Backed Finance Debuts Tokenized Stocks on Bybit, Kraken and Solana DeFi Protocols
The offering includes some 60 equity and ETF tokens that are available for trading around-the-clock, the company said on Monday.
Crypto exchanges Bybit and Kraken are first to allow trading with the tokens, followed by integrations with DeFi apps Kamino Swap, Raydium and Jupiter later in the day, the press release said. The tokens will soon be available as collateral for DeFi lending, too, Backed said.
The move comes as momentum grows for bringing traditional financial instruments including equities onto blockchain rails, also known as tokenization of real-world assets. Crypto exchanges, such as Coinbase and Gemini, are seeking to expand into tokenized securities trading, while Robinhood was reportedly working on offering tokenized U.S. stocks for EU users.
Backed's rollout fits into that trend. The firm is orchestrated the xStocks Alliance, a group of exchanges and DeFi apps committed to building an open onchain market for real-world assets.
"xStocks represent a monumental leap forward in democratizing access to financial markets," Adam Levi, co-founder of Backed, said in a statement.
"By bringing familiar assets onto the blockchain with unprecedented accessibility, we are not just bridging traditional finance and DeFi; we are building the foundational blocks for a truly open, efficient, and inclusive global financial system where everyone can participate in wealth creation," Levi said.Melden Sie sich an, um Ihr Portfolio aufzurufen.
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