Cryptocurrency exchange Kraken has partnered with asset tokenization firm Backed to launch tokenized U.S. stocks on Binance Chain.
Major U.S. equities, including Tesla (TSLA), Apple (AAPL), Nvidia (NVDA), and the SPDR S&P 500 ETF (SPY), are being deployed as BEP-20 tokens.
This initiative aims to bridge the gap between decentralized finance (DeFi) and traditional markets by enabling the on-chain trading of tokenized stocks.
Leveraging Binance Chain’s infrastructure, traders gain access to decentralized liquidity provision while benefiting from multichain interoperability for these digital assets.
Kraken has indicated this move responds to growing institutional demand and signals a shift towards integrating tokenized traditional assets within a multichain capital market environment.
The deployment is expected to enhance flexibility, efficiency, and financial innovation within the BNB network ecosystem.