Crypto exchange Kraken plans to launch tokenized versions of more than 50 stocks and exchange-traded funds, including shares of Apple, Tesla, Nvidia, the Wall Street Journal reported on Thursday.
The move will allow non-U.S. customers to trade shares of these and other high-profile companies in the form of tokens, the report said, citing a company statement.
Tokenization refers to the process of issuing digital representations of publicly-traded securities.
Instead of holding the securities directly, investors hold tokens that represents ownership of the securities.
The tokenized versions of the stocks would trade 24 hours a day, 7 days a week on Kraken, the report added.
Kraken did not immediately respond to a Reuters request for comment.