- Kraken partnered with Backed and Binance Chain to launch tokenized stock trading on the BNB network.
- Users can soon deposit and withdraw tokenized US stocks like Tesla and Apple through the Binance Chain.
- BNB Chain becomes the second blockchain after Solana to support Kraken’s xStocks platform.
Cryptocurrency exchange Kraken announced a strategic partnership with Backed and Binance Chain to expand access to tokenized stock trading. The collaboration will enable users to trade tokenized US equities on the BNB Chain network, marking a significant development in the digital asset space.
The partnership positions BNB Chain as the second blockchain network to support Kraken’s xStocks tokenized equity platform. Solana currently serves as the only other chain offering these trading capabilities.
Multi-Chain Access for Tokenized Equities
In the coming weeks, eligible Kraken clients can deposit and withdraw tokenized stocks through the Binance Chain network. The integration represents a major expansion of the exchange’s tokenized equity offerings beyond its initial blockchain infrastructure.
Backed will deploy xStocks on the BNB Chain as BEP-20 tokens, providing users seamless access to tokenized versions of major US stocks and ETFs. The offering includes popular technology stocks such as Tesla (TSLA), Apple (AAPL), and NVIDIA (NVDA), alongside the SPDR S&P 500 ETF (SPY).
The Stock Alliance will welcome BNB Chain as part of this collaboration, enhancing global access to on-chain tokenized equity trading. This alliance aims to create broader adoption of tokenized financial instruments across multiple blockchain networks.
Binance founder Changpeng “CZ” Zhao welcomed the partnership through social media posts, expressing enthusiasm about integrating traditional financial markets with the BNB Chain ecosystem. His comments highlighted the significance of bringing stock market functionality to the blockchain network.
Strategic Vision for Digital Finance
Kraken co-CEO Arjun Sethi emphasized the transformative potential of tokenized equities in modern finance. He described the future of capital markets as chain-neutral, composable, and inherently multichain in design.
Sethi’s statement positioned tokenized equities as more than digital representations of traditional assets. He characterized them as foundational upgrades to existing financial systems, suggesting a fundamental shift in markets’ operations.
The partnership reflects growing institutional interest in bridging traditional finance and decentralized technologies. Major cryptocurrency exchanges increasingly focus on tokenized assets as a key growth area.
Traders view this development as part of a broader trend toward democratizing access to traditional financial instruments through blockchain technology. The integration allows users to interact with stock markets using cryptocurrency infrastructure and protocols.
The collaboration between Kraken, Backed, and Binance Chain demonstrates the evolving landscape of digital asset trading. Traditional financial products are increasingly being adapted for blockchain-based trading environments.
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