KRAKEN TO LAUNCH TOKENIZED U.S. STOCKS FOR GLOBAL USERS
Kraken, a U.S.-based crypto exchange, will soon let non-U.S. users trade tokenized versions of popular U.S. stocks like Apple, Tesla, and Nvidia. These digital tokens, called xStocks, will trade 24/7 on the Solana blockchain, offering global investors easier and cheaper access to U.S. equities.Key Details:🔸 Launching in Europe, Latin America, Africa, and Asia in the coming weeks.🔸 Not available to U.S. users.🔸 Over 50 stocks and ETFs will be tokenized, including SPY and SPDR Gold Shares.🔸 Tokens will be backed by actual shares, held by Kraken’s partner Backed Finance, and redeemable for cash.🔸 Tokens can be held in digital wallets or used as collateral for crypto trades.Why Tokenize Stocks?Kraken says this allows 24/7 trading and avoids high fees and delays typical of international brokerage systems. Investors may eventually trade xStocks on other crypto platforms.The copyright of this article belongs to the original author/organization.
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