Key notes
- Tron becomes the third blockchain to support Xstocks after a successful launch on Solana and BNB chain networks.
- Tokenized products have generated more than $ 2.5 billion in negotiation volume through centralized and decentralized scholarships.
- The XSTOCK Alliance is formed with nine large companies to promote adoption and awareness of stock ecosystems in token on a global scale.
Digital assets based in the United States exchange Kraken and the Backed Finance tokenization company have joined forces with Tron Dao to integrate the “XSTOCKS” with the Blockchain Tron.
The Tron network will join So Solana and BNB the chain to become the third integration of this type since the launch of Backed’s XSTOCS in June. According to a press release on August 20, XSTOCKS is currently available via Kraken in more than 140 countries, with support for additional countries in the coming weeks.
Although token XSTOCKs’ asset offers are not currently available in the United States, they are mainly designed as a transparent route to American capital markets and have exceeded $ 2.5 billion in CEX and Dex combined volume since creation.
XSTOCKS are digital tokens that represent traditional real asset shares in societies or ETFs. They are supported 1: 1 by the actual actions with which they are associated, which are held by a regulated third party. Buyers have access to representative tokens for Wall Street stocks such as Apple, Nvidia and Tesla while retaining tokenization characteristics such as fractional property, increased liquidity and global accessibility.
Related: Valr becomes the first exchange of African crypto to launch the trading of US tokenized scholarships
Companies supporting the development and use of XSTOCKS have formed “XSTOCK Alliance”, a group dedicated to supporting and increasing commitment and awareness of the XSTOCK ecosystem. According to a Backed press release, membership of the Alliance currently includes Alchemy Pay, Backed, Bybit, Byreal, Jupiter, Kamino, Kraken, Raydium and Solana.
Kraken’s involvement in the partnership with Tron DAO and supported to bring XSTOCKS to the TRC-20 network protocol follows an increase in the activity of exchange based in the United States on the global and American markets of cryptocurrencies.
As Coinspeaker recently reported it, Kraken was operated by the state of Wyoming as a launch partner for the next Stable Frontier token (FRNT), the first stable supported by the government to launch in the United States. The Mainnet du Jeton was put online on August 20, public trade should deploy for Kraken users in the coming weeks.
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Tristan is a technological journalist and editorial leader with 8 years of experience covering science, deep technology, finance, politics and business. Before joining Coinspeaker, he wrote for Cointelegraph and Tnw.
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