Stock RWA Token xStocks Launched by Backed Now Available, First Listed on CEXs Such as Bybit and Kraken

BlockBeats News, June 30th, according to Coindesk, Backed Finance announced that it will launch tokenized stock products on mainstream cryptocurrency exchanges and Solana-based decentralized finance (DeFi) protocols, making the integration of stocks of public companies such as Apple, Amazon, Microsoft, with crypto-native platforms even closer.

The company stated on Monday that the around 60 stocks and ETF token products being launched will support 24/7 trading on weekdays, with Bybit and Kraken being the first exchanges to support trading of these tokens, followed by integration on the same day with DeFi apps Kamino Swap, Raydium, and Jupiter. Backed mentioned that these tokens will soon also be used as collateral for DeFi lending.