Kraken is one of the largest crypto exchanges in the world.
Tiffany Hagler Geard | Bloomberg via Getty Images
Kraken is a crypto exchange that the US Securities and Exchange Commission has spent years fighting courts over the provision of digital assets, and is preparing to provide tokenized securities that include stocks in it. apple, Teslaand nvidiato non-US customers, according to Thursday’s release.
The exchange partners with Backd, a company specializing in blockchain-based financial assets, to offer over 50 US stocks and ETFs as Solana Blockchain tokens.
The product, called Xstocks, is available only to non-US users and trades 24/7. Bitcoinallowing 24-hour access to traditional stocks in a form of crypto origin, the release said.
Kraken did not immediately respond to requests for comment.
Kaken already has a traditional stock trading platform for US customers, offering over 11,000 shares and ETFs through the traditional brokerage model.
Previously launched in the US Coinbaseremains a private company.
The SEC under President Donald Trump has repeated almost every crypto-related lawsuit, including accusations of fraud that have been brought against Kraken.
Binance made a short-lived attempt to tokenize the stock in 2021 before pulling the plug after regulators were pushed back.
But together with US lawmakers and the Trump administration, they are now warming up to crypto infrastructure. Robin Hood and Black Rock Openly exploring the tokenization of assets – Kraken takes that shot.
Source link
