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Kraken and Backed Expand xStocks Access Through BNB Chain

2025-07-09 14:40:42

Kraken and Backed Expand xStocks Access Through BNB Chain

Main Idea

Kraken and Backed have partnered with BNB Chain to expand access to tokenized U.S. equities (xStocks) on the BNB Chain, enhancing multichain financial infrastructure.

Key Points

1. Kraken and Backed partnered with BNB Chain to deploy xStocks (tokenized U.S. equities like AAPLx and TSLAx) as BEP-20 tokens, enabling on-chain access.

2. BNB Chain's Maxwell upgrade reduced block times to 0.75 seconds, positioning it as the fastest major blockchain with low transaction fees.

3. Kraken's co-CEO Arjun Sethi emphasized that tokenized equities are programmable and compatible with DeFi, calling them a 'foundational upgrade to the financial system.'

4. Backed's co-founder Adam Levi stated that integrating with BNB Chain aligns with the vision of xStocks as a neutral, composable asset class for DeFi tools.

5. Kraken also launched a peer-to-peer payments app called Krak in June, designed for global payments with lower fees than its trading platform.

Description

Crypto exchange Kraken and tokenization platform Backed have announced a new partnership with BNB Chain to expand the reach of xStocks — tokenized versions of U.S. equities. xStocks are coming to @BNBCHAIN . Tokenized equities, now multichain https://t.co/mMmSItIPNq — Kraken Exchange (@krakenfx) July 9, 2025 In a blog post, Kraken explains this latest move allows on-chain access to traditional financial instruments and brings real-world assets into the decentralized finance (DeFi) ecosystem. BNB...

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