Kraken has announced the launch of its tokenized equity product xStocks on the Ethereum mainnet, adding over 60 recognized stocks to the decentralized finance (DeFi) ecosystem.
xStocks Expansion to Ethereum
Kraken has introduced xStocks on Ethereum, featuring stocks from major companies like Apple, Tesla, and NVIDIA. This move is part of the company's multi-chain expansion strategy, resulting in the integration of xStocks into one of the largest blockchain platforms.
Benefits of Tokenized Stocks
Each xStock is backed one-to-one by physical security, ensuring real value retention. xStocks allow investors to access fractional ownership, continuous trading, and opportunities to use them in various DeFi protocols such as lending and yield farming.
Discussions with SEC
Kraken is in discussions with the SEC regarding tokenized trading, covering future infrastructure, regulatory requirements, and investor protections. These discussions align with the growing interest in tokenized assets.
With the introduction of xStocks on Ethereum, Kraken emphasizes its commitment to a multi-chain approach, opening new opportunities for bridging traditional stocks and blockchain technology.
