#HODLTradingStrategy Kraken and the BNB chain enhance on-chain finance with xStocks
Wall Street initially resembled an elite select group, akin to a private club. However, that is no longer the case. In late June, xStocks were launched in the market on the Solana platform. In other words, stocks became available on-chain. Kraken and Bybit offered these stocks, along with various DeFi platforms, on Solana. Now, Kraken expands xStocks to include the BNB chain. For the first time, you will be able to trade xStocks on an EVM chain. Why did Kraken choose the BNB chain for xStocks?
There is a good reason for Kraken's choice of the BNB chain for xStocks. But first, let’s understand what xStocks are. Backed Finance is the company behind xStocks. This company sets a standard in the field for tokenized stocks. Last week, Backed introduced about 60 tokenized stocks on Solana. Bybit and Kraken are the CEX exchanges that also offer these assets. The decentralized finance (DeFi) sector on Solana has seized this opportunity as well. Many decentralized trading platforms (DEXes) on Solana also offer xStocks. And now, Kraken has a strategic partnership with the BNB chain to launch xStocks there, making the BNB chain part of the xStocks alliance. The BNB chain is also the first EVM chain to offer these digital stock assets. The assets will be available as BEP-20 tokens, which is the token standard on the BNB chain.
In other words, you can now purchase tokenized stocks like METAx, NVDAx, TSLAx, or AAPLx. One of its main advantages is that they are available 24/7.
Wall Street initially resembled an elite select group, akin to a private club. However, that is no longer the case. In late June, xStocks were launched in the market on the Solana platform. In other words, stocks became available on-chain. Kraken and Bybit offered these stocks, along with various DeFi platforms, on Solana. Now, Kraken expands xStocks to include the BNB chain. For the first time, you will be able to trade xStocks on an EVM chain. Why did Kraken choose the BNB chain for xStocks?
There is a good reason for Kraken's choice of the BNB chain for xStocks. But first, let’s understand what xStocks are. Backed Finance is the company behind xStocks. This company sets a standard in the field for tokenized stocks. Last week, Backed introduced about 60 tokenized stocks on Solana. Bybit and Kraken are the CEX exchanges that also offer these assets. The decentralized finance (DeFi) sector on Solana has seized this opportunity as well. Many decentralized trading platforms (DEXes) on Solana also offer xStocks. And now, Kraken has a strategic partnership with the BNB chain to launch xStocks there, making the BNB chain part of the xStocks alliance. The BNB chain is also the first EVM chain to offer these digital stock assets. The assets will be available as BEP-20 tokens, which is the token standard on the BNB chain.
In other words, you can now purchase tokenized stocks like METAx, NVDAx, TSLAx, or AAPLx. One of its main advantages is that they are available 24/7.