Quick overview

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Kraken announced a major initiative to make international financial markets more accessible: a phased rollout of tokenized US stocks for qualified non-US users.

These stocks will be issued on the Solana blockchain and include 60 asset tokens, such as leading US stocks and exchange-traded funds (ETFs), which can be traded through the Kraken app 24/7. Tokenized stocks provide more than just exposure to traditional markets.

They can be traded nonstop, used as collateral in DeFi, and withdrawn to self-custodial wallets, making them more flexible than conventional stocks. Arjun Sethi, co-CEO of Kraken, stated, “This is the first time that people from all over the world can own and use a share of a tokenized stock like they would use money.”

This is not just about innovation; it’s about empowering individuals and removing barriers long set by institutional gatekeepers or geographic limits.

According to Adam Levi, co-founder of Backed, tokenized stocks are the next phase in the evolution of cryptocurrency, bridging the gap between traditional finance and a decentralized economy.

“This pertains to global accessibility, effectiveness, and decomposability. SPL-based tokens represent the initial step in a broader rollout with Kraken and Backed planning to expand to other fast blockchains soon”. This launch aims to make capital markets open, self-custodial, and non-permitted.