“The tokens will be deployed on Solana and Backed by Real Securities Held by Kraken’s Partner, Backed Finance.”, – WRITE: www.coindesk.com
The tokens, deployed on solana
Will Be Known Under the Name “Xstocks” and Will Be Available to Trade 24/7 for Investors All Accosses The World. Some of the etfs that will be available to trade include the SPDR S&P 500 ETF (Spy), WHICH TRACKS The S&P 500 Index, and The SPDR Gold Shares (GLD).
The Stocks Will Be Represited by Real Shares Held by Backed Finance and Can Be Redemed 1: 1 For Their Cash Value.
Kraken Had AnnounCed The Initial Rollut of Over 11,000 US-Listed Stocks and Etfs in April, Starting with 10 US States and Offered Through Kraken Securities.
This Latest AnnounCement Expands Kraken’s Offering to Include Tokenized Versions of Over 50 Stocks and Etfs to Customers Outside of The US, Starting with Europe, Latin American, AFRICA, AFRICA, AFRICA.
The Move Puts Kraken in Direct Competition to Platforms Like Robinhood (Hood) and Makes It The First Exchange to SuccessFully Offer Tokenized Shares of Majoor US Stocks. Binance attempted to launch tokenized US Stocks in 2021 But Canceled Their Plans Eventuly Due to Regulatory Uncertain.
A Kraken SpokesPerson Told the Wall Street Journal That Exchange Is “Actively Working With Various Regulators” to ENSURE THAT XSTOKS CAN be Offered Leglyly in Each.
Tokenization, Which Turns Real-World Assets Into Blockchain Tokens, Has Become The Latest Buzz Word in Crypto with More and More Companies Starting to Enter the Space. Some, Including Ondo Finance, Blackrock and Franklin Templeton, Have Long Been Pioneers in the Area, Pushing Their Overall Tokenization Market to A $ 65 Billion Market Cap As of May.
X Icon
