Kraken Announces Partnership with Backed and Solana Foundation to Launch xStocks

Crypto technology platform Kraken has announced a strategic partnership with tokenized equity issuer Backed and the Solana Foundation to jointly launch xStocks, which aims to provide global investors with tokenized U.S. equity and ETF investment opportunities.
xStocks will initially deploy digital forms of SPL-based US-listed stocks and ETFs on the Solana blockchain, and the first tokenized assets will be made available to eligible customers in selected non-US markets via the Kraken app.
"We are reimagining equity investing to provide an open, instant and borderless investment experience through blockchain technology," said Mark Greenberg, global head of consumer at Kraken.