xStocks Stock Token to Launch on BNB Chain, Kraken Supports Deposits and Withdrawals

The cryptocurrency exchange platform Kraken and the tokenized stock issuance platform Backed announced today a strategic partnership with the globally leading blockchain BNB Chain. Through this collaboration, BNB Chain joins the rapidly expanding xStocks alliance, further accelerating the global users' access to on-chain tokenized US stocks. In the coming weeks, Kraken will allow eligible customers to access xStocks on its platform via BNB Chain.

As part of the partnership, Backed will deploy xStocks on BNB Chain in the form of BEP-20 tokens, enabling users to seamlessly access tokenized assets of US stocks and ETFs. This includes assets such as AAPLx, TSLAx, SPYx, and NVDAx. By expanding to BNB Chain, xStocks continues to fulfill its mission—to meet demand wherever users are, bring traditional equities onto the blockchain, and open up pathways to underserved markets globally.

BNB Chain was chosen for its high performance, low transaction fees, and leading on-chain activity. With a TVL of approximately $100 billion and one of the most active Web3 user communities, it provides a solid foundation for the adoption of tokenized assets. Kraken, Backed, and BNB Chain are committed to popularizing investment by enabling access to the global 24/7 US stock market.

Kraken Co-CEO Arjun Sethi stated:

“The market response to xStocks increasingly underscores that the future essence of the capital markets will be chain-agnostic, composable, and multi-chain. Expanding to BNB Chain reinforces our core belief—that tokenized stocks are not just a digital wrapper of traditional assets but a foundational upgrade to the financial system. These tools, as programmable settlement primitives, unlock atomic settlement, real-time global transferability, and composability with on-chain lending, derivatives, and structured products. In a world inexorably moving towards multi-chain, equity-like assets must flow freely across ecosystems, protocols, and liquidity layers, unconstrained by jurisdiction or traditional custody channels. With more public chains integrating xStocks, we are not just expanding access but also building infrastructure that enables seamless access to interoperable equity for both global retail and institutional capital. This will be the beginning of a sustainable equity market—an permissionless, transparent, and internet-native market.”

Backed Co-Founder Adam Levi stated:

「xStocks is built as a neutral public asset class, and expanding to the BNB Chain is a key step in realizing its vision as a tokenized stock standard. Our goal is not only to improve access channels but also to bring traditional finance into the blockchain space through true composability. When integrated with DeFi, tokenized stocks will surpass the scale and utility of stablecoins. The global coverage and deep liquidity of the BNB Chain make it an ideal partner to drive this vision forward.」

Sarah S, Head of Innovation Business at BNB Chain, stated:

「Tokenizing real-world assets on the BNB Chain is a significant step towards advancing global financial inclusion and transparency. Our partnership with Kraken and Backed demonstrates BNB Chain's commitment to bringing high-quality financial instruments onto the chain and connecting global users to traditional markets and decentralized finance.」

BNB Chain's integration marks another important milestone for xStocks, expanding the alliance to one of the world's largest and most active blockchain ecosystems. Recently, Kraken has launched over 60 tokenized U.S. stocks in SPL token form on Solana for users in 185+ countries. This strategic collaboration signals a new phase in the mainstreaming of tokenized stocks, solidifying xStocks' leading position at the forefront of the rapidly evolving digital asset space.

xStocks is not available to U.S. users; geographical restrictions apply.

About Kraken

Kraken is a platform built on cryptographic technology, dedicated to eliminating inefficiencies and driving financial freedom in the crypto economy and beyond. Millions of individuals, professional traders, and institutions worldwide use Kraken to trade digital and traditional assets, including cryptocurrencies, fiat currencies, U.S. futures, and U.S. stock ETFs.

The Kraken market can be monitored and traded through the web or the Kraken, Kraken Pro, and Kraken iOS/Android apps. The futures platform provided by Kraken's subsidiary, NinjaTrader, can be accessed on desktop, web, and mobile through the official website.

About Backed

Established in 2021, Backed is a Switzerland-based company that creates permissionless tokens tracking the value of listed company stocks and ETFs. Its flagship product line, xStocks, offers compliant, 1:1 reserve-backed tokenized stocks supporting multiple blockchain ecosystems.

About BNB Chain

BNB Chain is a community-driven blockchain ecosystem dedicated to eliminating Web3 adoption barriers and is one of the world's largest public chains in terms of transaction volume and active users. It includes:

· BNB Smart Chain (BSC): A secure DeFi hub offering the lowest Gas fees among all EVM-compatible L1s

· opBNB: A scalability L2 solution providing the lowest Gas fees and fast processing speeds among all L2s

· BNB Greenfield: Addressing the decentralized storage needs of the ecosystem, supporting users in creating their own data markets

The AvengerDAO community ensures high-standard security for BNB Chain users, while Red Alarm provides real-time risk scanners for Dapps. For more information, follow BNB Chain on X or start exploring through the Dapp library.

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