Kraken and Backed deepen xStocks reach with BNB Chain integration
2025-07-09 12:57:35
Main Idea
xStocks and Backed announce a strategic partnership with BNB Chain to expand access to tokenized U.S. equities globally, deploying xStocks as BEP-20 tokens on BNB Chain.
Key Points
1. BNB Chain joins the xStocks Alliance, enabling tokenized U.S. equities (e.g., AAPLx, TSLAx, SPYx, NVDAx) to be deposited and withdrawn via BNB Chain.
2. Backed will deploy xStocks as BEP-20 tokens on BNB Chain, providing seamless access to tokenized U.S. stocks and ETFs.
3. BNB Chain was chosen for its high performance, low fees, and significant on-chain activity, with around $10 billion in TVL.
4. Kraken co-CEO Arjun Sethi highlights the future of capital markets as chain-neutral, composable, and multichain, with xStocks expanding global equity accessibility.
5. BNB Chain's Head of Business Development, Sarah S, emphasizes the importance of tokenizing real-world assets and the partnership's role in advancing this vision.
Description
In conjunction with xStocks partner Backed, we are excited to announce a strategic partnership with BNB Chain, one of the world’s leading blockchain ecosystems. Through this partnership, BNB Chain joins the rapidly growing xStocks Alliance, further accelerating onchain access to tokenized U.S. equities for users across the world. In the coming weeks, we will allow xStocks to be deposited and withdrawn from our platform by eligible clients via the BNB Chain. As part of the collaboration, Backed w...
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