Cake Wallet users can now trade tokenized versions of major companies like Google and Amazon, powered by Backed.fi, while maintaining privacy and low entry barriers, with some regional restrictions due to regulatory issues.
Cake Labs has integrated xStocks into Cake Wallet, allowing global users to trade tokenized equities like Google, Amazon, and Nvidia. The service, operated by Swiss company Backed.fi, focuses on privacy and minimal personal data collection. Due to regulatory restrictions, the service is unavailable in certain countries, including the U.S., Australia, Canada, and the UK. xStocks provides a decentralized alternative for crypto-native users to trade major equities, excluding traditional finance platforms’ entry barriers.