TechFlow, July 9 — According to The Block, cryptocurrency exchange Kraken and tokenized infrastructure provider Backed announced today that they will expand their xStocks service from Solana to the BNB Chain. This expansion will allow eligible non-U.S. Kraken users to trade tokenized U.S. stocks and ETFs such as AAPLx and TSLAx in BEP-20 token form.
BNB Chain was selected as the expansion platform due to its high transaction throughput, low fees, and approximately $10 billion in locked value. Kraken co-CEO Arjun Sethi said tokenized stocks are not merely digital wrappers of traditional assets, but a fundamental upgrade to the financial system, enabling atomic settlement, real-time global transfers, and composability with on-chain products such as lending protocols.
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