Kraken & Backed: Tokenized Equities on BNB Chain
Kraken and Backed Expand Tokenized U.S. Stocks to BNB Chain, Aiming for DeFi Integration
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Kraken and Backed are bringing tokenized U.S. equities to the BNB Chain, expanding access to American stocks and ETFs for a global audience and paving the way for deeper integration with decentralized finance (DeFi). The move,announced Wednesday,July 9th,builds on the initial rollout of xStocks on Kraken and signals a broader ambition to establish tokenized equities as a core component of the future financial system.
xStocks Alliance Expands Reach with BNB Chain Integration
The collaboration between Kraken and Backed, formalized in a May 22nd press release, aims to revolutionize access to traditional financial assets. Now, with BNB Chain joining the xStocks Alliance, eligible clients will soon be able to deposit and withdraw xStocks directly through the platform. This expansion leverages BNB Chain’s robust infrastructure and growing ecosystem to offer seamless access to tokenized representations of U.S.-listed stocks and exchange-traded funds (ETFs) as BEP-20 tokens.
Currently, Kraken offers access to 60 different tokenized assets, with plans for continued expansion. The initial rollout, which began in June, focuses on providing non-U.S. clients with the ability to invest in American stocks and ETFs – a market previously challenging to access for many international investors.
The Vision: Programmable Settlement and DeFi Composability
This isn’t simply about digitizing existing assets; it’s about unlocking new possibilities. According to Kraken Co-CEO Arjun Sethi, expanding to BNB Chain reinforces the belief that tokenized equities represent a “foundational upgrade to the financial system.”
“These instruments behave as programmable settlement primitives, unlocking atomic settlement, real-time global transferability and composability with onchain lending, derivatives and structured products,” Sethi stated. This means faster, more efficient, and more clear trading and settlement processes.
the potential for integration with DeFi protocols is a key driver behind this expansion. By bringing tokenized equities onto blockchain rails, Backed and Kraken envision a future where these assets can be seamlessly used in lending, borrowing, and othre DeFi applications.
Beyond access: Enabling True Composability
Backed Co-founder Adam Levi emphasizes the ambition to make xStocks “the standard for tokenized equities.” The company’s goal extends beyond simply improving access to traditional finance.
“Our goal is to bring traditional finance onto blockchain rails - not just by improving access, but by enabling true composability,” Levi explained. “Integrated into DeFi, tokenized equities will surpass the scale and utility of stablecoins.”
This vision positions tokenized equities as a powerful new asset class within the DeFi landscape, capable of driving innovation and unlocking new financial opportunities. Backed’s initial declaration highlighted a broader ambition: to make xStocks available on every chain and exchange.
A Global Opportunity
Kraken’s initial rollout of xStocks aims to reach over 185 countries, offering a significant opportunity for investors worldwide. By leveraging the speed and efficiency of blockchain technology, xStocks can overcome many of the traditional barriers to entry in the U.S. stock market.The expansion to BNB Chain is a crucial step in realizing this global vision,bringing tokenized equities closer to a wider audience and accelerating the adoption of this innovative financial technology. The future of finance may well be built on the foundation of tokenized, composable assets, and Kraken and Backed are positioning themselves at the forefront of this revolution.