xStocks stock token will be launched on BNB Chain, Kraken supports deposits and withdrawals.

BlockBeats news, on July 9th, the Crypto Assets trading platform Kraken and the Tokenization stock issuance platform Backed today announced a strategic partnership with the globally leading Blockchain BNB Chain. Through this collaboration, BNB Chain joins the rapidly expanding xStocks alliance, further accelerating global users' access to on-chain tokenized US stocks. In the coming weeks, Kraken will allow eligible customers to access xStocks on its platform via BNB Chain. As part of the partnership, Backed will deploy xStocks on BNB Chain in the form of BEP-20 Tokens, enabling users to seamlessly access tokenized assets of US stocks and ETFs. This includes assets such as AAPLx, TSLAx, SPYx, and NVDAx. By expanding to BNB Chain, xStocks continues to fulfill its mission—meeting demands where users are, bringing traditional equity on-chain, and opening pathways for underserved markets globally. BNB Chain was chosen for its high performance, low Money Laundering, and its leading position in on-chain activity. Its TVL is approximately 10 billion USD, and it has one of the most active Web3 user communities, providing a solid foundation for the adoption of tokenized assets. Kraken, Backed, and BNB Chain are jointly committed to popularizing investment by providing global 24/7 access to the US stock market.