Kraken-backed xStocks have gone live on 360X, giving
Deutsche Börse Group clients access to tokenized versions of major equities on
a regulated secondary trading venue. The move is the first major product
milestone under the partnership that Kraken and Deutsche Börse Group announced
in December.
According to the company, participants on 360X can trade five
xStocks instruments, CRCLx, GOOGLx, NVDAx, SPYx and TSLAx, against
stablecoins. The listing broadens institutional access to the
xStocks standard and aims to support further growth in trading volumes and
unique holders.
Track Established Equity and ETF Markets
xStocks launched last year and have reportedly generated
nearly 20 billion dollars in total trading volume since then. Each token is
backed one-to-one by the underlying equity or ETF, which a licensed custodian
holds in a bankruptcy-remote structure.
Continue reading: From Chat to Stock: xStocks Puts Tokenized U.S. Equities Inside TON Wallet on Telegram
Mark Greenberg, Global Head of Consumer and Vice
President of Product for xStocks, highlighted that the demand has come from investors who want
digital instruments that track established markets.
“The rapid adoption of xStocks reflects strong global
demand for digitally native instruments that provide exposure to established
financial markets,” said Greenberg. “Integrating with a leading distribution
channel like 360X means Deutsche Börse Group clients can now access one of the
most liquid ecosystems for tokenized financial instruments.”
He added that integration with 360X gives Deutsche
Börse Group clients access to a liquid ecosystem for tokenized financial
instruments and enables round-the-clock trading with instant settlement.
Aiming for Round-the-Clock Trading
360T is Deutsche Börse Group’s global FX trading platform, focused on institutional foreign exchange and short-term money market products, and now also offers an integrated institutional crypto spot venue. 360X, by contrast, is a separate regulated secondary trading venue for tokenized financial instruments, including credits, rates, equities and funds.
The latest partnership between the crypto exchange and Deutsche Börse
Group spans foreign exchange, custody, settlement and tokenized assets. The
firms aim to combine regulated market infrastructure with crypto-native
capabilities for institutional clients. However, xStocks on 360X not available to
U.S. clients.
Earlier, xStocks debut its tokenized equities on the TON blockchain, allowing Telegram’s nearly 100 million users to buy and trade
fully backed versions of U.S. stocks and ETFs directly through the app’s
built-in TON Wallet. The integration brought traditional financial assets
onchain, expanding investment access within Telegram’s fast-growing ecosystem.
This article was written by Jared Kirui at www.financemagnates.com.
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