Kraken and Backed Finance Tokenize xStocks on TRON TRC-20
Kraken and Backed Finance are set to launch xStocks tokenization on TRON’s TRC-20 network, marking the third xStocks tokenization after Solana and BNB Chain. The xStocks tokens, backed 1:1 by US equities like Apple, Tesla and Nvidia, enable fractional ownership, high liquidity and global access. Since the Solana and BNB launches in late June, xStocks have recorded over $2.5 billion in CEX and DEX trading volume, underscoring growing demand for tokenized equities. By leveraging TRON’s $22 billion daily settlements and $26 billion TVL—primarily in USDT—eligible Kraken clients can now deposit and withdraw xStocks via TRC-20. The xStock Alliance, featuring firms like Alchemy Pay, Bybit and Solana, will drive ecosystem growth. Traders should watch for rising tokenized equity activity and expanded multichain trading corridors.
Bullish
The integration of xStocks tokenization on TRON TRC-20 expands the network’s use cases and attracts institutional and retail liquidity to TRC-20 markets. In the short term, the rollout should boost TRON’s transaction volume and stablecoin activity, supporting network fees and on-chain adoption. Over the long term, repeated xStocks launches across multiple blockchains underline TRON’s competitive positioning in tokenized equities, likely drawing more developers and traders to the ecosystem. These factors collectively point to a bullish outlook for TRON (TRX) as tokenized equities gain traction.