Blockchain Innovations: New Cross-Chain Solutions and Predictions Market Launch

Backed Finance has unveiled xBridge, a new cross-chain bridge developed in partnership with Chainlink, designed to facilitate the transfer of tokenized stocks between Ethereum and Solana without losing track of corporate actions such as stock splits and dividends, as reported by CoinDesk.

The xBridge enables the movement of tokenized equities, referred to as xStocks, which are 1:1 backed by real-world stocks or ETFs, ensuring their behavior on-chain reflects real-world events. This innovation aims to enhance interoperability in the blockchain space and allows tokenized stocks to flow freely like any other crypto asset.

Meanwhile, Bitnomial Clearinghouse LLC has received approval from the US Commodity Futures Trading Commission to launch prediction markets, expanding its offerings beyond Bitcoin and crypto derivatives.

According to Cointelegraph, Bitnomial's prediction market will cover various crypto and economic events, allowing traders to speculate on outcomes like token price levels and macroeconomic data. This approval is part of Bitnomial's strategy to build a clearing network that strengthens the prediction market ecosystem, with a focus on fully collateralized swaps and a range of trading products including perpetuals and options contracts.