Cryptocurrency trading platform Kraken and tokenized stock issuance platform Backed today announced a strategic partnership with leading global blockchain BNB Chain. Through this collaboration, BNB Chain joins the rapidly expanding xStocks alliance, further accelerating global users' access to on-chain tokenized U.S. stocks. In the coming weeks, Kraken will allow eligible customers to deposit and withdraw xStocks on its platform via BNB Chain.

As part of the collaboration, Backed will deploy xStocks on BNB Chain in the form of BEP-20 tokens, enabling users to seamlessly access tokenized assets of U.S. stocks and ETFs. This includes assets such as AAPLx, TSLAx, SPYx, and NVDAx. By expanding to BNB Chain, xStocks continues to fulfill its mission of meeting demand where users are, bringing traditional equity on-chain, and opening up access for underserved markets globally.

BNB Chain was selected for its high performance, low transaction fees, and leading on-chain activity. With a TVL of approximately $10 billion and one of the most active Web3 user communities, it provides a solid foundation for expanding the adoption of tokenized assets. Kraken, Backed, and BNB Chain are jointly committed to popularizing investment by enabling 24/7 access to the U.S. stock market globally.

**Kraken Co-CEO Arjun Sethi said:**

"The market response to xStocks increasingly demonstrates that the future of capital markets will inherently be chain-neutral, composable, and multi-chain. Expanding to BNB Chain reinforces our core belief that tokenized stocks are not just digital wrappers of traditional assets, but a fundamental upgrade to the financial system. These tools, as programmable settlement primitives, unlock atomic settlement, real-time global transfer capabilities, and composability with on-chain lending, derivatives, and structured products. In an inevitably multi-chain world, equity-like assets must be able to flow freely across ecosystems, protocols, and liquidity layers, unconstrained by jurisdictional or traditional custodial channels. As more public chains integrate xStocks, we are not just expanding access—we are building the infrastructure to make interoperable equity accessible to global retail and institutional capital. This will be the beginning of the perpetual equity market—a permissionless, transparent market built for the internet."

**Backed Co-founder Adam Levi said:**

"xStocks are built as a neutral, public asset class, and expanding to BNB Chain is a critical step in realizing its potential as the standard for tokenized stocks. Our goal is not only to improve access but also to bring traditional finance into the blockchain channel by enabling true composability. When integrated with DeFi, tokenized stocks will surpass the scale and utility of stablecoins. BNB Chain's global reach and deep liquidity make it an ideal partner to advance this vision."

**BNB Chain's Head of Innovation Business Sarah S said:**

"Tokenizing real-world assets on BNB Chain is an important step in promoting global financial inclusion and transparency. Our collaboration with Kraken and Backed embodies BNB Chain's commitment to bringing high-quality financial instruments on-chain, connecting traditional markets with decentralized finance for users worldwide."

The addition of BNB Chain marks another significant milestone for xStocks, expanding the alliance to one of the largest and most active blockchain ecosystems globally. Recently, Kraken has launched over 60 tokenized U.S. stocks for users in 185 countries—these are deployed by Backed on Solana in the form of SPL tokens. This strategic partnership marks a new stage in the mainstream adoption of tokenized stocks, solidifying xStocks' leading position in the rapidly evolving digital asset space.

xStocks are not available to U.S. users, and geographical restrictions apply.

## About Kraken

Kraken is a platform built on cryptocurrency technology, dedicated to eliminating inefficiencies and promoting financial freedom—serving the crypto economy and beyond. Millions of individuals, professional traders, and institutions worldwide use Kraken to trade digital and traditional assets, including cryptocurrencies, fiat currencies, U.S. futures, and U.S. stock ETFs.

Kraken markets can be monitored and traded via the web or the Kraken, Kraken Pro, and Krak iOS/Android apps. The futures platform provided by Kraken's subsidiary NinjaTrader is available on desktop, web, and mobile via the official website.

## About Backed

Founded in 2021, Backed is a Swiss-based company that creates permissionless tokens that track the value of publicly traded stocks and ETFs. Its flagship product line, xStocks, offers compliant, 1:1 reserve-backed tokenized stocks, supporting multiple blockchain ecosystems.

## About BNB Chain

BNB Chain is a community-driven blockchain ecosystem committed to removing barriers to Web3 adoption and is one of the world's largest public chains in terms of transaction volume and active users. It includes:

· BNB Smart Chain (BSC): A secure DeFi hub that provides the lowest Gas fees of all EVM-compatible L1s

· opBNB: A scalable L2 solution that offers the lowest Gas fees and fast processing speeds of all L2s

· BNB Greenfield: Meets the decentralized storage needs of the ecosystem and supports users in creating their own data markets

The AvengerDAO community sets high standards for security for BNB Chain users, and Red Alarm provides Dapps with real-time risk scanners. For more information, follow BNB Chain on X or start exploring through the Dapp library.