We are excited to work with our partners at XStocks to announce our strategic partnership with BNB Chain, one of the world’s leading blockchain ecosystems. Through this partnership, BNB Chain will join the rapidly growing Xstocks Alliance, further accelerating on-chain access to US stocks tokenized for users around the world.
Over the next few weeks, we will allow Xstocks to be deposited and withdrawn from the platform by eligible clients via the BNB chain.
As part of the collaboration, Backed will deploy XStocks (the industry standard for tokenized stocks) as BEP-20 tokens in the BNB chain, providing users with seamless access to the tokenized representation of US list stocks and ETFs.
This includes assets such as AAPLX, TSLAX, SPYX, NVDAX. By expanding to the BNB chain, Xstocks will continue its mission to meet users where they are.
The BNB chain was selected for the alliance because of its high performance, low transaction fees and status as one of the largest blockchain ecosystems due to its on-chain activity. With around $10 billion in TVL and one of the most active Web3 user communities, it provides a strong foundation for tokenized asset recruitment.
Along with the backed BNB chain, we remain committed to democratizing our investments by enabling exposure to the US market 24/7 at any time around the world.
Arjun Sethi, Kraken Co-Ceo“The response to XStocks has become increasingly clear. The future of capital markets is chain-neutral, configurable and designed by multi-chine.”
“By expanding into the BNB chain, we reinforce our core belief that tokenized stocks are not just a digital wrapper of traditional assets, but also a fundamental upgrade to the financial system itself. These devices act as programmable settlement primitives and act as a combination of atomic payments, real-time global transferability, on-chain lending, derivatives and structured products.”
“In a world that will inevitably become multichine, it is important that assets such as stocks can move fluidly across ecosystems, protocols and liquidity layers without being gated by jurisdictions or legacy custody rails. Capital has always been the beginning of the stock market, which is not permitted, transparent and built for the Internet.”
Backed co-founder Adam Levy“XStocks is built as a neutral, public asset class, and expansion into the BNB chain is an important step to make them the standard for tokenized stocks. Our goal is to bring traditional funds to the blockchain rail by not only improving access, but enabling true complexity. Liquidity, it is a natural partner to advance that vision.”
Sarah S, head of business development at BNB chain, said“Tokenization of real-world assets in the BNB chain is a meaningful step towards making global finance more accessible and transparent. Our collaboration with Kraken and Bucked reflects our commitment to chain BNB chain’s high quality financial products and linking traditional markets with distributed finance for users around the world.”
The addition of the BNB chain marks another important milestone for XStocks, expanding the alliance into one of the world’s largest and most active blockchain ecosystems. Recently, Kraken launched more than 60 tokenized US stocks for users in 185 countries, which were backed up as Solana’s SPL-Tokens. This strategic partnership marks the next stage in mainstream tokenized stocks that solidify the lead role of XStocks at the forefront of this rapidly evolving digital asset situation.
XStocks is not available in the US or the US. Geo Limitations Apply.
