Latest news with #Backed
Business Insider
14 hours ago
- Business
- Business Insider
VALR pioneers xStocks in South Africa
Africa's largest crypto exchange becomes the first platform on the continent to introduce tokenised U.S. equities trading. VALR, Africa's largest crypto exchange by trade volume, today announced the launch of xStocks on its platform. This offering enables customers to gain price exposure through tokenisation of leading U.S.-listed equities, including Tesla, NVIDIA, Robinhood, Circle, and Coinbase. With this move, VALR becomes the first crypto exchange in the region to offer tokenised equities, marking a significant step towards financial inclusion and simplified investment opportunities across Africa. xStocks, launched by Backed in May 2025, are 1:1-backed tokenised representations of U.S.-listed equities and ETFs, providing price exposure to token holders. However, the xStocks tokens do not confer ownership rights, voting rights or other shareholder rights and privileges to token holders. These tokens can be traded on VALR's Spot market against TetherUSD (USDT) or against other crypto assets, including Bitcoin and Ethereum, or even the South African rand, via the Simple Buy/Sell terminal. Additionally, xStocks can be deposited and withdrawn via the Solana network, ensuring seamless and efficient transactions across the crypto ecosystem. This launch reflects a growing global trend of tokenising real-world assets, further bridging the gap between traditional finance and the crypto economy. By offering xStocks, VALR empowers its users to diversify their portfolios with price exposure to some of the world's most prominent companies, fostering greater access to global markets and simplifying investment strategies. The introduction of xStocks follows VALR's recent launch of the Garrington Capital USD Private Credit Token (USDPC), a yield-bearing crypto asset, as part of its broader VALR Invest initiative. These developments underscore VALR's commitment to delivering innovative financial products that enhance portfolio diversification and accessibility. Farzam Ehsani, Co-Founder and CEO of VALR, commented: 'The launch of xStocks on our platform represents a pivotal moment in advancing access to innovative products that brings choice and inclusion to people in South Africa, with a plan to make the product available to the continent and globally in the near future. By blending crypto and traditional finance, we are forging a financial system that brings down barriers and serves many more with unprecedented ease. This initiative not only strengthens VALR's global profile but also reaffirms our commitment to bringing innovation and progress to our phenomenal community of VALR users.' 'We're excited to have xStocks on VALR, marking another step in the xStocks mission to bring tokenised equities to users worldwide, in the platforms they use,' said David Henderson, Head of Growth at Backed, the issuer of xStocks. 'We have seen incredible adoption for these assets, and now users from Africa will be able to access them on VALR, participating in tokenised capital markets.' About VALR Founded in 2018, VALR is Africa's largest crypto exchange by trade volume, serving over 1,400 corporate and institutional clients and more than 1.5 million users worldwide. Headquartered in Johannesburg, VALR offers a comprehensive suite of crypto products, including Spot Trading, Spot Margin, Futures, Staking, Lending, API services, Subaccounts, OTC Trading, Simple Buy & Sell, and VALR Pay. Licensed by the FSCA in South Africa and with approval to serve parts of the European Union, VALR has secured $55 million in equity funding from leading investors, including Pantera Capital, Coinbase Ventures, GSR, and F-Prime, affiliated with Fidelity Investments. For more information, visit About xStocks VALR
Yahoo
18-07-2025
- Business
- Yahoo
KuCoin Launches xStocks, Delivering a One-Stop Access Point to Top Global Tokenized Equities
VICTORIA, Seychelles, July 18th, 2025, ChainwireOn July 18, 2025, the leading global cryptocurrency exchange KuCoin officially announced the listing of xStocks and that they are joining the xStocks alliance. xStocks are tokenized stocks powered by the Swiss-based company Backed. This launch marks a significant step forward in KuCoin's expansion of multi-asset allocation capabilities. The first batch of supported assets includes SPYx (S&P 500 ETF), CRCLx (Circle), TSLAx (Tesla), MSTRx (MicroStrategy), and NVDAx (NVIDIA)—all tokenized equities backed 1:1 by real stocks held in secure, bankruptcy remote collateral accounts, and issued on the Solana blockchain. Capturing a Dual-Cycle Growth Opportunity: Bridging Traditional and Crypto Assets On July 10, 2025, NVIDIA became the first