Kraken just teamed up with a big player. Nasdaq and Kraken officially announced their partnership, turning stocks like NVIDIA and Tesla into 1:1 tokens and selling them on-chain. The underlying tech is xStocks. I looked it up last night, xStocks was originally a product from a small company back in 2021, and surprisingly, within 6 months of launch, its trading volume exceeded $10 billion. So Kraken acquired it this January, and two months later, arranged the collaboration with Nasdaq. This year is a big year for Kraken as they’re preparing for an IPO, and they’re investing heavily. Traditional exchanges are all competing for the on-chain stock market, everyone’s staking their claims.