NinjaTrader, Kraken's parent, is expanding its tokenized stock offering beyond US equities to include Hong Kong, UK, and South Korean listed equities, broadening the universe of on-chain equity instruments accessible to institutional and retail participants. The move follows growing demand from market makers and institutional holders seeking to use tokenized equities in DeFi and structured finance contexts.
Armada's crypto-repo desk currently accepts BTC, ETH, SOL, HYPE, and tokenized T-Bills. As tokenized foreign equities proliferate, counterparties, particularly market makers and family offices, may request to post them as collateral. Armada's collateral eligibility policy does not currently contemplate foreign tokenized equities, which carry cross-border regulatory, liquidity, and valuation complexity. The policy should be reviewed before a counterparty request forces an ad-hoc decision.