Kraken plans to list tokenized actions of Nvidia, Apple, Tesla and more than 50 US actions and funds quoted in the stock market (ETF), reported the Wall Street Journal.
Tokens, deployed in Solana
It will be known with the name of “Xstocks” and will be available to trade 24/7 by investors worldwide. Some of the ETFs that will be available for trade include the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index and the Spdr Gold (GLD) actions.
The actions will be represented by real actions held by the financed finances and can be exchanged 1: 1 for their cash value.
Kraken had announced the initial deployment of more than 11,000 shares and ETF of the American list in April, starting with 10 US states and offered through Kraken Securities.
This last announcement expands Kraken’s offer to include tokenized versions of more than 50 shares and ETF to customers outside the United States, starting with Europe, Latin America, Africa and Asia.
The measure puts Kraken in direct competition to platforms such as Robinhood (Hood) and makes it the first exchange to successfully offer tokenized actions of the main US actions. Binance tried to launch US shares in 2021, but canceled his plans eventually due to regulatory uncertainty.
A Kraken spokesman told the Wall Street Journal that the exchange is “working actively with several regulators” to ensure that Xstocks can be legally offered in each jurisdiction as the regulation varies.
The tokenization, which converts real world assets into tokens blockchain, has become the last fashion word in cryptography with more and more companies that begin to enter space. Some, including Ondo Finance, Blackrock and Franklin Templeton, have been pioneers in the area, carrying their general marketing market for a market capitalization of $ 65 billion as of May.