publicly listed company to surpass a $4 trillion market capitalization. Just days later, on July 14, Bitcoin reached an all-time high, breaching $120,000 for the first time. As traditional equities and crypto assets simultaneously enter bullish territory, xStocks offer global investors a new paradigm of portfolio construction—"with tokenized NVIDIA in one hand, Bitcoin on the other." As the first USDT-denominated tokenized equity platform accessible in the largest number of countries and regions, KuCoin's listing of xStocks opens a low-barrier, highly efficient, and transparent investment gateway, empowering users to seamlessly move between top US equity exposure and crypto assets. A Truly Global Asset Allocation Platform: Empowering Long-Term User Value As one of the most internationally accessible crypto trading platforms, KuCoin currently serves over 41 million users across 200+ countries and regions. Committed to user asset safety and long-term value creation, KuCoin continues to build a comprehensive, sustainable, and robust product ecosystem designed to empower global investors. The xStocks product line is grounded in transparency and composability, with the following structural safeguards: Each tokenized asset is fully backed 1:1 by real stocks held in third-party regulated custodian banks, in a bankruptcy remote structure. Tokens are issued under an approved EU prospectus and tokenized following the Swiss DLT Act. Token holders have the primary claim to the value of any held collateral. Proof of Reserves, powered by Chainlink, coming soon for xStocks. Supporting Capital Flexibility via Strategic Allocation and Execution Infrastructure The launch of xStocks enhances capital efficiency and portfolio agility for crypto-native users, while also providing new tools to balance risk and reward across market cycles: Flexible allocation, diversified exposure: Users can tailor portfolios to their risk preferences by allocating between exposure to US ETFs, high-growth tech stocks, and digital assets—blending conservative and aggressive strategies. Unified trading, frictionless switching: Through KuCoin's account, users can effortlessly swap between tokenized stocks and crypto using USDT, without fiat onramps or platform switching. A true one-account solution for global multi-asset investing. BC Wong, CEO of KuCoin, commented: 'At KuCoin, we are dedicated to building a secure and trustworthy investment platform centered on user asset protection and long-term value growth. The launch of xStocks is not only a key extension of our global asset offering—it's a strategic milestone in bridging traditional finance and the Web3 ecosystem. Moving forward, we will continue expanding quality listings and refining the user experience, helping investors capture global growth opportunities—all in one account.' About KuCoin Founded in 2017, KuCoin has established itself as one of the most globally recognized and reliable cryptocurrency platforms, built on a robust and secure foundation of cutting-edge blockchain technology, liquidity solutions, and enhanced user account protection. With over 41 million users across 200+ countries and regions, KuCoin is committed to empowering the digital economy by providing secure, innovative, and compliant solutions tailored to meet the needs of its global community. KuCoin offers access to 1,000 digital assets and a diverse range of digital assets solutions, including web3 wallet, Spot trading, Futures Trading, institutional wealth management services, and payments. KuCoin's dedication to excellence has garnered prestigious recognitions, such as being named among Forbes' "Best Crypto Apps & Exchanges" and one of the "Top 50 Global Unicorns" by Hurun in 2024. KuCoin has successfully achieved SOC 2 Type II and ISO 27001:2022 Certifications, which provide a structured approach to managing information security, covering aspects like risk management, access control, data governance, and incident response. In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion, underscoring its legitimacy and stability in the rapidly evolving digital finance landscape. Under the leadership of its new CEO, BC Wong, KuCoin reaffirms its commitment to global growth, innovation, and meeting the highest standards of security and regulatory compliance. As a trusted and forward-looking platform, KuCoin strives to deliver a secure, transparent, and reliable ecosystem for users to thrive in the digital economy. About Backed Founded in 2021, Backed is the leading issuer of compliant tokenized equities and ETFs, including the innovative xStocks line of products. Backed's products are freely transferable ERC-20 and SPL tokens compatible with Ethereum and Solana DeFi ecosystems. For more information, users can visit Media Contactmedia@ | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-07-2025
