In a sign of growing momentum behind tokenized finance, two major crypto exchanges, Kraken and Bybit, unveiled their listings of tokenized U.S. stocks just two hours apart.

The coordinated launches mark a significant milestone in efforts to bring traditional equities onto blockchain rails and offer global investors access to Wall Street in crypto-native form.

Kraken was first to make its move today (Monday), launching 60 tokenized equities under the xStocks brand, powered by Swiss issuer Backed. The offering includes prominent names like Apple, Tesla, and ETFs such as SPY. Two hours later, Bybit, currently the second-largest exchange by crypto trading volume, announced the same product integration on its Spot platform.

Both exchanges are targeting non-U.S. users and promoting the 24/5 trading access and DeFi compatibility that tokenized stocks can unlock.

Kraken Rolls Out Equities for On-Chain Use

Kraken’s launch signals a broader ambition to decentralize access to traditional markets. Its xStocks are built on the Solana blockchain and allow users not only to trade them on the exchange but also to withdraw them to self-custody wallets.

From there, users can deploy them as collateral across decentralized finance protocols, something conventional stocks can’t match. The exchange plans to expand access to xStocks across more than 185 countries in the coming weeks, with support for additional blockchains to follow.

“For the first time, people all over the world can own and use a share of a tokenized stock like they would use money. You can move it, hold it, spend it, or borrow against it. All from your wallet, with no intermediaries, no borders, and no delays,” Arjun Sethi, Kraken’s co-CEO, commented.

Bybit Follows with TradFi-Crypto Bridge

Just hours after Kraken’s announcement, Bybit revealed its own xStocks listing. The move fits into its broader TradFi expansion, which includes gold, forex, and CFD trading via its app.

Bybit’s listing supports Ethereum (ERC-20) and Solana (SPL) versions of xStocks, and includes the same basket of high-demand equities. Emily Bao, Bybit’s Head of Spot, said the exchange aims to provide users with more control and choice while remaining within the crypto ecosystem.

“By listing tokenized equities and ETFs, we’re not just adding new products, we’re empowering our users with greater choice, deeper flexibility, and more control, all within the secure and seamless Bybit experience. xStocks was the clear choice to help us deliver this unparalleled access,” commented Emily Bao, Head of Spot at Bybit.

xStocks offer features such as traditional equities can’t, fractional ownership, on-chain mobility, and round-the-clock trading. By listing them nearly simultaneously, Kraken and Bybit are positioning themselves at the frontier of financial infrastructure.

This article was written by Jared Kirui at www.financemagnates.com.CryptoCurrencyRead More

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