Kraken announced a partnership with Trust Wallet, integrating Xstocks, a tokenized stock product, into a freestanding wallet. The integration allows Trust Wallet users to purchase 60 different Xstocks using multiple FIAT currencies and transfer them across blockchains such as Solana, BNB chains, Tron, and Ethereum.
In parallel, other exchanges and brokers are moving forward with tokenized stocks: Coinbase is seeking approval from the US Securities and Exchange Commission to provide blockchain-based transactions of traditional stocks.
Arjun Sethi, co-CEO of Kraken, source: YouTube
Those backed will continue to issue XStocks as fully secured tokens, maintaining a 1:1 backing for each equity. Since its launch in June, XStocks has combined replacement volumes to over $4 billion. The integration with Trust Wallet is intended to increase access to US capital markets through tokenization.
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“Bringing XSTOCKS to trust your wallet will open directly tokenized stocks that are open directly to millions of hands, along with the crypto, stubcoins and debt assets that you already use every day.”
