Cryptocurrency exchange Kraken is expanding its xStocks service to European customers to meet the growing demand for tokenized equities. This service, which was launched in partnership with the tokenization company Backed, offers tokenized certificates that track the price of over 50 U.S. stocks, including Nvidia and Google.
Kraken aims to remove key barriers for European investors, such as high fees, slow settlement times, and complicated currency conversions. Users can trade these assets 24/7 and even move them to a personal wallet for self-custody or use them in DeFi protocols. Since its launch in June, xStocks has generated over $3.84 billion in trading volume on both centralized and decentralized platforms.
The company is also working to make xStocks available on multiple blockchains. After its initial launch on Solana, Kraken has already added support for Binance Smart Chain (BSC) and partnered with Tron DAO to expand to the Tron network. Kraken has stated it will continue to add support for other "high-impact blockchains."
This move reflects the growing trend of real-world asset tokenization, which seeks to connect traditional financial markets with the efficiency and transparency of blockchain technology. Kraken believes xStocks represents a fundamental shift in how capital markets will operate, making them more "borderless, decentralized, permissionless, and onchain."
September 2025, Cryptoniteuae