Kraken and xStocks partner Backed are moving to enable multichain access for their tokenized equities offering. The crypto exchange announced that users will soon be able to trade and invest in these stocks on the Binance Chain.
Kraken To Launch Tokenized Equities On Binance Chain
In a press release, the crypto exchange announced that, in conjunction with Backed, it has entered into a strategic partnership with Binance Chain. As part of the partnership, the BNB network will join the Stock Alliance, in a move that boosts on-chain access to tokenized US stocks for users globally.
In the coming weeks, eligible clients will be able to deposit and withdraw these stocks from the Kraken exchange through the Binance Chain. Furthermore, as part of the collaboration, Backed will deploy the xStocks on the BNB Chain as BEP-20 tokens. This will give users seamless access to tokenized representations of US stocks and ETFs.
This will include crypto stocks like TSLA and other major stocks like AAPL, SPY, and NVDA. Binance founder Changpeng “CZ” Zhao also commented on this Kraken partnership, welcoming the exchange and Backed to the BNB Chain ecosystem.
In another X post, he jokingly welcomed the stock market to the BNB Chain and the network to the stock market. This move represents a huge boost for the network in terms of adoption. The network will join Solana as the only chains that offer support for these tokenized equities.
Welcome stocks to @BNBChain. Welcome $BNB to stock markets. 🤔🤷♂️😂 pic.twitter.com/JfIsorcUra
— CZ 🔶 BNB (@cz_binance) July 9, 2025
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Boluwatife Adeyemi
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