In the coming weeks, users of RWA platform xStocks, launched and supported by crypto exchange Kraken, will be able to trade tokenized stocks on the TRON blockchain.
Kraken and Backed, in partnership with TRON DAO, are integrating the TRON blockchain into the xStocks platform. As part of the integration, Backed will issue TRC-20 standard tokenized stocks, maintaining full collateral for each tokenized asset available on the platform. Kraken clients in eligible jurisdictions will gain access to TRON functionality in the coming weeks.
TRON was chosen for its scalability, low transaction costs, and global reach. According to the partners, this will connect existing demand for popular stocks with a broad user base accustomed to low-cost, high-speed on-chain transactions, bringing these benefits to the tokenized securities market. In addition, TRON DAO plans to engage ecosystem partners to support xStocks widely, expanding the circulation channels for tokenized stocks.
The launch of xStocks was announced by Kraken in late May 2025. The service began operations at the end of June, and by mid-July, it accounted for over 65% of the tokenized stocks market.
Currently, xStocks is available to Kraken clients in over 140 countries. The platform features tokenized shares of more than 50 major U.S. companies and ETFs, with total trading volume on both CEX and DEX exceeding $2.5 billion since launch. Besides TRON, the platform also supports Solana and BNB Chain.
Kraken and Backed’s strategy involves gradually expanding support for high-performance blockchains, with plans to integrate additional chains in the future. The goal is to provide permissionless and interoperable access to the stock market in an on-chain format, maintaining the link between each tokenized stock and its underlying asset, and enabling seamless movement between blockchains.
The press release notes that xStocks operates with full on-chain transparency, each asset is fully collateralized, i.e., backed 1:1 by real underlying securities held by a trusted custodian, with collateral status verifiable in real time.
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