The San Francisco-based crypto exchange brings tokenized versions of popular American listed shares and exhibition-related funds (ETF) to its customers in selected non-American markets.
In a statement, crack out It collaborated with the Tokenized and ETF -Mittent supported to launch Xstocks on the Solana (SOL) blockchain.
Xstocks, a tokenized stock mark developed by Backed, taps blockchain technology to offer tokenized versions of US shares.
Says Kraken Global Head of Consumer Mark Greenberg,
‘Access to traditional US shares remains slow, expensive and limited. With Xstocks we use blockchain technology to deliver something better – open, immediate, accessible and grenzo exposure to some of the most iconic companies in America. This is what the future of investing looks like. ”
Kraken says that Xstocks assets will be issued as SPL -Tokens, the standard token format on the Solana Blockchain, and will be available for eligible customers via the app.
“These Xstocks assets can be traded on our platform and on Onchain via compatible wallet providers, so that users can use their Xstocks as collateral in ways that is simply not possible via Tradfi.”
Crack out Solana is selected as the launch chain for Xstocks because of the performance of the blockchain, low latency and flourishing worldwide ecosystem.
The exchange says that it is planning to expand the reach of Tokenized Activa and the areas of law where Xstocks is supported.
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Generated image: midjourney