Kraken and Backed Extend xStocks to BNB Chain

On July 9, according to The Block, cryptocurrency exchange Kraken and tokenization infrastructure provider Backed announced today that they will expand the xStocks service from Solana to the BNB chain. This expansion will allow eligible non-US Kraken users to trade tokenized US stocks and ETFs, such as $AAPLx and $TSLAx, in the form of BEP-20 tokens. The 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 stated that tokenized stocks are not only a digital wrapper for traditional assets, but also a fundamental upgrade to the financial system, enabling atomic settlement, real-time global transfer, and composability with on-chain lending and other products. [Deep Tide TechFlow]