Finances backed by crypto exchange Kraken and token asset issuers bring token stocks into BNB chain (BNB)The company said Wednesday it allowed trading with stocks such as Apple and Nvidia.
This move allows token versions of U.S. stocks (such as Apple) (AAPLX)Tesla (TSLAX) and S&P 500 ETF (spy) It will be issued as a BEP-20 token and users will be accessible in the BNB chain ecosystem. The development joins the Xstocks Alliance with BNB Chain, a communication and decentralized financial network (defi) A 60-stake agreement and Crypto Rails ETF tokens are provided.
Kraken said it will allow users to deposit and withdraw Xstocks tokens through the BNB chain in the next few weeks. Backed co-founder Adam Levi said in a press release that the goal is to integrate equity tokens more deeply into DEFI, allowing them to move across protocols and chains, or mail them on collateral for borrowing.
“This is always the beginning of the stock market, which is licensed, transparent and built for the internet,” Kraken co-CEO Arjun Sethi said in a statement. “These tools use programmable settlements to unlock atomic settlements, real-time global transferability, and synthetic behavior with chain lending, derivatives and structured products.”
Trading platforms are competing to bring stocks to the blockchain tracks because of traditional financial instruments or real-world assets
obtain steam. Supported Xstocks First appearance Last week on Kraken, Bybit and Solana (Sol) Defi platform, and Gemini and Robin Has traded with tokenized U.S. stocks.
The exchange said in a press release that crypto exchange Bitget also introduced Xstocks tokens on its trading platform on Wednesday.
Read more: Supported financial debut on Bybit, Kraken and Solana Defi agreements
