The exchange of Kraken cryptocurrency expanded its XSTOCKS offering to millions of European Union customers, providing chain access to American actions to investors in the region.
Expansion allows eligible European investors to negotiate tokenized versions of American popular shares and stock market funds (ETF) directly via the Kraken application.
“The expansion of XSTOCKS to the European Union has been a next natural step for Kraken, given our dedicated growth strategy and our presence on the market here. For too long, it was unnecessarily difficult to expose itself to American markets, and with XSTOCKS, we delete many barriers”, Mark Greenberg, the Kraken world chief of Kraken, said Shared with Coindesk.
The tokenized actions, also known as XSTOCKS, developed in partnership with the Society of Subsequent Swiss, are representations based on the blockchain of the acts or ETFs of the real world.
These tokens reflect the value of the underlying action and can be exchanged or held like any other cryptocurrency in your wallet. These instruments are long -standing challenges faced by global investors trying to access the US stock market, which has traditionally been difficult and charged with friction.
With XSTOCKS, EU -based investors can exchange token certificates that follow the prices of American popular stocks, eliminating the need for traditional or intermediaries. Investors will maintain a total control over their assets, allowing transparent movement on compatible platforms and self-care.
In addition, XSTOCKS can be integrated into a decentralized finance (Challenge) Protocols, serving as composable financial construction blocks which improve flexibility and user participation in modern digital markets.
The deployment of Kraken of the 24/5 XSTOCK trade in the EU is in accordance with the growing interest in financial infrastructure based on blockchain and reflects wider industry trends towards decentralization, transparency and democratization of global financial markets.
According to the Boston consulting group (BCG) And McKinsey & Company, the global tokenized asset market is expected to be worth billions of dollars by 2030s.
Tokenized stocks work like SpL tokens on the Solana blockchain, known for fast and low cost transactions, with current plans to extend the support to BEP-20 blockchains and Ethereum. This multi-chain approach aims to integrate the xstocks more deeply in the booming challenge ecosystem.
