- Kraken and Backed have launched xStocks on the BNB Chain, expanding their reach beyond Solana.
- xStocks represents tokenized shares of leading American companies, now available as BEP-20 tokens.
- This move is driven by BNB Chain’s superior performance and low transaction fees.
- Key xStocks like AAPLx, TSLAx, SPYx, and NVDAx are accessible to BNB Chain users.
Kraken Adds Support for BNB Chain: A New Frontier for Tokenized Stocks
In a significant development within the cryptocurrency industry, Kraken has expanded its offering of tokenized stocks, known as xStocks, to the Binance Smart Chain (BNB Chain). Previously exclusive to Solana, these tokenized shares are now available as BEP-20 tokens on the BNB Chain. This strategic shift highlights the growing trend towards blockchain interoperability in capital markets.
The Evolution of xStocks
Kraken’s collaboration with infrastructure provider Backed has facilitated the creation of xStocks. Launched in late May 2025, these products represent tokenized versions of U.S. company stocks that can be traded on international markets. Initially available only within the Solana ecosystem, this expansion to the BNB Chain is a pivotal step forward.
Why Choose BNB Chain?
The decision to integrate with BNB Chain was based on several factors: its high performance capabilities, robust on-chain activity, and low transaction fees. These features make it an attractive platform for deploying financial products like xStocks that demand efficiency and scalability.
Diverse Investment Opportunities
Through this new initiative, users on the BNB Chain will have access to a range of tokenized stocks including AAPLx (Apple), TSLAx (Tesla), SPYx (S&P 500 ETF), and NVDAx (NVIDIA). These offerings provide investors with unique opportunities to diversify their portfolios through digital assets backed by real-world securities.
The Future of Capital Markets
As stated by Kraken’s co-CEO Arjun Sethi, “The response to xStocks has made one thing increasingly clear: the future of capital markets will be blockchain-neutral, composable, and inherently multi-chain.” This perspective underscores a broader shift towards decentralization and cross-chain compatibility in financial markets.
Market Impact
On July 8th, 2025 alone, trading volume for xStocks reached $3.34 million—primarily driven by shares in Tesla and Circle. This figure illustrates strong market interest and potential growth as more investors seek exposure to tokenized assets.
With Kraken’s recent MiCA license approval in Ireland further bolstering its operations in Europe, these developments signify a promising trajectory for both Kraken and the wider cryptocurrency landscape. The integration with BNB Chain not only enhances accessibility but also sets a precedent for future innovations in digital finance.
