Kraken and Backed Expand Tokenized Stocks to BNB Chain as RWA Momentum Accelerates
2025-07-09 13:35:42
Main Idea
Kraken and Backed Finance are expanding tokenized stocks to BNB Chain, enabling around-the-clock trading of tokenized equities like Apple and Nvidia on the network.
Key Points
1. Tokenized versions of U.S. stocks such as Apple (AAPLx), Tesla (TSLAx), and S&P 500 ETF (SPYx) will be issued as BEP-20 tokens on BNB Chain.
2. The initiative aims to integrate equity tokens as collateral for borrowing, enhancing their utility in DeFi protocols.
3. Backed's xStocks recently debuted on Kraken, Bybit, and Solana-based DeFi platforms, with other exchanges like Gemini and Robinhood also introducing similar offerings.
4. The move is part of a broader trend toward tokenizing real-world assets (RWAs) and making them accessible on blockchain networks.
5. BNB Chain's ecosystem will support trading with 60 equity and ETF tokens, expanding accessibility for users.
Description
Crypto exchange Kraken and tokenized asset issuer Backed Finance are bringing tokenized equities to the BNB Chain (BNB), allowing trading with stocks like Apple and Nvidia around-the-clock on the network, the firms said on Wednesday. The move allows token versions of U.S. stocks such as Apple (AAPLx), Tesla (TSLAx) and S&P 500 ETF (SPYx) to be issued as BEP-20 tokens and accessible to users across BNB Chain’s ecosystem. The development comes with BNB Chain joining the xStocks Alliance, a network...
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