The cryptocurrency trading platform Kraken and the tokenized 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 the pathway for global users to access on-chain tokenized U.S. stocks. In the coming weeks, Kraken will allow eligible customers to deposit and withdraw xStocks on its platform via BNB Chain.
As part of the collaboration, Backed will deploy xStocks on BNB Chain in the form of BEP-20 tokens, enabling users to seamlessly access tokenized assets of U.S. 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 demand where users are, bringing traditional equity on-chain, and opening pathways to underserved markets globally.
BNB Chain was selected for its high performance, low transaction fees, and leading position in on-chain activity. Its TVL is approximately $10 billion, and it has one of the most active Web3 user communities, providing a solid foundation for expanding the adoption of tokenized assets. Kraken, Backed, and BNB Chain are committed to popularizing investment by enabling global 24/7 access to the U.S. stock market.
Kraken Co-CEO Arjun Sethi stated:
"The market response to xStocks increasingly indicates that the future of capital markets will be chain-neutral, composable, and multi-chain. Expanding to BNB Chain reinforces our core belief—that tokenized stocks are not just digital wrappers of traditional assets, but a fundamental upgrade to the financial system. These tools, as programmable settlement primitives, can unlock atomic settlement, real-time global transfer capabilities, and integrate with on-chain lending, derivatives, and structured products. In a world that is inevitably moving towards multi-chain, equity assets must be able to flow freely across ecosystems, protocols, and liquidity layers, unencumbered by jurisdictional or traditional custodial barriers. As more public chains integrate xStocks, we are not just expanding access—we are building the infrastructure that allows both global retail and institutional capital to seamlessly utilize interoperable equity. This will be the beginning of a perpetual equity market—a market that is permissionless, transparent, and built for the internet."
Backed Co-Founder Adam Levi stated:
"xStocks is built as a neutral public asset class, and expanding to BNB Chain is a key step in establishing it as the standard for tokenized stocks. Our goal is not only to improve access channels but also to bring traditional finance into the blockchain space through true composability. When integrated with DeFi, tokenized stocks will surpass the scale and utility of stablecoins. BNB Chain's global reach and deep liquidity make it the ideal partner to advance this vision."
BNB Chain Head of Innovation Sarah S stated:
"Tokenizing real-world assets on BNB Chain is an important step towards promoting global financial inclusion and transparency. Our collaboration with Kraken and Backed reflects BNB Chain's commitment to bringing high-quality financial tools on-chain and connecting global users to traditional markets and decentralized finance."
The addition of BNB Chain marks another significant milestone for xStocks, expanding the alliance to one of the largest and most active blockchain ecosystems globally. Recently, Kraken has launched over 60 tokenized U.S. stocks for users in 185 countries—these are deployed by Backed on Solana in the form of SPL tokens. This strategic partnership signifies a new phase in the mainstreaming of tokenized stocks, solidifying xStocks' leading position in the rapidly evolving digital asset space.
xStocks is not open to U.S. users; regional restrictions apply.
About Kraken
Kraken is a platform built on cryptocurrency technology, dedicated to eliminating inefficiencies to promote financial freedom—serving the crypto economy and broader fields. Millions of individual users, professional traders, and institutions globally trade digital and traditional assets through Kraken, including cryptocurrencies, fiat currencies, U.S. futures, and U.S. stock ETFs.
Kraken's market can be monitored and traded via the web or the Kraken, Kraken Pro, and Krak iOS/Android apps. The futures platform provided by Kraken's subsidiary NinjaTrader can be accessed on desktop, web, and mobile through its official website.
About Backed
Founded in 2021, Backed is a Switzerland-based company that creates permissionless tokens tracking the value of publicly traded company stocks and ETFs. Its flagship product line, xStocks, offers compliant, 1:1 reserve tokenized stocks, supporting multiple blockchain ecosystems.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem dedicated to eliminating barriers to Web3 adoption and is one of the largest public chains by trading volume and active users. It includes:
- BNB Smart Chain (BSC): A secure DeFi hub offering the lowest gas fees among all EVM-compatible L1s.
- opBNB: A scalable L2 solution providing the lowest gas fees and fast processing speeds among all L2s.
- BNB Greenfield: Meeting the needs of decentralized storage in the ecosystem, supporting users in creating their own data markets.
The AvengerDAO community sets high standards for security for BNB Chain users, while Red Alarm provides real-time risk scanners for Dapps. For more information, please follow BNB Chain on X or start exploring through the Dapp library.
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