The new platform, xChange, enables cross-chain trading of over 70 tokenized stocks across Ethereum and Solana.

Kraken Financial received a limited purpose Fed master account, marking a notable milestone for crypto-TradFi integration.

The initiative showcases Kraken’s Wyoming roots and the increasing ties between crypto firms and policymakers.

The acquisition closed on Friday and should enable Kraken to work closely with token teams early in development.

Liquidity has surged since October, but daily active users have fallen by more than half from their peak.

The market capitalization of tokenized stocks is approaching $1 billion, from just $32 million at the beginning of the year.

The centralized exchange is set to step further into the real-world asset space.

The move comes after Kraken’s valuation reached $20 billion following an $800 million funding round.

The tokenized stock platform supports Ethereum and other networks, but the majority of capital is concentrated on Solana.

The surge is led by a single protocol, Tydro, launched by Ink itself.