tl;dr
Kraken is launching xStocks, a product allowing users outside the US to trade tokenized versions of major US stocks and ETFs like Apple, Tesla, and Nvidia 24/7 via the Solana blockchain. These SPL tokens enable onchain uses such as collateral in decentralized apps, offering faster, cheaper, and more...
Kraken is set to revolutionize access to US equities with the upcoming launch of xStocks, which enables 24/7 trading of tokenized US stocks and ETFs for select non-US countries via the Solana blockchain.
By tokenizing popular US-listed assets like Apple, Tesla, and Nvidia as SPL tokens on Solana, xStocks offers faster, cheaper, and more inclusive access compared to traditional brokerage systems. These tokenized assets can also be utilized on-chain in decentralized applications, opening up new use cases beyond mere trading.
The product is developed in partnership with Backed and complements Kraken’s recent expansion into stock trading, following its acquisition of NinjaTrader. Kraken plans to extend xStocks to additional jurisdictions and a wider range of tokenized assets, aiming to democratize access to US markets through blockchain technology.
Mark Greenberg, Kraken’s Global Head of Consumer, highlighted that xStocks addresses the limitations of current equity markets, which are often slow, expensive, and geographically restricted. He stated that this initiative "is what the future of investing looks like."
This move aligns with a broader trend toward tokenized real-world assets and the growing demand for open financial infrastructure powered by digital rails. Kraken continues to expand its conventional equities service in the US with over 11,000 stocks and ETFs and plans to launch these offerings in the UK, Europe, and Australia, while xStocks represents the blockchain-powered parallel offering for global users.