Backed allows traders to trade stocks such as NVDA and MSTR on the Solana chain."
Cybercurrency traders can now put shares of Nvidia, Tesla and Strategy in their Solana wallets thanks to a new feature called xStocks, Internet reports. This feature introduces tokens tied 1:1 to the shares of specific listed companies into the Solana blockchain. The feature, launched by tokenization company Backed, was launched this week on centralized exchanges Kraken and Bybit in some regions. It is also launched natively on the Solana blockchain, allowing traders to gain exposure to popular U.S. stocks including Meta, Netflix, Coinbase and McDonald's on the chain. In other words, eligible users can exchange cryptocurrency or fiat for stocks on the above-mentioned exchanges, or exchange any Solana token for xStock of their choice through decentralized protocols such as Jupiter or Raydium.
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