Chiara Bianchi
Kraken is preparing to roll out tokenized stock trading for international customers, offering access to major companies like Apple, Tesla, and more, according to a recent announcement from blockchain firm Backed.
The upcoming product line, called xStocks, will include over 55 tokenized stocks and ETFs. These digital assets will be available exclusively to non-U.S. users and will be integrated with Solana’s top DeFi platforms, Backed said in a statement.
Expected to go live in the coming weeks, the new feature will serve customers across Europe, Latin America, Africa, and Asia, The Wall Street Journal reported. This marks a strategic expansion by Kraken, aiming to become a leading player in the emerging tokenized equity market.
The move aligns with Kraken’s broader multi-asset vision. In March, the exchange acquired NinjaTrader, a U.S.-based retail futures platform, for $1.5 billion, further signaling its push beyond traditional crypto trading into equities and payments.
Kraken’s Bold Bet: Tokenized Stocks Will Outgrow Stablecoins
In a conversation with PRIME back in April, Kraken co-CEO Arjun Sethi made a bold prediction: tokenized equities will soon surpass stablecoins in market size.
“One single tokenized stock could become larger than Tether,” said Sethi, referring to the $240 billion stablecoin market led by USDT. “Imagine hundreds or thousands of tokenized stocks, layered with futures and options trading—this space could expand faster and bigger than we’ve ever seen before.”
His vision paints a future where tokenized stocks are as common and tradable as crypto tokens, unlocking entirely new forms of liquidity and market structure.
Addressing Barriers for International Investors
Sethi also noted how investors in Europe and the UK often struggle to access U.S. equities due to regulatory and technical friction.
“By the time a European investor tries to buy a U.S. stock, they’re met with so many barriers that they give up,” he explained. Kraken’s xStocks aims to eliminate that friction with borderless, on-chain access to popular equities.
Rising Interest in Tokenized Assets
The crypto industry’s enthusiasm for tokenized financial products is growing rapidly. Alongside Kraken and Backed, other players like Plume Network and WhiteRock are eyeing the space as the next big wave of blockchain innovation.
Experts predict that as blockchain infrastructure matures and regulations evolve, tokenized assets could become a multi-trillion-dollar market, reshaping how traditional finance operates.
