On July 9, 2025, Kraken and Backed Finance announced their collaboration to launch tokenized equities on the BNB Chain, allowing for 24/7 trading of stocks such as Apple and Nvidia. This introduction facilitates the issuance of U.S. stocks like Apple (AAPLx), Tesla (TSLAx), and the S&P 500 ETF (SPYx) as BEP-20 tokens, accessible throughout BNB Chain’s ecosystem. The launch comes as part of the xStocks Alliance, a network of exchanges and DeFi protocols that collectively offers trading for 60 equity and ETF tokens on blockchain platforms. Kraken plans to enable users to deposit and withdraw xStocks tokens through BNB Chain soon, aiming to deepen the integration of equity tokens within DeFi, allowing for cross-protocol and cross-chain transactions or use as collateral for lending. The move represents a significant step toward an always-open, permissionless equity market that enhances transparency and programmability for financial transactions, aligning with broader trends in the tokenization of real-world assets in the crypto space.

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