Crypto exchange Kraken has partnered with Trust Wallet, one of the world’s largest self-custody crypto wallets, to broaden access to tokenized equities through the xStocks platform. The collaboration aims to bring tokenized stocks to millions of users globally, leveraging Backed’s collateralized on-chain assets.
In a Friday announcement, Kraken said the integration will allow Trust Wallet users to trade and hold 60 xStocks using multiple local fiat currencies. Deposits and withdrawals will be supported across Solana, BNB Chain, Tron, and Ethereum, enhancing cross-chain accessibility.
This is more than integration it’s a paradigm shift accelerating the move to a future where global markets operate without borders, without barriers, and with the same openness and accessibility as the internet itself.
Regulatory and geographic restrictions
Despite Kraken’s claims of reaching “over 200 million users,” not all Trust Wallet holders can access xStocks immediately. Securities are subject to jurisdiction-specific regulations and require Know Your Customer (KYC) compliance and investor protections.
Ross Shem, co-founder of tokenization company Stobox, noted that tokenized equities share technology with crypto but remain distinct in legal and regulatory obligations. Kraken confirmed that xStocks are unavailable in the US and to US persons, and other geographic restrictions apply, including in the United Kingdom, Canada, and Australia.
Trust Wallet CEO emphasized the deal’s role in bridging Web3 and traditional markets, while Backed co-founder Adam Levi highlighted cross-chain accessibility as a “public good.”
xStocks trading performance
Since launch, xStocks have generated over $4 billion in trading volume across centralized and decentralized exchanges. Kraken has also rolled out eligibility for select EU-based clients, signaling strong demand for exposure to tokenized US equities outside restricted regions.
The collaboration represents a significant step in expanding tokenized equities globally, while emphasizing the need for careful compliance with securities laws in multiple jurisdictions.