Cake Wallet launches xStocks: invest in tokenized stocks with Monero, Bitcoin, and Ethereum

Cake Wallet, the renowned open-source wallet focused on privacy, takes a revolutionary step by introducing xStocks: users can now purchase tokenized stocks and ETFs directly from the app, using Monero, Bitcoin, or Ethereum. 

This means being able to invest in stocks of giants like Google, Amazon, and Nvidia, without going through banks or traditional intermediaries.

Cake Wallet integrates xStocks: invest in stocks with crypto

The new xStocks feature allows Cake Wallet users to access a wide range of blue-chip stocks and popular ETFs, all through a fully self-custodial experience. In other words, every transaction takes place in an environment where the user retains full control of their funds and investments, without relying on third parties.

According to Vikrant Sharma, CEO of Cake Labs:

This philosophy translates into an autonomous management of both savings and investments, completely outside of traditional financial circuits.

An increasingly rich DeFi ecosystem

The introduction of xStocks further expands the suite of DeFi services offered by Cake Wallet. Earlier this year, the platform launched dEURO, a stablecoin pegged to the digital euro that offers an annual yield of 10% on deposited amounts. Now, with the arrival of xStocks, users can both generate yields and invest in stocks, all without ever leaving the decentralized ecosystem of Cake Wallet.

The new feature is made possible thanks to the integration of the LetsExchange API, a reliable solution that allows cryptocurrency swaps directly within the app. Alex J., Chief Product Officer of LetsExchange, commented: 

Global Accessibility and Regulatory Limits

xStocks will be available in almost every country in the world, offering unprecedented access to stock investments through cryptocurrencies. However, due to regulatory restrictions, the service will not be accessible in the United States, Australia, Canada, Belgium, United Kingdom, Afghanistan, Belarus, Cuba, Iran, and North Korea.

This choice reflects Cake Wallet’s focus on adhering to international regulations while maintaining the mission of making decentralized finance accessible to as many people as possible.

Cake Wallet: privacy, security, and innovation

Cake Wallet stands out as an open-source and self-custodial application, designed to simplify the use of cryptocurrencies for all experience levels. The wallet supports major cryptocurrencies and stablecoins, offering advanced features such as integrated swaps, multi-asset management, and privacy tools like Silent Payments and integration with Tor.

The addition of xStocks fits perfectly into this vision, offering users the ability to manage savings, investments, and privacy on a single platform, without compromising on security or ease of use.

A New Paradigm for the Modern Investor

The possibility of purchasing tokenized shares through Monero, Bitcoin or Ethereum represents a significant breakthrough for those wishing to invest independently and securely. By eliminating the need for banks and brokers, Cake Wallet offers an innovative solution that meets the needs of an audience increasingly attentive to privacy and direct control of their financial resources.

With the integration of xStocks, Cake Wallet confirms its role as a pioneer in DeFi, offering cutting-edge tools for fully decentralized and accessible financial management.

Conclusions: the Future of Investment is Decentralized

The arrival of xStocks on Cake Wallet marks another step towards a future where anyone can invest, save, and manage their assets with complete autonomy and security. Thanks to a platform that combines privacy, ease of use, and innovation, Cake Wallet positions itself as a reference point for those seeking concrete alternatives to traditional finance.

In the current landscape, where the demand for decentralized solutions is constantly growing, the integration of xStocks represents a concrete response to the needs for transparency, control, and financial freedom. Cake Wallet continues to redefine the boundaries of digital investment, offering new opportunities to a global audience of users.