Cryptocurrency exchange Kraken plans to introduce tokenized trading of more than 50 U.S. stocks and exchange-traded funds, starting with Apple, Tesla and Nvidia, for customers outside the United States. The digital securities, branded “xStocks,” will be available in the coming weeks to users in Europe, Latin America, Africa and Asia, with expansion to the U.K. and Australia expected later.

The tokens will be issued by partner BackedFi and trade around the clock on the Solana blockchain, allowing investors to buy, sell or hold the assets even when U.S. equity markets are closed. Kraken says each token will be backed one-for-one by the underlying share or ETF, mirroring the price of securities such as the SPDR S&P 500 ETF and SPDR Gold Shares.

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