Kraken proudly unveils the latest advancement in the global reach of xStocks, the leading standard for tokenized equities. Teaming up with Backed, Kraken is joining forces with the TRON DAO to incorporate xStocks into the TRON blockchain, unlocking fresh opportunities for exposure to tokenized equities within one of the world’s most vibrant and scalable blockchain ecosystems. The TRON network, known for its high transaction speeds, low fees, and global presence, aligns seamlessly with the evolution of xStocks. In the near future, eligible Kraken users will gain the ability to deposit and withdraw xStocks directly through the TRON network, enhancing accessibility and flexibility for traders and investors worldwide. Through a collaboration with Backed, xStocks will be deployed on TRON as TRC-20 tokens, ensuring a full 1:1 backing for each tokenized asset listed on Kraken. The TRON DAO will work closely with ecosystem partners to facilitate a broader integration of xStocks, enabling tokenized equities to reach a wider audience and a network of builders and users. Kraken’s co-CEO, Arjun Sethi, emphasized the significance of expanding xStocks to three blockchains within a short timeframe, showcasing the advantages of an open design approach. TRON’s efficiency, low costs, and global outreach make it a valuable addition to Kraken’s multi-chain framework for tokenized equities. The goal is to create a trading environment where equities operate akin to the internet – permissionless, borderless, and interoperable. Justin Sun, TRON’s Founder, highlighted how the collaboration with Kraken signifies a shift towards a more transparent and accessible environment for tokenized equities, bridging traditional markets with blockchain technology. Adam Levi, Co-Founder of Backed, noted that the expansion of xStocks to TRON aligns with TRON’s strength in stablecoin transfers, now extending to tokenized equities. Extending support for xStocks to the TRON blockchain aligns with the mission to bring traditional equities onto the blockchain, providing global communities with access to capital markets. Currently available in over 140 countries on Kraken, xStocks will soon expand its support to more countries. The rapid growth of xStocks, surpassing $2.5 billion in combined volume, underscores the market’s appetite for this innovative asset class. The integration with TRON represents a significant milestone for xStocks, following recent developments with BNB Chain and the initial launch with Solana. The multi-chain approach underscores the belief that tokenized equities should be open, permissionless, and interoperable, allowing users to access markets on trusted chains. Looking ahead, Kraken will continue collaborating with Backed to introduce xStocks to additional high-performance blockchains, further expanding access for Kraken clients globally. Explore xStocks on Kraken. (Note: xStocks are not available in the U.S. or to U.S. persons. Geo restrictions apply.) This article was originally published on the Kraken Blog.
xStocks Integration with TRON Blockchain: A Major Leap for Tokenized Equities
