Kraken is set to offer tokenized US-listed stocks and ETFs to non-US investors as part of its strategy to connect traditional finance (TradFi) with cryptocurrency. Developed by Backed, these tokenized stocks, known as xStocks, will be backed 1:1 by actual shares on the Solana blockchain, offering advantages like 24/7 trading and fast settlement. Initial offerings will include popular stocks like Apple, Tesla, and Nvidia, along with major ETFs like the SPDR Gold Trust. As demand for tokenized assets grows, industry experts believe that tokenized public stocks could serve as an accessible entry point for investors entering the blockchain space. Dinari, another player in this field, aims to bring the entire stock market onto the blockchain and is focused on creating a pooled on-chain secondary market for tokenized assets. This reflects a broader trend, as many anticipate significant growth in stablecoin usage and the tokenization of financial assets, potentially revolutionizing investment practices and accessibility in financial markets.

Source 🔗