Kraken partnered with Backed Finance, a firm specialising in tokenised securities, to launch a new set of tokenised stocks and ETFs deployed on Solana and intended for integration with decentralised finance applications under the xStocks brand

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Backed is thrilled to unveil xStocks, a new line of over 55 tokenized stocks and ETFs, set to launch soon on Kraken and integrated with Solana’s best DeFi apps,”

Kraken refers to its new breed of tokens with the brand name “xStocks.” They will be deployed on the Solana blockchain platform.

The initiative is being facilitated through a partnership with tokenization firm Backed.