#xstocks

[rwatimes]

Robinhood Tokenized Stocks Enters a Race That’s Already Crowded

Robinhood tokenized stocks launch into a crowded market where ownership structure may matter more than distribution.

➤ Robinhood has launched tokenized stocks into a market already dominated by Ondo, xStocks, and Binance, facing significant competition. ➤ Robinhood's tokenized stocks are structured as debt securities, offering price exposure but not actual ownership rights or shareholder protections. ➤ The success of Robinhood's launch hinges on its brand and distribution capabilities, but the lack of true ownership may hinder adoption compared to competitors.

[rwatimes]

xStocks are now eligible as collateral for futures and margin trading on Kraken Pro

Eligible xStocks are recognized automatically as collateral wherever futures and margin trading are available on your account.

➤ Kraken Pro now accepts tokenized equities (xStocks) as collateral for futures and margin trading, enhancing capital efficiency for traders. ➤ Ten specific xStock assets, including major ETFs and equities like SPYx, QQQx, AAPLx, GOOGLx, TSLAx, and NVDAx, are eligible, with varying haircuts and collateral limits. ➤ This feature is available to eligible clients outside the US (futures) and outside the EEA (margin), offering a familiar entry point for leveraged trading using existing holdings.

[rwatimes]

Introducing the Kraken API Partner Program: turn your platform into a global crypto and capital markets venue

Integrate Kraken’s API to enable spot and futures trading (including tokenized equities via xStocks) while earning lifetime commissions

➤ Kraken launches an API Partner Program enabling platforms to integrate spot, futures, and tokenized equity (xStocks) trading. ➤ Partners will earn lifetime commissions through a tiered framework and receive support including a real-time dashboard and dedicated account management. ➤ The program leverages Kraken's extensive operational history, transaction volume, and global regulatory infrastructure to enhance platform offerings.

[rwatimes]

Open Interest Update: One of These Coins (Spoiler: Solana) is Not Like the Others!

➤ Solana's open interest has surged by 17.3% to a 5-week high of $2.3B, significantly outpacing Bitcoin and Ethereum. ➤ This surge is attributed to Solana's increasing prominence in tokenized equities and on-chain trading products, attracting trader positioning. ➤ While this indicates growing market attention and potential for early positioning, it also introduces increased volatility risk.

[rwatimes]

Solana Seeing Huge Lift With Boost From Tokenized Stock

➤ Solana's on-chain activity, measured by active addresses, has reached a 4-month high, driven by a surge in tokenized stocks. ➤ The network is increasingly being utilized for real trading activities, including tokenized equities, DeFi, and stablecoins, attracting both institutional and retail users. ➤ This increased network activity provides strong support for Solana's recent price rebound, indicating a potential sustained growth in its ecosystem.

[rwatimes]

Payward Services to Unlock Pre-IPO Access to Bending Spoons Through xStocks

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➤ Payward Services, through its xStocks platform, is offering pre-IPO access to the Italian tech company Bending Spoons, enabling global retail investors to participate in IPOs. ➤ This initiative aims to democratize access to primary market offerings, which have traditionally been exclusive to institutional investors or those in specific geographies. ➤ xStocks are 1:1 backed by underlying shares, held in custody by regulated entities, and offer on-chain transferability and DeFi integration.

[rwatimes]

Bending Spoons IPO access now available via xStocks

Customers in the EEA and many global markets: you can now register your interest in the IPO of the company behind WeTransfer, Evernote, and Vimeo

➤ Kraken is offering eligible customers in the EEA and global markets early access to the Bending Spoons IPO via its xStocks platform. ➤ Successful applicants will receive BSPx, a 1:1 tokenized representation of Bending Spoons equity, tradable 24/5 on Kraken and compatible DeFi venues from listing day. ➤ This initiative aims to democratize IPO access for retail investors, providing them with opportunities previously reserved for institutions.

[rwatimes]

xStocks Officially Endorses NestUSD, the First DeFi Borrowing Protocol for Tokenized Equities on Solana

xStocks officially endorsed NestUSD on June 26, the first DeFi protocol letting holders of tokenized US equities borrow nUSD at 3% APR or stake for 6% APY.

➤ xStocks has officially endorsed NestUSD, a new DeFi protocol on Solana that allows holders of tokenized US equities to borrow nUSD (a dollar-pegged stablecoin) against their holdings. ➤ NestUSD enables users to deposit xStock tokens as collateral, borrow nUSD at 3% APR, and stake the stablecoin for a 6% APY, with stability fees directed to stakers. ➤ The protocol's launch and endorsement highlight the growing infrastructure for tokenized equities on Solana, with xStocks reaching a significant supply and trading volume, though NestUSD faces early-stage risks common to new DeFi protocols.