Kraken plans to extend its offerings to non-US customers by allowing them to trade tokenized US stocks. This initiative is part of Kraken's strategy to provide more traditional assets through tokenization and is a collaboration with Backed, which will facilitate the product on the Solana blockchain. According to Kraken co-CEO Arjun Sethi, the blockchain's performance and ecosystem advantages influenced this decision. This move suggests that Kraken aims to compete not just with crypto exchanges like Coinbase, but also with larger brokerage firms such as Robinhood. The rise of real-world asset (RWA) tokenization has been significant, with the market cap growing substantially in recent months. Kraken's past attempts at expanding its services, like its earlier restrictions on US clients in several states, reflect the ongoing evolution of the company's strategy. The increasing interest in tokenized stocks indicates a broader trend toward democratizing investment opportunities and enhancing accessibility for retail investors in the financial markets.

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