May 23, 07:56 PM

Kraken Launches 24/7 Tokenized U.S. Stocks on Solana; Chainlink Secures 68% Oracle TVL, Alpenglow Upgrade Announced

The Solana Accelerate 2025 conference in New York City showcased developments in blockchain and asset tokenization, with a focus on integrating traditional finance and decentralized platforms. Kraken, in partnership with Backed and the Solana Foundation, launched xStocks on Solana, offering tokenized U.S. stocks and ETFs using the SPL standard. These assets, including Apple, Tesla, and Nvidia, are available for 24/7 trading to eligible non-U.S. users via the Kraken app. JPMorgan settled treasuries on a public blockchain, and Galaxy Digital listed on Nasdaq with plans to tokenize its shares. Drift is partnering with Securitize to bring real-world asset tokenization to Solana. Chainlink now secures over 68% of all oracle total value locked (TVL), with $66 billion total value secured (TVS), and powers 81.93% of Ethereum’s oracle infrastructure. TRON has sunset WinkLink in favor of Chainlink, and top Solana DeFi projects Kamino and Jupiter have adopted Chainlink. At the event, former CFTC Chairman Christopher Giancarlo predicted that within 10 years, all significant securities, debt, and equity offerings will be tokenized and on-chain. SkyBridge Capital CEO Anthony Scaramucci said Solana will be the principal operating layer for tokenization of real-world assets, stocks, and bonds. Solana announced the Alpenglow consensus upgrade, expected to increase network speed by 100 times. The conference also included discussions on regulatory progress, Bitcoin growth, and the role of bank-issued stablecoins. Recent data indicates new issuance of real-world assets is at record levels: stablecoins at about $1 billion monthly, treasuries and private credit at $500 million to $1 billion monthly, and tokenized stock trading volume nearing $500 million in 2025.

Written with ChatGPT (GPT-4).

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