Blockchain platform Backed Finance has announced the launch of tokenized stocks, xStocks, allowing users to access over 60 traditional stocks through crypto exchanges and DeFi protocols.
What Are Tokenized Stocks?
Tokenized stocks are digital versions of traditional stocks that can be traded on blockchain platforms. XStocks offers users exposure to stocks of well-known companies such as Netflix, Meta, Robinhood, Coinbase, Amazon, among others.
Where to Trade Tokenized Stocks?
Tokenized stocks xStocks are now available on cryptocurrency exchanges like Kraken and Bybit, as well as on several Solana-based DeFi protocols such as Kamino, Raydium, and Jupyter. Users will be able to trade stocks 24/7 without commissions.
Benefits of Tokenized Stocks
Tokenized stocks offer several advantages, including faster transactions and the ability to freely exchange assets. Support for DeFi protocols allows tokens to be used for providing liquidity and trading.
The launch of xStocks tokenized stocks on exchanges and DeFi protocols opens new opportunities for traders and investors, providing modern tools for trading traditional assets.
