Leading cryptocurrency exchange Kraken and tokenization infrastructure provider Backed are expanding the reach of tokenized U.S. equities by making them available on the BNB Chain. This strategic collaboration introduces tokenized versions of popular U.S. stocks, such as AAPLx, TSLAx, and NVDAx, as BEP-20 tokens, marking a significant step towards Kraken's vision of chain-neutral and composable capital markets.
This move will provide non-U.S. Kraken users with enhanced access to these tokenized stocks, fostering greater composability within the rapidly evolving decentralized finance (DeFi) ecosystem. Backed, through its robust infrastructure, aims to position these tokenized equities as a "public-good asset." Adam Levi, Co-founder of Backed, highlighted the ambitious goal, suggesting that tokenized equities could potentially rival stablecoins in terms of utility within DeFi.
The market has shown strong community interest in this development. Arjun Sethi, Co-CEO of Kraken, emphasized the forward-looking nature of this partnership, stating, "The future of capital markets will be chain-neutral, composable and multichain by design." This aligns with Kraken's broader mission to make capital markets more accessible, borderless, and operational around the clock.
The integration with BNB Chain, which joins Solana in supporting xStocks, was a strategic choice due to its high transaction speed, low fees, and robust global user engagement. With over $10 billion in total value locked and a rapidly growing adoption rate, BNB Chain offers a strong foundation for the expanded availability of tokenized assets. The chain's recent Maxwell upgrade, which reduced block times to 0.75 seconds, further enhances efficiency and transaction reliability for these new offerings.
This collaboration signifies a new phase in reshaping how traditional stocks are accessed on blockchain networks. By bringing real-world financial assets on-chain, Kraken and Backed are not only democratizing investment opportunities for underserved markets globally but also paving the way for seamless equity trading across multiple blockchains, all while maintaining regulatory compliance for eligible non-U.S. users. These tokenized instruments function as programmable tokens, directly linking to the value of the underlying equities and enabling 24/7 exposure to U.S. markets.
July 2025, Cryptoniteuae