Kraken has taken a major step toward transforming global access to U.S. equities by partnering with Backed and the Solana Foundation to launch tokenized stocks on the Solana blockchain.
The initiative, revealed at the Solana Accelerate conference, will allow eligible Kraken users in select non-U.S. markets to gain onchain exposure to U.S.-listed stocks and ETFs—directly through the Kraken app.
Backed’s xStocks Go Live on Solana, Kraken as First Exchange Partner
At the heart of the rollout is xStocks, a new brand introduced by Backed to deliver tokenized equities to crypto platforms. Kraken has been named the first partner to offer xStocks to users, and chose Solana for its high throughput, low fees, and unmatched network performance. By leveraging Solana’s infrastructure, tokenized assets can be issued and traded globally with the speed and cost-efficiency needed for modern investors.
“These assets represent a critical step in reshaping how the world invests,” said Mark Greenberg, Kraken’s Global Head of Consumer. “We’re giving people fast, borderless access to traditional equities like never before.”
Composable Equities: A New Era of DeFi Meets Wall Street
According to Backed co-founder Adam Levi, the goal is to “bridge traditional finance and DeFi with infrastructure that enables 24/7, composable market access.” Kraken’s participation signals growing momentum in merging public blockchain technology with regulated financial products.
Solana Foundation’s Amelia Daly also praised the initiative, calling it “a powerful demonstration of how public chains can drive the future of permissionless finance.”
Kraken’s move follows its recent launch of stock and ETF trading for U.S. clients, and the company says it plans to expand tokenized equity offerings across Europe, Australia, and additional blockchains in the near future.
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Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/krakens-tokenized-stock-expansion-solana-to-power-global-u-s-equity-access/