KRAKEN TO LAUNCH TOKENIZED APPLE, TESLA, AND NVIDIA SHARES FOR GLOBAL TRADING

Kraken, a leading cryptocurrency exchange, announced plans earlier this week to offer tokenized versions of more than 50 U.S. stocks and exchange-traded funds (ETFs), including high-profile companies like Apple, Tesla, and Nvidia, for non-U.S. customers.

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The initiative, reported by The Wall Street Journal, allows investors outside the United States to trade these assets as digital tokens on the Solana blockchain, enabling 24/7 trading. For international investors, crypto enthusiasts, and financial regulators, this move marks a significant step toward blending traditional finance with blockchain technology in the $500 billion cryptocurrency market.

Branded as xStocks, the tokenized securities-backed 1:1 by real shares held by partner Backed Finance-aim to lower barriers for global access to U.S. equities, potentially reshaping how investors engage with major tech stocks like Apple (NASDAQ: AAPL, current price $201.853), Tesla (NASDAQ:TSLA, current price $346.33), and Nvidia (NASDAQ: NVDA, current price $133.606).

KRAKEN'S TOKENIZED STOCK INITIATIVE

Kraken's xStocks product will enable non-U.S. customers to trade tokenized versions of over 50 U.S. stocks and ETFs, including Apple, Tesla, Nvidia, and the SPDR S&P 500 ETF (SPY), on a 24/7 basis. Unlike traditional stock trading, which is limited to exchange hours, these tokens operate on the Solana blockchain, offering continuous access similar to cryptocurrencies like bitcoin. The exchange, partnering with Backed Finance to custody physical shares, ensures each token is backed 1:1 by the underlying asset, providing a direct link to the real stock's value.