Cake Wallet has integrated xStocks, enabling global users to trade tokenized versions of US stocks such as Google, Amazon, and Nvidia. This integration emphasizes privacy and aims to lower entry barriers for users. The tokenized stocks are issued by Switzerland-based Backed.fi, which has been operational since 2021. However, users do not have voting rights, and the dividend mechanism remains unspecified. Due to regulatory restrictions, the service is unavailable in several countries, including the United States, Australia, and the United Kingdom. Geo-screening based on IP addresses may be implemented to enforce these restrictions. A similar service has been launched by Phantom, which also prioritizes user privacy by not requiring personal information beyond private keys.
Cake Wallet Integrates xStocks for Tokenized US Stock Trading
This content is for informational purposes only and does not constitute investment advice.
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