Kraken, the leading cryptocurrency exchange, announced a groundbreaking partnership with Solana Foundation and Backed on May 22, 2025, to launch tokenized US stocks for global investors. This initiative aims to revolutionize equity investing by integrating blockchain technology, potentially expanding access to US equities worldwide and boosting trading opportunities.
The xStocks initiative combines the expertise of Kraken, Solana’s high-performance blockchain, and Backed’s secure custody model. This collaboration will enable 24/7 trading outside traditional market hours. Solana provides the underlying infrastructure for a seamless user experience while Backed acts as the custodian, providing a 1:1 backing of tokenized stocks with real securities.
This initiative could significantly impact global markets by opening new avenues for investment in US equities. Increased liquidity within the Solana ecosystem and increased investor interest in blockchain-based solutions are expected.
“This initiative represents a significant step towards integrating traditional financial markets with blockchain technology.” — Mark Greenberg, Executive at Kraken. This partnership signifies a potential shift in how equity investments are conducted.
Kraken’s approach builds on previous attempts by Binance to tokenize US stocks, addressing the challenges while leveraging Solana’s innovative blockchain technology for security and accessibility.
Industry experts predict this initiative could accelerate blockchain adoption across global markets, with analysts at Kanalcoin anticipating a broader market shift towards tokenized securities as blockchain technology continues to evolve.