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yesterday

Kraken and Backed Bring xStocks to TRON in Third Blockchain Integration

The rollout taps TRON’s high-throughput, stablecoin-heavy network to widen access to 1:1-backed tokenized equities.

Kraken, Backed bring xStocks to Tron’s $22b daily network
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Kraken expands tokenized equities to tron blockchain

Overview

  • Backed will issue xStocks as TRC-20 tokens on TRON with full 1:1 backing by underlying shares held with a regulated custodian.
  • Kraken says clients in eligible jurisdictions will be able to deposit and withdraw xStocks via TRON in the coming weeks.
  • The TRON deployment follows earlier launches on Solana and BNB Chain, making this the third chain for xStocks in under two months.
  • xStocks have recorded over $2.5 billion in combined trading volume since launch, with the TRON expansion targeting a network settling about $22 billion daily and hosting over $26 billion in TVL.
  • The product remains unavailable in the United States and to U.S. persons due to geographic restrictions.