BNB Chain has entered into a partnership with tokenization firm xStacks to issue and trade tokenized versions of major U.S. equities as BEP-20 tokens. Stocks like Apple and Tesla will be represented as AAPLx and TSLAx, leveraging the chain’s Ethereum Virtual Machine (EVM) compatibility for decentralized trading.
This initiative aims to broaden global investor access to U.S. stock markets, particularly benefiting users located outside the United States. The tokenized stocks will become accessible through established platforms including crypto exchange Kraken and tokenization specialist Backed.
Market reaction to the announcement was swiftly positive, with BNB’s trading volume experiencing a 9% surge over 24 hours, signaling increased investor interest in the token. The tokenized equity launch follows a similar recent rollout by the Solana ecosystem, positioning BNB Chain competitively in the rapidly expanding tokenized assets market with the potential to enhance its Total Value Locked (TVL).
This collaboration underscores the accelerating convergence between traditional finance and decentralized finance (DeFi). It paves the way for potential new tokenized asset innovations and highlights upcoming regulatory considerations within the sector.