Kraken Partners with Backed to Launch xStocks on Ethereum

BlockBeats News, September 2nd, according to CoinDesk, Kraken has announced a partnership with the Swiss institution Backed to launch its tokenized stock product, xStocks, on the Ethereum mainnet. Users can now interact with xStocks on the Ethereum blockchain in ERC-20 token form, enabling interoperability with DeFi protocols. Previously, xStocks was available on Solana, BNB Chain, and TRON, with a total trading volume of $3.5 billion.