<ul><li>Kraken is set to launch tokenized equities, called xStocks, for customers in Europe, Latin America, Africa, and Asia, offering more than 50 stocks and ETFs.</li><li>The tokenized stocks will be available on the Solana blockchain, backed by shares held by Backed Finance, and redeemable for the cash value of the underlying securities.</li><li>Customers in the U.S. will not have access to the tokenized stocks, but enabling customers outside the U.S. to trade stocks as tokens will simplify trading processes, provide 24/7 access, and eliminate local brokerage fees.</li><li>Kraken's move follows Binance's launch of tokenized U.S. stocks in 2021, which was later halted due to regulatory concerns, and Kraken is actively working with regulators to ensure legal compliance for xStocks.</li></ul>

Kraken to Launch Tokenized Stocks and ETFs Outside US

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