- Kamino, xStocks and Chainlink enable their customers to trade tokenized assets such as METAx, GOOGLx and TSLAx.
- It builds on the existing collaboration between these platforms.
Given the increasing importance of RWA tokenization in global finance, Kamino, a Solana-based liquidity protocol, has partnered with xStocks. Building on the existing partnership with Chainlink, Kamino opens new doors for users by allowing them to purchase tokenized stocks such as METAx, GOOGLx, TSLAx and NVDAx directly through Kamino Swap.
Kamino strengthens its partnership with Chainlink with this new step
In a recently published X-Post Kamino Finance announced its strategic partnership with xStocks, allowing users direct exposure to stocks and ETFs. The platform explained,
“xStocks brings stocks and ETFs onto the onchain through Backedfi. Tokenized assets are backed 1:1 by the underlying asset, held at regulated custodians, and settle dividends via automatic switching. They are fully transferable, available 24/7 on Solana, and can be assembled via Kamino.”
Significantly, this move enables trading of tokenized stocks such as METAx, GOOGLx and TSLAx. This could be made possible through simple procedures via xStocks. Initially, users could purchase tokenized shares through Kamino Swap and stake them as collateral on Lend. Through Multiply, users can also get up to 2x leverage on other leading stocks like SPYx and QQQx.
As part of the existing partnership between Chainlink and Kamino, the crypto platform allows users to monitor and compare prices across multiple US exchanges, reducing the risk of market manipulation.
It is noteworthy that Backed has achieved significant growth with its xStocks tokenized stock project on Solana. As mentioned in our previous article, the platform’s trading volume reached a massive $2.1 billion in just a few weeks.
Chainlink cooperation with Kamino and xStocks
Earlier this year, Chainlink announced its alliance with Kamino. As part of this connection, Kamino integrated Chainlink data streams to ensure accurate pricing of tokenized stocks. Kamino then partnered with xStocks and enabled tokenized stock lending on Solana. This offers users the opportunity to use tokenized stocks as collateral.
At the time of launch, eight tokenized stocks were supported. These include APPLx, GOOGLx, HOODx, MSTRx, NVDAx, QQQx, SPYx and TSLAx. The Chainlink Data Streams solution allows users to obtain reliable high-frequency market data.
Recently, the German company AllUnity integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This is a sign of the growing adoption of the blockchain platform across various industries.
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