Kraken has announced a partnership with Trust Wallet to integrate xStocks, its tokenized equities product, into the self-custody wallet. The integration will allow Trust Wallet users to buy 60 different xStocks using multiple fiat currencies and transfer them across blockchains including Solana, BNB Chain, TRON, and Ethereum.
In parallel, other exchanges and brokers are advancing tokenized equities: Coinbase is seeking U.S. Securities and Exchange Commission approval to offer blockchain-based trading of traditional stocks, while Robinhood has launched tokenized versions of major U.S. equities for European users under EU regulatory oversight.
Arjun Sethi, co-CEO of Kraken, Source: Youtube
Backed will continue issuing xStocks as fully collateralized tokens, maintaining a 1:1 backing for each equity. Since their launch in June, xStocks have reached over $4 billion in combined exchange volume. The integration with Trust Wallet aims to broaden access to U.S. capital markets through tokenization.
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“Bringing xStocks to Trust Wallet places open and interoperable tokenized equities directly into the hands of millions, alongside the crypto, stablecoins and DeFi assets they already use every day,” Arjun Sethi, Kraken co-CEO, commented.