- Business
- Yahoo
Alchemy Pay secures money transmitter licence in South Carolina, US
Alchemy Pay, a company that provides a fiat-crypto payment gateway, has secured a money transmitter licence (MTL) in the US state of South Carolina. This licence allows the company to offer money transmission, issuing stored value instruments, and currency exchange operations. The MTL has been issued by the South Carolina Attorney General's office in accordance with the South Carolina Anti-Money Laundering Act. With South Carolina now on board, Alchemy Pay holds similar licences in a total of ten US states. The company is preparing to introduce a platform that will provide access to tokenised stocks and ETFs, in collaboration with Backed and xStocks, expected to launch in August. Additionally, Alchemy Pay has been focusing on regulatory compliance on a global scale. The company has secured an authorised payment institution licence in the UK and is registered as a digital currency exchange provider with AUSTRAC in Australia. In Switzerland, it has joined the VQF, an SRO recognised by the Swiss Financial Market Supervisory Authority (FINMA) and holds an MSB registration in Canada and is formally registered to provide electronic financial services in South Korea. Alchemy Pay is pursuing compliance with the European Union's Markets in Crypto-Assets (MiCA) framework and is seeking relevant licences in Hong Kong. In May, Alchemy Pay integrated PayID in its network to provide fiat-to-crypto exchange services in Australia, simplifying AUD to cryptocurrency conversion. PayID is a real-time interbank payment service that facilitates domestic transactions in Australia. "Alchemy Pay secures money transmitter licence in South Carolina, US " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Business Wire
09-07-2025
- Business
- Business Wire
Kraken and Backed Deepen xStocks Reach with BNB Chain Integration
CHEYENNE, Wyo.--(BUSINESS WIRE)--Kraken, a technology platform built on crypto that unlocks access and reduces inefficiencies to drive financial freedom, and Backed, a pioneering issuer of tokenized stocks, today announced a strategic partnership with BNB Chain, one of the world's leading blockchain ecosystems. Through this partnership, BNB Chain joins the rapidly growing xStocks Alliance, further accelerating on-chain access to tokenized U.S. equities for users across the world. In the coming weeks, Kraken will allow xStocks to be deposited and withdrawn from its platform by eligible Kraken clients via BNB Chain. As part of the collaboration, Backed will deploy xStocks - the standard for tokenized equities - on BNB Chain as BEP-20 tokens, giving users seamless access to tokenized representations of U.S.-listed stocks and ETFs. This includes assets like AAPLx, TSLAx, SPYx, and NVDAx. By expanding to BNB Chain, xStocks continues its mission to meet users where they are — bringing traditional equities onchain and opening access for underserved markets around the world. BNB Chain was selected for the alliance due to its high performance, low transaction fees, and its position as one of the largest blockchain ecosystems by on-chain activity. With around $10 billion in TVL and one of the most active Web3 user communities, it offers a strong foundation for growing tokenized asset adoption. Together, Kraken, Backed and BNB Chain remain committed to democratizing investing by enabling 24/7 exposure to U.S. markets — anytime, all over the world. Arjun Sethi, Kraken's Co-CEO said: 'The response to xStocks has made one thing increasingly clear — the future of capital markets will be chain neutral, composable, and multichain by design. Expanding to BNB Chain reinforces our core belief that tokenized equities are not just digital wrappers for traditional assets — they are a foundational upgrade to the financial system itself. These instruments behave as programmable settlement primitives, unlocking atomic settlement, real-time global transferability, and composability with onchain lending, derivatives, and structured products. 