Kraken to Launch 'xStocks', Tokenized U.S. Stocks Trading Service in Asia and Beyond

On the 22nd, cryptocurrency exchange Kraken announced its upcoming launch of the 'xStocks' tokenized stock trading service, developed in partnership with Backed. This service will enable trading of stocks and ETFs from over 55 leading U.S. companies such as Strategy, Apple, Tesla, Google, and Meta on the Solana blockchain. Excluding the United States, the service will target customers in Europe, Latin America, Africa, and Asia, and is expected to start within a few weeks. Integrated with Solana's DeFi applications, 'xStocks' will facilitate direct access to global markets without the need for traditional brokerage services. The service will also support collateral usage, borrowing, and more within the DeFi protocol...