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BREAKING: KRAKEN ANNOUNCES ITS NEW PARTNERSHIP WITH BACKED FOR THE LAUNCH OF XSTOCKS ON SOLANA TO OFFER TOKENIZED VERSIONS OF U.S.-LISTED EQUITIES, AVAILABLE SOON TO ELIGIBLE KRAKEN CLIENTS IN SELECT NON-U.S. MARKETS

Tokenized U.S. equities are coming to Solana first on Kraken's xStocks platform, powered by Backed ❎ Internet capital markets

This is what investing looks like when it's designed for everyone ❎ Permissionless and self-custodied ❎ Onchain, DeFi integrated from day 1 ❎ Launching on Kraken Exchange and Solana Tokenized stocks on chains where users are, in exchanges where they trade, in the apps they use.

"At Kraken, we want every asset class to be permissionless, self-custodied, onchain, 24/7, and built for everyone." – Mark Greenberg, Kraken Global Head of Consumer on stage with David Henderson, Backed Head of Growth at Solana Accelerate 🇺🇸 NYC May 19-23

The xStocks vision is now public: tokenized equities built by Backed, fully backed 1:1 by real shares and designed for the crypto ecosystem. We're excited to have Kraken Exchange and Solana as our first partners, but we’re just getting started. We're forming the xStocks Alliance

bTokens will be interchangeable 1:1 for xStocks ❎ Upon launch, bToken holders will be able to convert them to xStocks if they choose to, and vice versa. bTokens will continue to be offered, and will continue to be fully backed. Join us in the next step for tokenized stocks.

Our Head of Growth, David Henderson, took to the stage at Avalanche Summit last week to discuss onchain finance & real-world assets. Avalanche🔺 allows access to bTokens $bCSPX and $wbCOIN, in a longstanding joint effort to expand the range of options for tokenized assets in DeFi.