'In a world that will inevitably be multichain, it is critical that assets like equities can move fluidly across ecosystems, protocols, and liquidity layers without being gated by jurisdiction or legacy custodial rails. As more chains integrate xStocks, we are not just expanding access — we are building the infrastructure to make equities globally accessible, usable, and interoperable for both retail and institutional capital. This is the beginning of an always-on equity market — one that is permissionless, transparent, and built for the internet.' Adam Levi, co-founder of Backed said: 'xStocks are built as a neutral, public-good asset class, and expanding to BNB Chain is a key step toward making them the standard for tokenized equities. Our goal is to bring traditional finance onto blockchain rails — not just by improving access, but by enabling true composability. Integrated into DeFi, tokenized equities will surpass the scale and utility of stablecoins. With BNB Chain's global reach and deep liquidity, it's a natural partner for advancing that vision.' Sarah S, Head of Business Development at BNB Chain, said: 'Tokenizing real-world assets on BNB Chain is a meaningful step in making global finance more accessible and transparent. Our collaboration with Kraken and Backed reflects BNB Chain's commitment to bringing high-quality financial instruments on-chain and connecting traditional markets with decentralized finance for users around the world.' BNB Chain's addition marks another significant milestone for xStocks, expanding the alliance to one of the world's largest and most active blockchain ecosystems. Recently, Kraken launched over 60 tokenized U.S. equities — deployed by Backed as SPL-tokens on Solana — for users across 140 countries. This strategic partnership signals the next phase in mainstreaming tokenized equities, cementing xStocks' leading role at the forefront of this rapidly evolving digital asset landscape. xStocks are not available in the U.S. or to U.S. persons. Geo restrictions apply. About Kraken Kraken is a technology platform built on crypto that unlocks access and reduces inefficiencies to drive financial freedom — for the crypto economy and beyond. Millions of individuals, professional traders, and institutions around the world use Kraken to trade digital and traditional assets, including cryptocurrencies, national currencies, U.S. futures, and U.S.-listed stocks and ETFs. Kraken markets can be monitored and traded via the web or through the Kraken, Kraken Pro, and Krak iOS and Android apps. Futures platforms by NinjaTrader, a Kraken company, are available on desktop, web, and mobile via For more information about Kraken, please visit About Backed Founded in 2021, Backed is a Swiss-based company creating permissionless tokens tracking the value of publicly listed equities and ETFs. Its flagship product line, xStocks, provides compliant, 1:1-backed tokenized equities available across multiple blockchain ecosystems. About BNB Chain BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption , it's one of the largest chains by trading volume and active users. It is composed of: BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem's governance chain. opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds. BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces. Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. For more, follow BNB Chain on X or start exploring via our Dapp library.
Yahoo
02-07-2025
- Business
- Yahoo
Kraken's tokenized US equities go live on Solana for global users
Kraken's tokenized US equities go live on Solana for global users originally appeared on TheStreet. Kraken has announced the phased rollout of tokenized U.S. equities for eligible non-U.S. users, a major initiative aimed at democratizing access to global financial markets. The initiative leverages Backed's xStocks. They will be issued on the Solana blockchain, offering 60 tokenized assets (comprising top U.S. stocks and ETFs) that are available for 24/7 trading directly from the Krak app. The tokenized equities provide way more than just exposure to the traditional markets. You can withdraw xStocks to self-custodial wallets, use xStocks as collateral in DeFi, and trade them 24/7—all of which make it fundamentally more flexible than the traditional equivalent."For the first time, people all over the world can own and use a share of a tokenized stock like they would use money," said Kraken co-CEO Arjun Sethi. "This is not about novelty—it's about shifting power back to individuals and removing barriers long imposed by geography or institutional gatekeepers." Adam Levi, co-founder of Backed, stated that tokenized equities represent the next stage of crypto evolution, creating a genuine intersection between traditional finance and a decentralized economy. "This is about access, efficiency, and composability on a global scale." The SPL-based tokens represent the first step of a broader rollout, with Kraken and Backed announcing plans to expand to other fast blockchains soon. The launch reforms access to capital markets, allowing them to be non-permissioned, open, and self-custodial. Kraken's tokenized US equities go live on Solana for global users first appeared on TheStreet on Jul 1, 2025 This story was originally reported by TheStreet on Jul 1, 2025, where it first appeared.
