Kraken and Trust Wallet don launch 60 xStocks tokenized equities
Kraken don join hands wit Trust Wallet to put Backed’s xStocks tokenized shares for inside the popular self-custody wallet. Dis integration dey give 200 million Trust Wallet users chance to use 60 stock tokens wey full collateral. Traders fit buy an hold dis tokenized stocks wit their local money and fit deposit or withdraw for Ethereum (ETH), Solana (SOL), BNB Chain (BNB) an TRON (TRX). Every xStock get 1:1 backing by real shares, so transparency an security dey guaranteed. Kraken co-CEO Arjun Sethi yan say dis step na big change wey go lead to market wey no get borders. Dem also don put xStocks support for BNB Chain, TRON an Ethereum, plus dem extend service to eligible EU clients. By joining Kraken trading system, Backed secured xStocks an Trust Wallet global reach, dis partnership go help make DeFi access to stock tokens easy an open road for plenty people to use am.
Neutral
By put xStocks tokenized equities inside Trust Wallet, Kraken dey reduce wahala for retail and DeFi investors, wey fit make trading volumes of xStocks and on-chain activity increase. But, xStocks be security tokens no be native cryptocurrencies, so their adoption no too affect prices of Ethereum, Solana, BNB or TRON. Short short, traders fit see small volume spikes for xStocks with small volatility for major tokens. For long term, more use of tokenized equities fit make demand for transaction services for these blockchains rise, wey fit bring small better momentum. Yet, regulatory constraints and traditional market competition dey hold back overall crypto price influence, wey mean say market impact go be neutral.