstreaming tokenized equities, cementing xStocks’ starring relation astatine the forefront of this rapidly evolving integer plus landscape.