Kraken, a US cryptocurrency exchange, is launching a new service for non-US residents that allows 24-hour trading of major US stocks tokenized on a blockchain basis.
The service 'xStocks' includes top global market capitalization stocks such as Apple, Tesla, and NVIDIA, and will be provided in token form issued on the Solana blockchain. Users can buy and sell tokenized stocks in real-time, which means a global investment environment that transcends traditional stock exchange closing hours and regional restrictions.
Kraken stated, "This service operates on the Solana network, which has strengths in high-speed processing and low fees, simplifying the existing complex international stock trading process" and "By combining blockchain's transparency and reliability, it allows investors worldwide to easily access US assets."
In particular, this system is differentiated from traditional stock trading in that it allows stock ownership and trading through tokens without real-time settlement and custody. It expands liquidity and increases accessibility for global individual investors, while providing non-US investors with an opportunity to easily expose themselves to US assets without exchange and national restrictions.
Tokenized stocks are emerging as a representative example of breaking down the boundaries between traditional Finance and DeFi. As the convergence of finance and technology accelerates, Kraken's attempt is likely to be a crucial turning point that could transform the structure of the global asset market itself.
