We believe that access to financial opportunity should be a universal right, and not a privilege determined by geography or restricted by obsolete infrastructure. The adoption of cryptography reshapes global finance, demolishing long -standing obstacles to capital markets.
Today, we are delighted to announce the gradual launch of the American actions tokenized via the Kraken platform, offering non-American customers eligible for transparent exhibition to some of the most emblematic actions and ETFs in America. This marks an important step in our ambition to democratize investment, while taking advantage of the power of cryptographic innovation to reinvent the future of investment.
Propelled by the revolutionary XSTOCKs of Backed, we today list 60 different tokenized assets directly in the Kraken application. We plan to extend the number of assets available over time.
The XSTOCKS are available to trade on Kraken 24 hours a day, five days a week and can be removed in auto -cardial wallets – offering users 24/7 24/7 flexibility to use XSTOCKS ONCHAIN as guaranteed through DEFI in a way that traditional actions simply cannot compete.
We are starting our progressive deployment today, with plans to extend XSTOCK support to more than 185 countries around the world in the coming days.
“With XSTOCKS, we are not novelty. We are unwilling with something fundamental,” said Arjun Sethi, Kraken Co-PDG. “For the first time, people around the world can own and use a share of a tokenized stock as they would use money. You can move it, hold it, spend it or borrow it against. Everything to your wallet, without intermediaries, without borders and without delay. ”
“It is not only a question of access to markets. It is a question of putting power to the individual. For decades, financial systems have been designed around institutions. Slow, closed and exclusive. We change that. XSTOCKS does not give anyone with a smartphone the possibility of participating in the global creation of wealth; To save, invest and build a better future.
“The long arc of innovation leans towards the opening. It’s one more step for capital markets to work for everyone, everywhere. ”
Adam Levi, co-founder at Backed, said: “Tokenized actions are the next stage of the crypto as the space matures niche digital assets to a market that serves a global audience. This opportunity comes from the tokenization of demand actions that respond to the influx of user previously excluded, end up culminating in a market which is both more efficient, composable and accessible than traditional finances. ”.
Our initial launch of XSTOCKS begins with tokens based on SPL which were deployed on the Solana blockchain. In the coming weeks, we will work with the team supported to bring Xstocks to Kraken customers in a range of other high -performance blockchains.
We believe that this is not only a new feature, it is a fundamental change in the way billions of investors will engage with traditional markets, exempt from expensive intermediaries and will open 24 hours a day. The future of investment is without permission, self-caracteristic and built for everyone.
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The XSTOCKS are issued by supported assets (I) Limited (a company Jersey Private Limited) and offered to eligible customers via Payward Digital Solutions LTD. (“PDSL”), a company incorporated into the laws of Bermuda and authorized to carry out digital asset activities by the Bermuda Monetary Authority. The XSTOCKS will also not be recorded with regulators of local titles. PDSL (Kraken) does not provide advice and / or investment recommendations, and no communication, via an application or a Kraken website or other, should be interpreted as such. Individual investors should make their own decisions or request independent professional advice if they are not sure of the adequacy / relevance of any investment for their situation or their needs, including potential tax treatment. Investing in XSTOCKS involves a risk element and may not suit everyone. The value of an investment can drop as well as past and past performance is not a reliable indicator of future results. Not available in the United States or for us. Geo restrictions apply. Read the disclosure of Kraken Kraken risks on Kraken.com/legal/xstocks as well as the basic prospectus and the related final terms for XSTOCKS (available on Backed.fi) to find out more.
