Along side xStocks associate Backed, we’re excited to announce a strategic partnership with BNB Chain, one of many world’s main blockchain ecosystems. Via this partnership, BNB Chain joins the quickly rising xStocks Alliance, additional accelerating onchain entry to tokenized U.S. equities for customers the world over.
Within the coming weeks, we are going to enable xStocks to be deposited and withdrawn from our platform by eligible shoppers by way of the BNB Chain.
As a part of the collaboration, Backed will deploy xStocks – the trade customary for tokenized equities – on BNB Chain as BEP-20 tokens, giving customers seamless entry to tokenized representations of U.S.-listed shares and ETFs.
This consists of belongings like AAPLx, TSLAx, SPYx and NVDAx. By increasing to BNB Chain, xStocks continues its mission to fulfill customers the place they’re – bringing conventional equities onchain and opening entry for underserved markets around the globe.
BNB Chain was chosen for the alliance as a consequence of its excessive efficiency, low transaction charges and its place as one of many largest blockchain ecosystems by on-chain exercise. With round $10 billion in TVL and probably the most energetic Web3 person communities, it provides a robust basis for rising tokenized asset adoption.
Along with Backed and BNB Chain, we stay dedicated to democratizing investing by enabling 24/7 publicity to U.S. markets – anytime, everywhere in the world.
Arjun Sethi, Kraken co-CEOmentioned: “The response to xStocks has made one factor more and more clear: The way forward for capital markets shall be chain-neutral, composable and multichain by design,” mentioned.
“Increasing to BNB Chain reinforces our core perception that tokenized equities are usually not simply digital wrappers for conventional belongings – they’re a foundational improve to the monetary system itself. These devices behave as programmable settlement primitives, unlocking atomic settlement, real-time world transferability and composability with onchain lending, derivatives and structured merchandise.”
“In a world that may inevitably be multichain, it’s essential that belongings like equities can transfer fluidly throughout ecosystems, protocols, and liquidity layers with out being gated by jurisdiction or legacy custodial rails. As extra chains combine xStocks, we’re not simply increasing entry. We’re constructing the infrastructure to make equities globally accessible, usable and interoperable for each retail and institutional capital. That is the start of an always-on fairness market, one that’s permissionless, clear, and constructed for the web.”
Adam Levi, co-founder of Backedmentioned: “xStocks are constructed as a impartial, public-good asset class, and increasing to BNB Chain is a key step towards making them the usual for tokenized equities. Our objective is to convey conventional finance onto blockchain rails – not simply by enhancing entry, however by enabling true composability. Built-in into DeFi, tokenized equities will surpass the size and utility of stablecoins. With BNB Chain’s world attain and deep liquidity, it’s a pure associate for advancing that imaginative and prescient.”
Sarah S, Head of Enterprise Improvement at BNB Chain, mentioned: “Tokenizing real-world belongings on BNB Chain is a significant step in making world finance extra accessible and clear. Our collaboration with Kraken and Backed displays BNB Chain’s dedication to bringing high-quality monetary devices on-chain and connecting conventional markets with decentralized finance for customers around the globe.”
BNB Chain’s addition marks one other vital milestone for xStocks, increasing the alliance to one of many world’s largest and most energetic blockchain ecosystems. Just lately, Kraken launched over 60 tokenized U.S. equities – deployed by Backed as SPL-tokens on Solana – for customers throughout 185 nations. This strategic partnership alerts the following part in mainstreaming tokenized equities, cementing xStocks’ main function on the forefront of this quickly evolving digital asset panorama.
xStocks are usually not accessible within the U.S. or to U.S. individuals. Geo restrictions apply.
