Kraken Partners with Backed and Solana Foundation to Launch First-of-its-Kind Tokenized U.S. Stock Platform

Cryptocurrency exchange Kraken is collaborating with tokenization company Backed and the Solana Foundation to introduce a new platform that will offer digital representations of U.S. stocks and ETFs on the Solana blockchain. The innovative platform, known as ‘xStocks,’ has been unveiled and will initially be accessible through the Kraken app in select non-U.S. markets via the SPL standard. Backed provides these assets under the brand name ‘xStocks,’ with initial availability on the Kraken platform.