Trust Wallet Joins xStocks Alliance, Unlocking Tokenized Equities Access for Its 200M Users
Kraken and Backed announce strategic partnership with Trust Wallet to speed up adoption of tokenized U.S. equities
We’re excited to announce the following main step within the development of xStocks – the business’s gold commonplace for tokenized equities. In partnership with Backed, Kraken is collaborating with Trust Wallet to combine xStocks straight into some of the extensively used self-custody crypto wallets, bringing interoperable tokenized equities to over 200 million customers internationally.
Seamless entry via Trust Wallet
Trust Wallet’s intuitive, multi-chain design and international attain make it a pure platform for xStocks to combine with. Soon, Trust Wallet customers will be capable of seamlessly purchase xStocks utilizing a variety of fiat native currencies. In addition, Trust Wallet customers will be capable of deposit and withdraw xStocks from in style crypto exchanges, together with Kraken, throughout a variety of blockchains, together with Solana, BNB Chain, TRON, and Ethereum.
As a part of the mixing, Backed will proceed to challenge xStocks as totally collateralized, on-chain tokens, sustaining strict 1:1 backing for every tokenized fairness {that a} Trust Wallet consumer purchases. Trust Wallet’s user-friendly interface and expansive ecosystem help will make sure that tokenized equities are simply accessible for each retail traders and builders trying to incorporate them into DeFi and Web3 purposes.
Driving mass adoption of tokenized equities
Arjun Sethi, Kraken co-CEO: “For xStocks to attain true mass adoption, seamless integration with the world’s hottest self-custody wallets isn’t simply vital, it’s important. Bringing xStocks to Trust Wallet places tokenized equities straight into the arms of tens of millions of customers worldwide, proper alongside the crypto, stablecoins, and DeFi property they already use day by day.”
“This is excess of an integration. It’s a paradigm shift. We’re accelerating the transformation of worldwide markets into an open, borderless, 24/7 system that works with the identical freedom and accessibility because the web itself.”
Eowyn Chen, Trust Wallet CEO: “Trust Wallet has at all times been about unlocking entry – not simply to crypto, however to the way forward for international finance. By integrating xStocks, we’re bridging the hole between Web3 and conventional markets in a manner that’s intuitive, borderless, and user-first. This collaboration brings tokenized equities straight into the arms of tens of millions, no brokerage account wanted.”
Adam Levi, Backed co-founder: “This is a monumental step in realizing our imaginative and prescient for common entry. As the usual for tokenized equities, xStocks needs to be out there to people throughout no matter blockchain they select, and having over 200 million customers having the ability to entry tokenized equities via Trust Wallet reaffirms its position as a public good.”
Since launching in late June, xStocks have already surpassed $4 billion in mixed CEX and DEX quantity, underscoring robust market demand for this new asset class. Designed to fulfill customers the place they’re, xStocks supply a clear, open, and borderless pathway to achieve publicity to U.S. capital markets via tokenization.
What’s subsequent for xStocks?
Trust Wallet’s integration is the newest milestone in xStocks’ speedy growth past the Kraken platform. In latest weeks, xStocks has added help for customers of BNB Chain, TRON, and Ethereum, whereas we now have additionally launched xStocks for our tens of millions of EU-based purchasers—unlocking a brand new wave of demand for this rising asset class.
In the weeks forward, we’ll proceed working with companions to convey xStocks to extra high-performance blockchains and main client purposes, making certain the gold commonplace for tokenized equities turns into extra accessible to a wider group of customers, communities, and markets internationally.
Our blockchain-agnostic, multi-platform strategy displays a core perception: tokenized equities needs to be open, permissionless, borderless and accessible throughout each ecosystem. We’ll maintain driving adoption till we obtain this.
xStocks are issued by Backed Assets (JE) Limited (a Jersey non-public restricted firm) and supplied to eligible Kraken prospects by way of Payward Digital Solutions Ltd. (“PDSL”), an organization licensed to conduct digital asset enterprise by the Bermuda Monetary Authority. xStocks usually are not nor will probably be registered with any native securities regulators.
PDSL (Kraken) doesn’t present funding recommendation and/or suggestions, and no communication, via any Kraken App or web site or in any other case, needs to be construed as such.
Individual traders ought to make their very own choices or search skilled impartial recommendation if they’re not sure as to the suitability/appropriateness of any funding for their circumstances or wants, together with potential tax remedy. Investing in xStocks includes a component of danger. The worth of an funding could go down in addition to up, and previous efficiency is just not a dependable indicator of future outcomes.
Not out there within the U.S. or to U.S. individuals. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/authorized/xstocks in addition to the Base Prospectus and associated Final Terms for xStocks at https://property.backed.fi/legal-documentation to be taught extra.
xStocks within the EU are offered by Payward Europe Digital Solutions (CY) Limited (“PEDSL”), regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no 342/17. PEDSL doesn’t present funding recommendation and isn’t affiliated with the issuer of the xStocks, which is Backed Assets (JE) Limited.
Trading xStocks includes vital dangers and isn’t applicable for all traders. The worth of your funding could go down or up. Read the Offering Documentation and Risk Disclosure for xStocks out there on eu.kraken.com.
About Trust Wallet
Trust Wallet is a safe, self-custody Web3 pockets and gateway for individuals who need to totally personal, management, and leverage the facility of their digital property. From rookies to skilled customers, Trust Wallet makes it simpler, safer, and handy for 210+ million customers world wide to expertise Web3, entry dApps securely, retailer and handle their crypto and NFTs, in addition to purchase, promote, and stake crypto to earn rewards, and now entry RWAs — multi functional place and with out limits.
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