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Cryptocurrency exchange Kraken is launching a new service called “xStocks” that will allow non-U.S. customers to trade tokenized versions of over 50 popular U.S. stocks and ETFs, including major names like Apple, Tesla, and Nvidia. This initiative aims to provide 24/7 trading access to these assets, even when traditional U.S. markets are closed.
Key aspects of this launch include:
* 24/7 Trading: Unlike traditional stock exchanges that operate on limited hours, xStocks will enable continuous trading, including nights, weekends, and holidays.
* Tokenization on Solana: The tokenized equities will be issued as SPL tokens on the Solana blockchain, leveraging its high performance and low latency.
* Backed by Real Shares: Each xStock token will represent actual shares held 1:1 by Backed Finance, ensuring that their prices remain aligned with the underlying securities. These tokens will also be redeemable for the cash value of the assets.
* Global Access (Excluding U.S.): The service will be rolled out in the coming weeks across Europe, Latin America, Africa, and Asia, with a focus on democratizing access to U.S. equities for international investors. However, it will not be available to customers in the United States.
* Reduced Fees and Faster Settlement: Kraken aims to address the high fees and slow settlement times often associated with purchasing U.S. stocks through local brokerages by offering a more efficient digital alternative.
* Decentralized Applications: The tokenized assets can also be used in decentralized applications (dApps), potentially as collateral, which is not possible with traditional stock market holdings.
This move by Kraken follows its recent expansion into conventional equities trading for U.S.-based clients and signifies a further step into tokenized real-world assets (RWAs), driven by the demand for open financial infrastructure and the efficiencies of digital rails.

Video courtesy of Eurex

Video courtesy of Eurex