This decision brings the 24/7 trading of actions and ETFs to the biggest blockchain of Defi.
Cryptocurrency Exchange Kraken announced on Tuesday September 2, that it will launch token versions of American actions on Ethereum MAINNET via XSTOCKS, a product developed by supported.
The expansion allows the 24/7 trading of shares such as Apple, Tesla and Nvidia and the funds negotiated on the stock market (ETF) on Ethereum, the largest blockchain in the world per total locked value (TVL) in Defi, with nearly $ 107 billion currently held on protocols based on Ethereum, according to Defillama.
As part of integration, Kraken eligible customers – namely non -American traders – can deposit and remove the XSTOCKS directly on Ethereum. According to a Full 1: 1 blog for each actions listed on the Kraken platform, according to a blog article Kraker, published today.
Kraken currently offers XSTOCKS to non -American users on Solana, Tron and BNB Chain, making Ethereum the fourth blockchain network where the active ingredients are deployed.
“Thanks to the expansion of XSTOCKS to Ethereum MAINNET, the XSTOCKS draw from the largest liquidity pool on chain and connect to the most well established Defim protocols in space,” said Roberto Klein, co-founder of communication, in the press release. Klein continued: “The XSTOCKs are designed for composability. We look forward to working with these teams and developing xstocks at their full potential. ”
Kraken is one of the largest centralized American scholarships (CEX) with a registered turnover of $ 1.5 billion and $ 664 billion in negotiation volume in 2024, according to the company’s documents. In the past 24 hours, Kraken has experienced around $ 1.3 billion in volume of negotiation, behind $ 3.2 billion in Coinbase, according to Coigecko data.
Xstocks figures are always lagging behind
The expansion comes when XSTOCKs recently announced that it had exceeded $ 500 million in volume of chain transactions at only 49 days after the launch of the product. While the milestone highlights an increasing interest in token actions, some experts have told the decency that the figure was largely symbolic.
Doug Colkitt, an initial Fogo contributor, explained that if half a billion dollars in less than two months is “not trivial”, he does not really hold a candle for other commercial places. “Solana Dexes see as much volume in an afternoon,” he said in challenge last month.
Indeed, in the past 24 hours, Meteora recorded $ 932 million in decentralized stock market negotiation volume (DEX), followed by Raydium to $ 637 million, and Orca at $ 496 million, according to Defilma.
However, the figure is impressive for the stock market in tokenized, told The Deviant Tom Bruni, publisher and Vice-President of Stocktwits, to the Delusal in August. He added that this “also serves as a good proof of concept and a green light for those who are built in space”.
