- Kraken’s global tokenized stock platform targets non-U.S. investors.
- Led by co-CEO Arjun Sethi.
- Partners with Backed Finance for stock backing.
Kraken plans to launch tokenized versions of popular U.S. stocks on May 22, 2025, for international customers via Solana blockchain.
Kraken’s initiative allows international investors 24/7 access to U.S. stocks.
Kraken announced the rollout of xStocks, allowing non-U.S. customers to trade tokenized U.S. stocks like Apple and Tesla on the Solana blockchain. This initiative is seen as a transformative step towards integrating traditional and cryptocurrency markets.
“This initiative will allow international investors to trade tokenized versions of some of the biggest U.S. stocks on the Solana blockchain.” – Arjun Sethi, Co-CEO, Kraken
The project is spearheaded by Arjun Sethi, co-CEO of Kraken, and facilitated through their partner, Backed Finance, which will manage the securities. Kraken’s expansion into traditional finance via tokenization highlights its strategic ambitions.
The introduction of tokenized equities on Solana offers benefits for international markets, such as 24/7 trading and reduced transaction fees. This accessibility is expected to boost interest and activity within the Solana ecosystem, enhancing its role in financial markets.
The wide availability of tokenized securities could reshape investment landscapes, bridging the gap between traditional and cryptocurrency spaces. The potential for broader access to U.S. stocks may influence market dynamics and encourage more exchanges to consider similar offerings.
Tokenized stocks might face regulatory challenges and require technological advancements. Observing historical trends and existing market responses will be crucial in predicting outcomes. The success of Kraken’s move may depend on its adaptation to regulatory landscapes and integration with decentralized finance.
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