[Kraken Partners with Backed to Launch xStocks on Ethereum] According to CoinDesk, Kraken and Swiss institution Backed have announced the launch of their tokenized stock product xStocks on the Ethereum mainnet. Users can access and store xStocks on the Ethereum blockchain in the form of ERC-20 tokens, enabling interoperability with DeFi protocols. xStocks had previously been launched on Solana, BNB Chain, and TRON, with a cumulative trading volume of $3.5 billion.