Kraken is set to offer tokenized shares of Nvidia, Apple, Tesla, and more than 50 other U.S. stocks and ETFs, marking a significant expansion in its trading offerings. The new offerings, referred to as xStocks, will be built on the Solana blockchain and can be traded globally 24/7. These tokens represent actual shares held by Kraken's partner, Backed Finance, and are redeemable on a one-to-one basis for cash. This initiative positions Kraken as the first exchange to successfully launch tokenized U.S. equities, following a failed attempt by Binance in 2021 due to regulatory concerns. Besides major tech stocks, ETFs like SPDR S&P 500 ETF (SPY) and SPDR Gold Shares (GLD) will also be available to trade. Kraken's expansion is particularly targeted at customers in regions beyond the U.S., including Europe, Latin America, Africa, and Asia. In collaboration with regulators, Kraken is working to ensure that this service complies with the relevant legal frameworks across different jurisdictions.

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