Cryptocurrency exchange Kraken will offer non-US customers the ability to trade tokenized US stocks, expanding its range of traditional assets through blockchain technology.
The service will be facilitated by Backed, a new Kraken partner, with tokens issued on the Solana blockchain for its speed, low latency and robust ecosystem.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
At Solana's Accelerate event on May 22, Kraken co-CEO Arjun Sethi emphasized the transparency and decentralization of cryptocurrencies.
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Earlier this year, Kraken also introduced ETFs and stock trading for select US clients.