Crypto change Kraken, the primary distribution associate for Backed’s tokenized equities product xStocks, has partnered with Trust Wallet, one of many world’s largest self-custody crypto wallets, to prolong the attain of tokenized equities to customers.
In a Friday announcement, Kraken said it’s “bringing interoperable tokenized equities to over 200 million customers the world over” by extending xStocks to Trust Wallet customers, who might be in a position to commerce tokenized equities by Backed, a supplier of collateralized onchain property.
The mixing will permit Trust Wallet customers to purchase and maintain 60 completely different xStocks utilizing quite a lot of native fiat currencies. It could additionally allow deposits and withdrawals throughout a number of chains, together with Solana, BNB Chain, Tron and Ethereum.
“That is greater than integration — it’s a paradigm shift,” stated Kraken Co-CEO Arjun Sethi. “We’re accelerating the transfer to a future the place international markets function with out borders, with out obstacles, and with the identical openness and accessibility because the web itself.”
XStocks not obtainable in every single place
Kraken framed the event as placing tokenized equities “instantly into the palms of tens of millions.”
Trust Wallet CEO Eowyn Chen stated the deal bridges the hole between Web3 and conventional markets, whereas Backed co-founder Adam Levi emphasised crosschain accessibility as a “public good.”
Nonetheless, the 200 million Trust Wallet customers marketed within the announcement could not all be eligible to commerce xStocks. Securities are regulated in a different way from crypto tokens, and legal guidelines diverge considerably throughout jurisdictions.
Ross Shem, co-founder and chief working officer at tokenization firm Stobox, beforehand stated that tokenized securities are nonetheless “certain by securities legal guidelines.”
Which means that they require Know Your Buyer (KYC) guidelines and must respect investor protection standards. “The one factor they share with crypto is the underlying know-how, not the ethos, not the regulation, not the tradition,” Shem stated.
Kraken itself famous that xStocks are “not obtainable within the US or to US individuals.” The change additionally added that geographic restrictions are in place.
This implies that the quantity marketed within the change’s announcement is perhaps overstating the instant pool of eligible customers for the brand new product.
Cointelegraph reached out to Kraken for remark, however didn’t get a response by publication.
Associated: Kraken met with SEC crypto task force to discuss tokenization
XStocks generated over $4 billion in quantity
Since their debut, Kraken stated xStocks have already generated greater than $4 billion in mixed buying and selling quantity on centralized and decentralized exchanges, signaling sturdy demand for publicity to tokenized US capital markets.
Karken has additionally rolled out support for eligible EU-based clients. The corporate stated the preliminary rollout covers all international locations besides the US, the UK, Canada and Australia.
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Cointelegraph by Ezra Reguerra Kraken Partners With Trust Wallet to Expand Tokenized Equities Reach cointelegraph.com 2025-09-19 12:37:58
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