Kraken Unleashes xStocks on BNB Chain 🚀

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  • The unholy matrimony of Kraken and Backed has spawned a new offspring – xStocks on BNB Chain, because who needs Solana anymore? 🤷‍♂️
  • Tokenized Apple and Tesla shares are now within reach of the unwashed masses, because who doesn’t want a piece of Elon’s electric dreams? 🚀
  • Kraken’s grand vision: an always-on, multi-chain stock market where the plebeians can indulge in DeFi delights 24/7. 🕒

Kraken, that behemoth of crypto exchanges, has announced a partnership with Backed and BNB Chain, because why not? This merry trio aims to bring traditional stocks onto the blockchain, and by traditional, we mean tokenized versions of Apple, Tesla, Nvidia, and the S&P 500 index. The tokens, christened AAPLx, NVDAx, TSLAx, and SPYx, will soon be available on BNB Chain as BEP-20 tokens, because who needs Solana anymore? 🤷‍♂️

Kraken and Backed: Bringing U.S. Equities to the Blockchain Masses

xStocks, the brainchild of Kraken and Backed, allows individuals to purchase and own tokenized versions of live U.S. stocks and ETFs. Because who doesn’t want to own a piece of America? 🇺🇸 These tokenized stocks will soon be available on BNB Chain, which boasts a whopping 10 billion dollars in total value locked and one of the most active Web3 communities. Not too shabby, if we do say so ourselves. 🤑

BNB Chain was chosen for its low fees, high transaction speed, and massive global community. Because who doesn’t love a good bargain? 🛍️ Kraken users will soon be able to deposit and withdraw xStocks with BNB Chain, making it easier for the unwashed masses to own and trade U.S. stocks 24/7. 🕒

Backed Co-Founder Sees Tokenized Equities as the Future of Finance

Kraken co-CEO Arjun Sethi waxed poetic about the future of finance, saying that capital markets will operate on multiple blockchains and not be fixated on just one. Tokenized stocks, he claims, are not just digital copies of real shares, but a gateway to a brave new world of DeFi delights. 🌐

Adam Levi, the Backed co-founder, concurred, saying that the extension of xStocks to BNB Chain is a significant move towards normalizing tokenized equities for all. He’s confident that tokenized stocks will be more helpful than stablecoins, because who needs stability when you can have volatility? 🤪

Sarah S, the Head of Business Development at BNB Chain, chimed in, saying that this project will contribute to the openness and fairness of finance. By securing assets like stocks on the blockchain, anyone can invest in what was once available to a select few. Because who doesn’t love a good underdog story? 🐕

Kraken has recently introduced over 60 tokenized U.S. stocks on its Backed on Solana platform, which are already accessible in 185 countries. The inclusion of BNB Chain will now increase the number of individuals in the xStocks Alliance, because who doesn’t want to join a cool kids’ club? 🤝

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2025-07-10 01:29