xStocks Brings Tokenized Stocks to Hyperliquid's HyperCore

xStocks, a tokenized stock platform from Kraken, has launched its spot tokenized stocks on Hyperliquid's HyperCore. The first phase includes five assets: Nvidia, S&P 500 ETF, Nasdaq-100 ETF, SK Hynix, and Micron.

The selection of these assets is based on their high open interest in Hyperliquid's equity perpetual markets. The xStocks platform offers users a way to access spot trading of popular US stocks and indices on one of the biggest decentralized perpetual futures platforms.

xStocks GM Val Gui stated that 'Hyperliquid has one of the most engaged onchain trader bases found anywhere and has strong product-market fit as a venue for price discovery when traditional markets are closed.'

The integration with HyperEVM allows users to transfer assets into Hyperliquid using Chainlink's CCIP bridge. Tokens can be used in DeFi applications like lending collateral, and major market makers can provide liquidity for round-the-clock trading.