Kraken and Bucked announce strategic partnership with Trust Wallet to accelerate adoption of tokenized US stocks
We look forward to unveiling the next major steps in Xstocks’ growth. This is the industry’s gold standard for tokenized stocks. In a partnership with Backed, Kraken will work with Trust Wallet to integrate Xstocks directly into one of the most widely used, independent crypto wallets, bringing interoperable tokenized stocks to more than 200 million users around the world.
Seamless Access from Trust Wallet
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Trust Wallet’s intuitive, multi-chain design and global reach make it a natural platform for Xstocks to integrate. Soon, trusted wallet users can seamlessly purchase XStocks using a variety of Fiat local currencies. Additionally, Trust Wallet users can deposit and withdraw Xstocks from popular crypto exchanges including Kraken on a wide range of blockchains, including Solana, BNB Chains, Tron, and Ethereum.
As part of the integration, Backed will continue to issue XStocks as fully secured on-chain tokens, maintaining a strict 1:1 backing for each tokenized equity purchased by Trust Wallet users. Trust Wallet’s user-friendly interface and vast ecosystem support make tokenized stocks easy to access for both retail investors and builders looking to incorporate them into their DEFI and Web3 applications.
Promotes mass adoption of tokenized stocks
Arjun Sethi, Kraken Co-CEO: “In order for XStocks to achieve true mass adoption, seamless integration with the world’s most popular self-duty wallets is not important, but important.
“This is more than integration. It’s a paradigm shift. It accelerates the global market’s conversion into open, borderless, 24/7 systems, with the same freedom and accessibility as the Internet itself.”
Eowyn Chen, CEO of Trust Wallet: “Trust Wallet is always about deactivating access. It’s about not just crypto, but also the future of global finance. By integrating XStocks, we bridge the gap between Web3 and traditional markets in an intuitive, perimeter, and user-first way.
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Supported co-founder Adam Levy: “This is a monumental step towards realizing our vision of universal access. As a standard for tokenized stocks, it should be available to individuals on the blockchain of choice by XStocks.
Since its launch in late June, XStocks has already surpassed $4 billion in CEX and DEX combined, highlighting strong market demand for this new asset class. Designed to meet users’ places, XStocks offers a transparent, open, borderless pathway to be exposed to the US capital market through tokenization.
What’s next for Xstocks?
Trust Wallet integration is the latest milestone in the rapid expansion of Xstocks beyond the Kraken platform. Over the past few weeks, XStocks has added support to users on BNB chains, Tron and Ethereum, but has launched XStocks for millions of EU-based clients.
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Over the coming weeks, we will work with our partners to bring XSTOCKS to higher performance blockchains and major consumer applications, making the gold standard of tokenized stocks more accessible to the wider communities, communities and markets around the world.
Our blockchain-independent multi-platform approach reflects core beliefs. Tokenized stocks must be open, unauthorized, borderless and accessible in any ecosystem. Continue driving the adoption until you achieve this.
XStocks is issued by Backed Assets (JE) Limited (Jersey Private Limited Company) and is provided to eligible Kraken customers via Beaward Digital Solutions Ltd. (“PDSL”). XStocks is not registered with or is not registered with the local securities regulator.
PDSL (Kraken) does not provide investment advice or recommendations via the Kraken app or website, and does not need to interpret communications that way.
Individual investors should make their own decisions or seek professional independent advice if they are unsure of the suitability/appropriateness of an investment for a situation or need, including potential tax treatment. Investing in Xstocks includes a risk factor. Not only will the value of your investment be decreasing, but past performance is not a reliable indicator of future outcomes either.
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Not available in the US or the US. GEO restrictions apply. Read kraken’s Xstocks risk disclosures at kraken.com/legal/xstocks, as well as Xstocks’ basic prospects and related final terms at https://assets.backed.fi/legal-documentation.
XStocks in the EU are provided by Payward Europe Digital Solutions (CY) Limited (“PEDSL”) and regulated by the Cyprus Securities and Exchange Commission (CYSEC). License number 342/17. PEDSL does not provide investment advice and is not affiliated with the XStocks issuer.
XStocks trading involves significant risk and is not suitable for all investors. The value of your investment may be decreasing. Read the Xstocks documentation and risk disclosures available at eu.kraken.com.
About Trust Wallet
Trust Wallet is a secure, independent Web3 wallet and gateway for those who want to own, control and leverage the power of digital assets. From beginners to experienced users, Trust Wallet makes it easy, secure and convenient for over 210 million users worldwide to experience Web3, access Dapps securely, store and manage crypto and NFT, buy, sell and bet Crypto to earn rewards, win RWAs one by one, all accessing without restrictions.
