Trust Wallet Empowers Users with Tokenized Equities
Trust Wallet is revolutionizing how users interact with U.S. equities through it’s latest partnership.
Trust Wallet is now collaborating with the xStocks Alliance, a group spearheaded by Kraken adn Backed Finance, to bring tokenized U.S. equities to its vast user base.This move aims to democratize customary stock ownership by making it accessible via digital wallets.
Users can seamlessly purchase, hold, and manage tokenized versions of popular stocks like Apple and Tesla through Trust Wallet.The integration supports various blockchains such as Ethereum, Solana, and BNB Chain, streamlining the experience with local fiat currencies.
- Kraken acts as a pivotal liquidity hub, ensuring market depth for these tokenized equities.
- Each digital token is fully collateralized with its corresponding real-world asset, guaranteeing a one-to-one backing.
According to Arjun Sethi, Kraken’s co-CEO, this innovation paves the way for widespread adoption of tokenized stocks. Eowyn Chen, Trust Wallet’s CEO, concurs, emphasizing this integration bridges traditional finance and Web3, enabling effortless cross-border transactions.
Launched in june, xStocks has already recorded over $4 billion in trade volume, capturing important interest in this emerging financial avenue.
