Kraken has expanded its xStocks offering to the European Union, allowing investors to trade tokenized U.S. stocks and ETFs.
The financial conglomerate is building a blockchain platform for tokenized assets with Startale, the blockchain development firm that build Soneium with Sony.
RDC’s Ankit Mehta says that depository receipts were the original form of tokenization and should be applied to tokenized infrastructure today to offer a scalable and legally sound foundation for modern equities.
The move is part of the firm's broader push towards enabling 24/7 trading with all kinds of assets using blockchain rails.
The offering, with Ripple's contribution, aims to streamline Brazil’s structured credit market and attract foreign investors.
Founded by billionaire Ken Griffin, the firm argued that these blockchain-based products could create unfair advantages and drain liquidity from traditional equity markets.
The tokens will be deployed on Solana and backed by real securities held by Kraken’s partner, Backed Finance.