Kraken Expands Tokenized US Equities to BNB Chain Globally

Kraken, in partnership with Backed and BNB Chain, has expanded its xStocks product to enable global access to tokenized U.S. equities like AAPLx, TSLAx, NVDAx, and SPYx as BEP-20 tokens. This integration leverages BNB Chain's low fees, high throughput, and large user base, facilitating 24/7 trading and seamless use of tokenized stocks within decentralized finance (DeFi) applications such as PancakeSwap. The collaboration aims to create a multichain, chain-neutral financial ecosystem where tokenized equities serve as programmable assets, allowing instant, borderless trading and composability with lending, derivatives, and structured products. Kraken's co-CEO Arjun Sethi emphasized that tokenized equities represent a foundational upgrade to capital markets, expanding the reach beyond traditional exchanges and enabling real-time settlement and broader accessibility, particularly for non-U.S. users. Backed's co-founder Adam Levi highlighted that tokenized equities on BNB Chain could surpass stablecoins in scale and utility, advancing the democratization and transparency of global finance. This move reflects a broader industry trend towards blockchain-based stock trading, posing competitive challenges to legacy financial institutions and centralized exchanges.