Kraken and Backed Finance have expanded their tokenized stock product xStocks by integrating it into the TRON blockchain. This move aims to simplify and reduce costs for users accessing global markets.
Launch of xStocks on TRON Blockchain
With support from TRON DAO, Kraken and Backed Finance have launched xStocks on the TRON blockchain, extending their offerings for tokenized stocks. Users can now easily deposit and withdraw xStocks via TRON, providing a seamless experience similar to stablecoin transfers.
Benefits of TRON for Tokenized Stocks
TRON's blockchain, known for its low fees and rapid transaction processing, is well-suited for asset tokenization. Justin Sun, the founder of TRON, emphasized that tokenized equities represent a natural evolution for crypto, bridging traditional markets with blockchain.
Global Opportunities for Kraken
The integration of TRON by Kraken is part of a broader goal to re-platform Wall Street on the blockchain. Kraken already serves clients in over 140 countries and plans to continue expanding access to tokenized stocks.
The expansion of xStocks onto the TRON blockchain opens new horizons for users, providing more efficient access to tokenized stocks and integrating traditional finance with innovative technologies.
