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Kraken, in partnership with Backed, is collaborating with Tron DAO to integrate its tokenized equities product, xStocks, with the Tron blockchain.
Kraken’s Tokenized Equities Product Launches on Tron Network
Kraken said the integration will see Backed deploy xStocks as TRC20 tokens on the Tron network. Each token will maintain a full 1:1 backing with the underlying equity asset listed on Kraken’s platform. Eligible clients will soon be able to deposit and withdraw xStocks directly through Tron.
The move marks the third blockchain expansion for xStocks in under 60 days, following launches on Solana and BNB Chain. Kraken co-CEO Arjun Sethi stated the expansion reflects a design for “openness from the start,” aiming for a permissionless and interoperable multi-chain architecture for equities.
Tron founder Justin Sun said the collaboration demonstrates how decentralized networks can bring tokenized equities into a more accessible environment, bridging traditional markets with blockchain technology.
“Tokenized equities represent a natural evolution for crypto, bridging traditional markets with blockchain,” Sun remarked. “As demand for popular equities meets a global base of previously excluded users, we’ll see a more efficient, flexible, and accessible market.”
xStocks provide exposure to U.S. equities and are currently available to Kraken clients in over 140 countries. The product has facilitated more than $2.5 billion in combined centralized and decentralized exchange (DEX) volume since its late June launch.
Kraken and Backed stated they will continue working to bring xStocks to additional high-performance blockchains to expand global client access.