Kraken, one of the world’s leading cryptocurrency exchanges, and Backed, a tokenization infrastructure provider, have officially announced the expansion of xStocks support to BNB Chain. This move follows the successful rollout of tokenized U.S. equities on Solana and marks a major step forward in the ongoing evolution of onchain finance.
What Are xStocks and Why They Matter
xStocks are tokenized representations of U.S.-listed stocks and ETFs, including AAPLx, TSLAx, SPYx, and NVDAx. These assets are designed for non-U.S. users to gain seamless, 24/5 access to equities — with the flexibility of onchain trading and programmability through DeFi integrations.
With this latest expansion, xStocks will now be available on BNB Chain as BEP-20 tokens, opening the door to more accessible and composable financial products for global users.
BNB Chain’s Role in the Tokenization Movement
BNB Chain was chosen for this initiative due to its high transaction throughput, low fees, and active Web3 ecosystem. According to Kraken and Backed, BNB Chain’s strong global user base and decentralized finance infrastructure make it a natural fit for hosting tokenized U.S. equities.
With over $10 billion in total value locked (TVL) and a rapidly growing developer and user community, BNB Chain is positioning itself as a hub for real-world asset (RWA) tokenization.
Kraken’s Vision for Multichain Tokenized Capital Markets
Kraken co-CEO Arjun Sethi emphasized the company’s commitment to a chain-neutral and composable future for capital markets. “Expanding to BNB Chain reinforces our core belief that tokenized equities are a foundational upgrade to the financial system,” he said.
The goal is to make tokenized assets programmable and globally transferable, enabling new opportunities in onchain lending, structured products, and instant settlement.
Backed co-founder Adam Levi added that tokenized equities are being positioned as a public-good asset class that could ultimately surpass stablecoins in scale and utility when fully integrated into decentralized finance platforms.
Tokenized Equities: A Growing Global Trend
Kraken’s rollout of xStocks began in June with more than 60 U.S. equities issued as SPL tokens on Solana. These tokens are available for users in over 185 countries, offering flexible trading hours beyond traditional market sessions. Support for weekend trading and additional networks is planned in the future.
Other major platforms, including Bitget, Bybit, Gate, and Robinhood, are also joining the tokenized equities race. Notably, Robinhood has launched over 200 tokenized U.S. stocks for EU users via the Arbitrum network. Meanwhile, Coinbase is seeking regulatory approval to introduce tokenized stocks in the U.S. market.
Tokenization’s Future Looks Multichain
With institutional and retail interest rapidly growing, tokenization is set to redefine how equities are accessed, traded, and utilized. Kraken’s expansion to BNB Chain aligns with broader market momentum and represents a milestone in democratizing global finance.
As Kraken and Backed deepen their multichain strategy, tokenized stocks are poised to become a mainstream financial instrument — delivering benefits in efficiency, access, and innovation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.