Kraken and Backed Finance Partner with TRON DAO for xStocks Integration
Kraken and Backed Finance have partnered with TRON DAO to integrate "xStocks" with the TRON blockchain. This marks the third integration for xStocks, which already operates on Solana and BNB Chain.
- xStocks are digital tokens representing shares in companies or ETFs, backed 1:1 by actual equities held by a regulated custodian.
- Available through Kraken in over 140 countries, xStocks facilitate fractional ownership and increased liquidity, although not currently available in the US.
- Since launch, xStocks have surpassed $2.5 billion in combined CEX and DEX trading volume.
- The xStock Alliance includes firms like Alchemy Pay, Bybit, and Solana, focused on promoting the xStock ecosystem.
- Kraken is also set to support Wyoming's Frontier Stable Token (FRNT), the first government-backed stablecoin in the US, with public trading expected soon.