In partnership with Backed, Kraken is bringing xStocks to the Ethereum blockchain, unlocking a new wave of opportunities for tokenized stocks and ETFs to be integrated across the world’s most widely adopted smart contract network. By extending Kraken’s support of xStocks to Ethereum, we’re enabling millions of Ethereum users and thousands of live applications to source the industry standard for tokenized equities liquidity. In the coming weeks, eligible Kraken clients will be able to deposit and withdraw xStocks directly on Ethereum, providing investors greater choice and flexibility to transfer assets between the Kraken platform and self-custodial wallets for on-chain activity. As part of the integration, Backed will issue xStocks as ERC-20 tokens on Ethereum, ensuring full 1:1 collateralization for every tokenized equity listed on Kraken’s platform. Ethereum ecosystem partners will also work to expand xStocks integrations across DeFi protocols, wallets and dApps — bringing tokenized equities into one of the largest and most innovative communities in Web3. Having already launched xStocks to Kraken clients via Solana — and following recent announcements of upcoming integrations with BNB chain and the TRON network — xStocks have quickly become established as the global standard for tokenized equities.