Crypto exchange Kraken has introduced xStocks, a tokenized securities trading product designed to give European investors easier access to popular global stocks and exchange-traded funds (ETFs). The launch, made available through Kraken’s PEDSL-CY entity, marks a significant step in merging traditional financial markets with blockchain-based solutions.
The exchange stated that xStocks will be available exclusively to clients within the European Union who either qualify as professional investors or successfully complete an appropriateness assessment. The product is not registered under the U.S. Securities Act and is therefore unavailable to investors based in the United States.
Structure and functionality of xStocks
Kraken clarified that xStocks operate as tokenized certificates reflecting the market prices of real-world U.S. stocks and ETFs. Each token is issued on-chain as either an SPL or BNB token and is backed on a one-to-one basis by the underlying security. However, unlike conventional shares, these instruments do not carry shareholder privileges such as voting rights or dividend entitlements. Instead, they provide exposure solely to the price movements of the underlying assets.
The instruments are issued by Backed Assets (JE) Limited, a company based in Jersey, which ensures the link between the digital tokens and traditional securities.
At launch, Kraken is offering 60 different assets through the platform, consisting of 55 stocks and 5 ETFs. The list includes widely recognized companies such as Tesla, Apple, and GameStop, allowing investors to gain exposure to high-profile equities via blockchain infrastructure.
Trading flexibility and accessibility
One of the product’s key advantages is the flexibility it offers in terms of trading hours. xStocks can be traded around the clock during weekdays, operating 24 hours a day, five days a week. Kraken also revealed that weekend trading is under development, which could pave the way for near-continuous access to tokenized securities, an offering not possible in traditional equity markets.
Europe, your wait is over.
xStocks are now live in the Kraken app for eligible clients in Europe!
Break the broker barrier 👇https://t.co/viHhrZp8Jv pic.twitter.com/sGV7MeI4nJ
— Kraken (@krakenfx) September 10, 2025
The exchange has also enabled fractional investments, allowing entry with as little as €1. This low threshold opens opportunities for a wider pool of retail investors who might otherwise find high-value equities inaccessible.
Another notable feature is the support for self-custody, enabling users to withdraw their xStocks to compatible on-chain wallets. This functionality aligns with the ethos of decentralized finance by allowing investors to maintain direct control of their holdings rather than relying exclusively on centralized custody solutions.
Security, partnerships, and market impact
Kraken emphasized that the product is safeguarded by audited reserves, strong custody systems, and blockchain security frameworks. The exchange further announced its intention to expand compatibility with additional blockchain standards, including BEP-20 on the BNB Chain.
The company’s recent collaborations with Tron DAO, along with forthcoming integrations with other networks, highlight its ambition to broaden accessibility and strengthen its ecosystem reach.
The introduction of xStocks underscores the growing significance of tokenized securities within the broader movement of real-world asset tokenization. This trend seeks to blend the trust and stability of traditional financial instruments with the efficiency, transparency, and flexibility of blockchain technology.
Industry observers suggest that as tokenization gains wider adoption, products such as xStocks could reshape how global investors approach both equities and digital assets. By lowering barriers to entry, extending trading hours, and offering direct asset control, Kraken’s initiative may help set new standards in the evolving landscape of financial markets.