Kraken plans to list token actions of Nvidia, Apple, Tesla and more than 50 other American shares and Stock Exchange (ETF) funds, reported the Wall Street Journal.
The tokens, deployed on Solana
will be known as “XSTOCKS” and will be available to negotiate 24/7 for investors around the world. Some of the ETFs which will be available to exchange include the S&P 500 ETF SPDR (SPY), which follows the S&P 500 index and the SPDR Gold (GLD) actions.
Actions will be represented by real actions held by supported finances and may be exchanged 1: 1 for their cash value.
Kraken had announced the initial deployment of more than 11,000 shares and ETF listed in the United States in April, starting with 10 American states and offered by Kraken Securities.
The latter announces Kraken’s offer to include token versions of more than 50 actions and ETF to customers outside the United States, starting with Europe, Latin America, Africa and Asia.
This decision puts Kraken in direct competition on platforms like Robinhood (Hood) and in fact the first exchange to successfully offer token actions of major American actions. Binance tried to launch American actions tokenized in 2021, but finally canceled their plans due to regulatory uncertainty.
A spokesperson for Kraken told Wall Street Journal that the exchange “actively works with various regulators” to ensure that XSTOCKs can be legally offered in each jurisdiction as the regulations varies.
Tokenization, which transforms active active people into blockchain tokens, has become the last fashionable word in crypto with more and more companies that start to enter space. Some, including Ondo Finance, Blackrock and Franklin Templeton, have long been pioneers in the region, pushing their global tokenization market to a market capitalization of $ 65 billion in May.
