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Kraken Expands xStocks to BNB Chain, Amid Tokenized Asset Boom
In a significant move, Kraken has announced the expansion of its xStocks initiative to BNB Chain, further solidifying its commitment to democratizing financial markets and providing users with an unparalleled experience. This strategic decision is a direct response to the growing demand for unrestricted, multichain onchain financial markets.
As part of this collaboration, Kraken will now enable trading of tokenized stocks as BEP-20 tokens, effectively expanding its xStocks project. The integration covers an array of popular assets, including AAPL, TSLA, SPY, and NVDA, catering to the ever-growing global interest in unrestricted multichain onchain financial markets.
The choice of BNB Chain is particularly noteworthy, as it boasts a low-fee, high-processing-capacity infrastructure. Furthermore, the platform has an active Web3 community with $10 billion in Total Value Locked (TVL) and strong DeFi adoption.
By expanding its xStocks project to BNB Chain, Kraken aims to offer non-U.S. users the ability to deposit and withdraw these assets through both BNB Chain and Solana. This move will significantly increase accessibility for all traders worldwide, enabling seamless interaction with a wide range of tokenized U.S. stocks on blockchain.
The inclusion of assets like AAPLx, TSLAx, SPYx, and NVDAx – tokenized versions of popular stocks and ETFs already listed in traditional markets – provides users with the tools necessary to achieve their financial objectives.
Source: crypto-economy.com
