Today, we’re excited to announce the phased launch of tokenized U.S. equities through Kraken’s platform, giving eligible non-U.S. clients seamless exposure to some of America’s most iconic stocks and ETFs. This marks a major milestone in our ambition to democratize investing, while leveraging the power of crypto innovation to reimagine the future of investing.
Powered by Backed’s groundbreaking xStocks, we are today listing 60 different tokenized assets directly in the Kraken app. We plan to expand the number of available assets over time.
xStocks are available to trade on Kraken 24 hours a day, five days a week and can be withdrawn to self-custodial wallets — giving users 24/7, year-round flexibility to use xStocks onchain as collateral across DeFi in ways traditional equities simply can’t compete with.
We begin our phased rollout today, with plans to expand xStocks support to 185+ countries worldwide over the next several days.
Learn more about xStocks on Kraken
“With xStocks, we’re not launching a novelty. We’re unlocking something foundational,” said Arjun Sethi, Kraken co-CEO. “For the first time, people all over the world can own and use a share of a tokenized stock like they would use money. You can move it, hold it, spend it or borrow against it. All from your wallet, with no intermediaries, no borders and no delays.”
“This is not just about access to markets. It is about shifting power back to the individual. For decades, financial systems were designed around institutions. Slow, gated and exclusive. We are changing that. xStocks gives anyone with a smartphone the ability to participate in global wealth creation; to save, invest and build a better future. Not because they are accredited or privileged, but because they showed up.”
“The long arc of innovation bends toward openness. This is one step closer to making capital markets work for everyone, everywhere.”
Adam Levi, co-founder at Backed, said, “Tokenized equities are the next step for crypto as the space matures from niche digital assets into a market that serves a global audience. This opportunity comes from the tokenization of in-demand equities meeting the influx of previously excluded users, eventually culminating in a market that’s both more efficient, composable and accessible than traditional finance.”
Our initial launch of xStocks commences with SPL-based tokens that have been deployed on the Solana blockchain. Over the coming weeks, we’ll be working with the Backed team to bring xStocks to Kraken clients across a range of other high-performance blockchains.
We believe this isn’t just a new feature, it’s a fundamental shift in how billions of investors will engage with traditional markets, free from costly intermediaries and open around the clock. The future of investing is permissionless, self-custodial and built for everyone.
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xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible customers via Payward Digital Solutions Ltd. (“PDSL”), a company incorporated under the laws of Bermuda and licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not nor will be registered with any local securities regulators. PDSL (Kraken) does not provide investment advice and/or recommendations, and, no communication, through any Kraken App or website or otherwise, should be construed as such. Individual investors should make their own decisions or seek professional independent advice if they are unsure as to the suitability / appropriateness of any investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk and may not be suitable for everyone. The value of an investment may go down as well as up and past performance is not a reliable indicator of future results. Not available in the U.S. or to U.S. persons. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for the xStocks (available on backed.fi) to learn more.
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