Kraken Expands Tokenize xStocks Service to TRON

Kraken has just announced the expansion of its xStocks service - tokenized stocks - to the TRON network (TRX), collaborating with TRON DAO and tokenization startup Backed, the entity behind xStocks. xStocks are tokens representing stocks like Apple, Nvidia, Tesla, which have already been deployed on Solana and BNB Chain in less than 60 days. With xStocks, users can trade 24/7, own shards, and integrate with DeFi protocols like Kamino, Raydium, Jupiter (Solana), and PancakeSwap, Venus (BNB Chain). On TRON, xStocks will be issued as TRC-20 Tokens, with a 1:1 backing to the original asset. In the coming weeks, users can deposit/withdraw directly through the TRON ecosystem. Kraken emphasizes that xStocks do not provide traditional shareholder rights but are structured as debt instruments to comply with regulations. Nevertheless, this is considered a natural step, connecting traditional markets with blockchain. Since its launch in late June, xStocks has reached $2.5 billion in trading volume across both CEX and DEX, according to Backed. This is an important milestone for the expansion of tokenized stocks in crypto, as more platforms, from Kraken to Robinhood, seek to bring traditional securities onchain.