The financial world is undergoing a quiet revolution—one that’s dismantling century-old barriers and redefining who gets to participate in global markets. No longer should access to investment opportunities be limited by geography, banking infrastructure, or outdated systems. The rise of blockchain technology and crypto innovation is making it possible for anyone with an internet connection to engage with traditional assets in entirely new ways.
Today, Kraken is taking a bold step forward with the phased launch of tokenized U.S. equities, offering eligible non-U.S. clients direct exposure to some of America’s most iconic stocks and ETFs—fully onchain, self-custodial, and available around the clock.
This isn’t just another financial product. It’s a paradigm shift in how people interact with capital markets.
Introducing xStocks: Ownership Without Borders
Powered by Backed’s pioneering xStocks technology, Kraken is now listing 60 tokenized assets directly within its platform—with plans to expand significantly in the coming weeks. These SPL-based tokens are deployed on the Solana blockchain, known for its speed and low transaction costs, ensuring fast settlements and seamless user experiences.
But what makes xStocks truly transformative?
For the first time, investors can own a tokenized share of companies like Apple, Tesla, or the S&P 500 ETF—and treat it like digital money. You can transfer it instantly, use it as collateral in DeFi protocols, stake it, or even spend it—without relying on brokers, clearinghouses, or custodians.
👉 Discover how tokenized assets are unlocking 24/7 global market access.
Why Tokenized Equities Matter
Traditional stock markets operate within rigid constraints: limited trading hours, geographic restrictions, and layers of intermediaries that slow down transactions and inflate costs. For billions around the world, especially in emerging economies, these barriers make equity ownership feel out of reach.
Tokenized equities change that equation.
By representing real-world stocks as blockchain-native digital assets, xStocks eliminate friction. They enable:
- 24/5 trading availability (with potential for 24/7 in the future)
- Self-custody control—you hold your assets in your wallet
- Cross-chain interoperability—assets can move across ecosystems
- DeFi integration—use tokenized shares as collateral for loans or yield strategies
And unlike traditional brokerage accounts, there’s no need for accreditation or high minimum balances. If you have a smartphone and internet access, you can participate.
A Global Rollout for Inclusive Investing
Kraken’s rollout begins today and will extend to over 140 countries in the coming days. This expansion underscores a core mission: democratizing finance.
“With xStocks, we’re not launching a novelty. We’re unlocking something foundational,” said Arjun Sethi, Kraken co-CEO. “For the first time, people all over the world can own and use a share of a tokenized stock like they would use money. You can move it, hold it, spend it or borrow against it. All from your wallet, with no intermediaries, no borders and no delays.”
This vision aligns with a broader trend in Web3—shifting power from institutions back to individuals. As Adam Levi, co-founder at Backed, explained: “Tokenized equities are the next step for crypto as the space matures from niche digital assets into a market that serves a global audience.”
👉 See how blockchain is reshaping investment accessibility worldwide.
Built for Security, Designed for Innovation
Each xStock is issued by Backed Assets (JE) Limited, a regulated entity based in Jersey, and offered through Payward Digital Solutions Ltd. (PDSL), licensed by the Bermuda Monetary Authority. While these tokens are not registered with local securities regulators and are not available in the U.S., they adhere to rigorous compliance standards and transparency requirements.
Investors are encouraged to review the Base Prospectus and Final Terms available via backed.fi and Kraken’s Risk Disclosure page to understand the full scope of risks involved.
Key risks include:
- Price volatility linked to underlying equities
- Regulatory uncertainty in certain jurisdictions
- Smart contract and counterparty risk
- Liquidity fluctuations
As with any investment, individuals should conduct independent research or consult financial professionals before participating.
The Road Ahead: Multi-Chain Expansion and DeFi Integration
While the initial launch uses Solana, Kraken and Backed are actively working to bring xStocks to other high-performance blockchains. This multi-chain approach ensures broader accessibility and resilience across networks.
Future integrations may include:
- Cross-margin functionality within DeFi lending platforms
- Yield-generating vaults using tokenized equity collateral
- Onchain derivatives markets for synthetic exposure
The ultimate goal? To create a composable financial ecosystem where real-world assets flow freely across protocols—just like crypto.
Frequently Asked Questions (FAQ)
Q: What are tokenized equities?
A: Tokenized equities are blockchain-based representations of real-world stocks or ETFs. Each token corresponds to ownership of a fraction or full share of an underlying asset, enabling digital trading, custody, and usage in decentralized applications.
Q: Who can buy xStocks on Kraken?
A: xStocks are available to eligible non-U.S. clients. U.S. persons and residents are currently excluded due to regulatory restrictions. Over 140 countries will gain access during the phased rollout.
Q: Can I withdraw xStocks to my personal wallet?
A: Yes. One of the key advantages of xStocks is full self-custody support. You can withdraw your tokens to any compatible Solana wallet and use them across DeFi platforms.
Q: Are xStocks the same as owning real stock?
A: While xStocks represent economic exposure to real equities, they do not confer voting rights or direct shareholder status. Ownership is governed by contractual terms between Backed and investors.
Q: How are xStocks priced?
A: Prices are pegged to the underlying securities during U.S. market hours and updated regularly. Outside trading hours, pricing reflects indicative market data and liquidity conditions.
Q: Is there counterparty risk with xStocks?
A: Yes. Since xStocks are issued by a centralized entity (Backed), there is counterparty and custodial risk. Investors should assess this against potential benefits.
The future of investing is no longer confined to Wall Street trading floors or exclusive brokerage accounts. It’s unfolding onchain—open, programmable, and accessible to anyone.
With tokenized equities like xStocks, Kraken is helping build a financial system that works for everyone, everywhere—not just those lucky enough to be born in privileged economies.
👉 Start exploring the next generation of digital investing today.