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Kucoin launches token stocks after Kraken, Bybit and Robinhood

Kucoin launches token stocks after Kraken, Bybit and Robinhood


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    cryptocurrency exchange Kucoin has launched Xstocks, a new product that offers tokenized versions of major U.S. stocks, including Tesla, NVIDIA and S&P 500 ETFs. These assets are now available for transactions on Kucoin and are listed as in USDT.

    The exchange, which is linked to two other large cryptocurrency exchanges, Kraken and Bybit, recently announced their list of tokenized U.S. stocks.

    Trends are an important step in bringing traditional stocks into the blockchain infrastructure, allowing global investors to encrypt their exposure to local access to the U.S. stock market.

    Kraken, Bystian, Robinhood and November

    Like Kraken and Bybit Kucoin It is mentioned that the token stock is issued by a Swiss company, which is backed by and holds real stocks in a third-party regulated custodian with a 1:1 support. The token is built on the Solana blockchain.

    Nvidia became the world’s first $4 trillion company on July 10. Just four days later, Bitcoin Over $120,000 all-time high. Kucoin launches token stocks with the aim of allowing users to transfer between high-growth technology stocks and cryptocurrencies without leaving the platform. The company highlights the benefits of providing asset classes in a single account.

    The Xstocks platform enables users around the world to buy and sell token stocks using USDT. This eliminates the need for Fiat-style ramps or third-party brokers. According to Kucoin, the platform supports seamless switching between crypto assets and tokenized stocks in the same interface.

    Global access and upcoming transparency features

    Kucoin said the product line is used in countries than any other USDT-led equity platform. Currently, the exchange serves 41 million users in more than 200 regions.

    Each Xstock token gives holders a claim on the underlying stock and provides a comprehensive mortgage. Kucoin also announced that it will soon add proof of reserves powered by ChainLink to provide asset-backed chain verification.

    Read more: Symbolic stock mania: Two large cryptocurrency exchanges are nearly 2 hours apart

    Robinhood also deepens the driving force of its cryptocurrency by planning to launch token trading and developing its own plans Blockchain The network of arbitrators.

    However, Robinhood quickly worked to bring high-profile stakes in companies such as Openai and SpaceX Facing EU scrutiny. In the regulatory inquiry by the Lithuanian central bank, Openai is also far away from the product.

    This article was written by Jared Kirui on www.financemagnates.com. (Tagstotranslate) Kucoin



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