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- Kraken plans to launch more than 50 shares and designs for investment funds for non -American customers, including Apple, Tesla and NVIDIA shares.
- Distinguished stocks will be trading around the clock throughout the week on Solana Blockchain, which may reduce fees and settlement times for international investors.
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KRAKEN, one of the largest encryption exchanges in the world, has announced plans to launch symbolic versions of 50 stocks of 50 stocks from the United States and traded investment fund I mentioned Thursday.
This step aims to reduce the barriers that non -American investors seek to be exposed to American stocks, according to the company.
It is described by the product, which bears the Xstocks brand, on Solana Blockchain and begins to launch the coming weeks throughout Europe, Latin America, Africa and Asia.
Kraken says that each Xstock will be supported 1: 1 by the real stocks of the basic asset. The supported partner, supported, will get physical shares or ETF shares and version for a number of distinctive versions on the series.
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A new set of distinctive assets to transfer the way people interact with financing, with more than 50 stocks and investment funds circulating soon @krakenfx and Solana. No limits, no mediators, no barriers.
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Each symbol will be replaced by the cash value of the original, which helps to maintain parity with traditional markets. Like encrypted currencies, XSTOCKS 24/7 – including nights, weekends and holidays – will travel when closing traditional exchanges.
Krakin says its goal is to reach American stocks faster, cheaper and more flexible for investors all over the world. Currently, many foreign investors face high mediation fees, the availability of limited assets, and long settlement times when buying American stocks through local financial brokers.
According to Kraken Co-CEO Arjun Sethi, the general symbol on general Blockchain can help solve these challenges. In an interview with The Block in April, Sethi said that distinctive stocks can eventually exceed Stablecoins in the market size due to their transparency and global access to it.
Distinguished stocks are not a new concept, but they were controversial.
In 2021, Binance tried a similar initiative, as it provided symbolic versions of Coinbase and Tesla stock. The product allowed users to trade broken stocks through the settled in the Binance USD (Busd).
However, after organizational scrutiny and increased pressure from the authorities in multiple judicial states, Binance stopped the product later that year.
Kraken’s spokesman told the magazine that the company “operates actively with various organizers” because it expands the distinctive stock offers all over the world.
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