Kraken has expanded its xStocks platform to the European Union, allowing investors to trade tokenized U.S. stocks and ETFs without the need for traditional brokers. Developed in partnership with Swiss fintech firm Backed, these tokenized stocks provide blockchain-based access to U.S. equities. Operating on the Solana blockchain, the xStocks initiative aims to offer a seamless trading experience for European investors, who can trade tokenized versions of popular U.S. stocks directly through the Kraken app. Tokens mirror the value of underlying stocks and can be easily traded or held in digital wallets. This expansion addresses prior challenges faced by global investors looking to access U.S. markets. Kraken’s trading services will be available 24/5 and are designed to foster integration into decentralized finance protocols, enhancing the overall accessibility and flexibility of investment options in digital markets. As the global tokenized asset market is expected to grow significantly in the coming years, Kraken's move reflects emerging trends towards decentralization and democratization within financial markets.

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