Cryptocurrency Exchange Kraken has expanded its Xstocks offerings to millions of clients across the European Union, providing access to US shares to investors in the region.
The expansion allows eligible European investors the opportunity to trade tokenized versions of popular US shares and stocked funds (ETFS) Directly through the Kraken app.
“Expansion of Xstocks to the European Union was a natural next step for Kraken, considering our dedicated growth strategy and the market’s presence here. Too long it has been unnecessarily challenging to get exposure to US markets, and with Xstocks we remove many of barriers,” said Mark Greenberg, Kraken’s global consumer manager, in the advertising, sharing with Coindes.
Tokenized shares, also known as Xstocks, developed in partnership with the Swiss FinTech company supported, are blockchain-based representations of the real world stocks or ETFs.
These tokens mirror the value of the underlying stock and can be traded or held like any other cryptocurrency in your wallet. These instruments address the many years of challenges that global investors face trying to gain access to the US stock market, which has traditionally been difficult and full of friction.
With Xstocks, EU-based investors can trade tokenized certificates that track the prices of popular US equities, eliminating the need for traditional brokers or intermediaries. Investors will maintain full control over their assets, allowing trouble -free movement across compatible platforms and self -insurance.
In addition, Xstocks can be integrated into decentralized financing (Defi) Protocols that serve as composed economic building blocks that improve users’ flexibility and participation in modern digital markets.
Kraken’s roll-out of 24/5 XSTOCS commerce in the EU is in line with the growing interest in blockchain-based financial infrastructure and reflects broader industry’s trends against decentralization, transparency and democratization of global financial markets.
According to the Boston Consulting Group (BCG) And McKinsey & Company, the global tokenized asset market, is expected to be worth the trillion of dollars in the 2030s.
The tokenized warehouses act as SPL-Tokens on Solana Blockchain, known for fast and low cost transactions, with plans in progress to expand the support for the BEP-20 blockchains and Ethereum’s Mainnet. This multi-chain approach aims to integrate Xstocks deeper into the flowering defi ecosystem.
