Kraken's Big Move: Bringing Tokenized Stocks to the Masses

Kraken, a major crypto exchange, just bought Backed Finance. This company makes xStocks, which turns regular stocks into digital tokens. Kraken wants to make these tokenized stocks even more popular. They plan to add xStocks to their global money app. This will make it easier for people to buy, sell, and hold tokenized stocks. Kraken also wants to support more blockchains and markets. xStocks already has over 60 tokenized products. Since it started this year, it has seen more than $10 billion in trading volume. These tokenized assets are on Solana and Ethereum blockchains. They can be traded 24/7 and used across different networks. This isn't Kraken's first big move this year. They've also bought NinjaTrader, Breakout, and Small Exchange. Kraken even filed for an IPO in the US. Tokenized stocks are becoming a big deal. In June, xStocks launched on Bybit, Kraken, and several Solana-based DeFi platforms. Robinhood also started offering tokenized stock trading for European users. According to Dune Analytics, Robinhood has 943 tokenized stocks and ETFs. The total value of these tokens is about $10. 8 million. RWA. xyz tracks about $656 million in regulated tokenized public stocks. The monthly transfer volume is around $1. 14 billion. Kraken's acquisition of Backed Finance is a big step. It shows that tokenized stocks are here to stay. This could make investing in stocks more accessible to everyone.