Kraken Announces Tokenized U.S. Stocks Launch Globally – Coincu

Kraken announced plans to launch over 50 tokenized U.S. stocks and ETFs, including Apple, Tesla, and Nvidia, across Europe, Latin America, Africa, and Asia.

The initiative marks a shift in cryptocurrency exchanges entering traditional finance with tokenized stocks, expanding global market access.

Kraken Partners with Backed Finance for Global Expansion

Kraken is partnering with Backed Finance, bringing over 50 tokenized stocks and ETFs outside U.S. borders. This initiative, led by Arjun Sethi, Co-CEO of Kraken, and using the Solana blockchain, aims at simpler global access to U.S. equities.

Reimagining equities investing provides transformative access to American stocks. The initiative addresses restrictions and eliminates brokerage fees, introducing cost-effective, decentralized finance solutions for global markets.

“We’re reimagining equities investing and ushering in a new wave of demand for better alternatives to the status quo. Access to traditional U.S. equities remains slow, costly and restricted. With xStocks, we’re using blockchain technology to deliver something better – open, instant, accessible and borderless exposure to some of America’s most iconic companies. This is what the future of investing looks like.”

– Mark Greenberg, Global Head of Consumer at Kraken

Tokenized Stocks to Revolutionize Global Market Dynamics

Did you know? Kraken’s move is part of a trend where exchanges compete by offering tokenization, reflecting a 58% increase in such initiatives over recent years.

Data from CoinMarketCap reports Solana’s price at $184.47, with a market cap of $95.96 billion, covering 2.72% of the market. Solana showed a 24-hour trading decrease of 5.18% at a volume of $5.25 billion.

The Coincu research team notes this tokenized stock offering will revolutionize market dynamics, offering global accessibility and blockchain integration previously unseen in traditional markets. Such technological advancements promise potential rapid adoption rates for decentralized finance solutions.