Kraken has officially rolled out its tokenized equities platform, xStocks, across the European Union, the company announced via an X post on 10 September 2025. The latest development will empower eligible European investors to trade tokenized U.S. stocks and ETFs directly through its app.
Powered by Swiss fintech partner Backed, xStocks transforms U.S. equities into blockchain-based tokens, which will be initially deployed on the Solana blockchain. Users can get fractional ownership, rapid 24/5 trading, and seamless DeFi integration. These tokens are backed 1:1 by the underlying securities, allowing redemption for actual shares, and sidestepping traditional obstacles like brokers, settlement delays, currency conversion, and excessive fees.
Since launching globally in June (excluding the U.S., U.K., Canada, Australia, and the EU until now), xStocks has already processed nearly $3.84 billion in total trading volume, driven especially by tokens tracking powerhouse names like Tesla and NVIDIA. Kraken’s expansion also reportedly supports more than 60 U.S. equities and ETFs, signaling a significant broadening of its tokenized offerings.
Kraken’s Global Head of Consumer, Mark Greenberg, said that the move was a strategic effort to “democratize access to global markets,” enhancing portability and permissionless interoperability of tokenized financial assets. The launch puts Kraken in direct competition with platforms like Robinhood and Gemini, and aligns with growing interest in tokenized securities.
Many forecasts have predicted that the tokenized asset market has the potential to hit trillions of dollars by 2030. And with xStocks, Kraken is ready to tap that market.