In short
- Xstocks, a function with which users can trade tokenized versions of companies such as Nvidia, Apple and Meta, is spreading to Tron.
- The tokenized shares are detailed 1: 1 with real shares in the underlying companies.
- So far, Xstocks has generated more than $ 500 million in trade volume on-chain.
Tokenized versions of Tesla, Nvidia, Apple and other large shares are now available to act on the Tron Network Thanks to a collaboration between the Tron Dao, Kraken and Backed – the company behind Xstocks, which offers global investors access to tokenized shares.
The expansion of the position comes shortly after Xstocks has so far overshadowed more than $ 500 million in the trade volume of the chains, According to data from the official dune -dashboard.
“Expanding Xstocks to Tron, a network that arranges more than $ 20 billion every day, will considerably increase the visibility and acceptance of the brand,” said Kraken Global Head of Consumer Mark Greenberg Decrypt. “What is even more important, it brings us closer to a fully permissionless, boundless and interoperable market where everyone can trade the clock around Tokenized shares.”
With the Xstocks function of Backed, users can get exposure to US shares through tokens on chains that are supported 1: 1 with actual shares in every respective company. Earlier available for users on Solana and BNB chain, and offered through centralized fairs such as Kraken, these tokens will now be available via TRC-20 tokens on Tron.
“This collaboration emphasizes how the decentralized network of Tron tokenized shares can bring in a more open, transparent and accessible environment,” said Tron founder Justin Sun, in a statement.
“Tokenized shares represent a natural evolution for crypto, in which traditional markets with blockchain are bridged,” he added. “Because the demand for popular shares meets a global basis of previously excluded users, we see a more efficient, more flexible and accessible market.”
To date, the network is demonstrably best known for its substantial stablecoin use, which has grown by around $ 23 billion in the past year According to Defillama data. The network mainly has $ 82.8 billion in stablecoins Tether’s USDT– only increase Ethereum that at the time of writing, $ 143 billion in stablecoins maintains.
Xstocks have generated more than $ 2.9 billion in volume between centralized exchanges and their decentralized counterparts, although the split falls heavily in favor of centralized exchanges that are good for more than 95% of the volume according to the official Xstocks Dune Dashboard. More than $ 500 million of that trade took place on the chain, according to the dashboard.
The tokenized shares are currently accounting for around $ 46.4 million in assets, of which more than 20% can be attributed to tokenized shares in Tesla by Elon Musk (TSLA).
In terms of larger goals, backed is aimed at continuing to expand its Xstocks product offer.
“Our priority is to expand the Xstocks Alliance-BMore partners, block chains and applications are ringing while we deliver the gold standard in tokenized stock offers, “said Greenberg.” That is where real growth takes place. “
More functions, chain integrations and new offers will be expected in the coming weeks, he added.
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