Kraken, Backed Expand Tokenized Stocks on BNB Chain

Kraken and Backed are collaborating to make tokenized U.S. stocks available on BNB Chain. The move features tokenized equities like AAPLx, TSLAx, and NVDAx as BEP-20 tokens. This development aligns with Kraken’s vision for chain-neutral and composable capital markets.

Non-U.S. Kraken users will gain broader access to tokenized stocks, enhancing composability within the decentralized finance (DeFi) ecosystem. Backed’s infrastructure aims to position tokenized equities as a public-good asset, which according to Adam Levi, Co-founder, Backed, could potentially rival stablecoins in DeFi utility.

Market reactions reflect strong community interest

Kraken’s Arjun Sethi highlighted,

“The future of capital markets will be chain-neutral, composable and multichain by design.”

Kraken’s Arjun Sethi highlighted,

“The future of capital markets will be chain-neutral, composable and multichain by design.”

BNB Price Trends Amid Tokenized Equity Launch

Did you know? Tokenized stocks on Solana had prior success with over 60 equities available to users in 185 countries, showcasing historical demand for integrated digital and traditional finance.

Currently, BNB is trading at $667.21 with a market cap of $93.99 billion and a 24-hour volume of $1.62 billion. The price has increased 1.38% in 24 hours and holds a 2.72% market dominance, reflecting stability. Data Source: CoinMarketCap

Expert insights from Coincu research indicate that BNB Chain’s integration of tokenized U.S. equities could reshape DeFi engagement. Historical precedents suggest challenges around regulation and integration remain critical for sustained growth.