Kraken is stepping into traditional finance—but with a crypto twist. The crypto exchange is launching over 50 tokenized U.S. stocks and ETFs, but only for non-U.S. clients. This means traders outside the U.S. can soon buy shares of Apple, NVIDIA, Tesla, and even BlackRock funds—right on the blockchain. The move is powered by a partnership with Backed, a firm experienced in asset tokenization. These tokenized assets, called xStocks, are backed 1:1 by real shares. Traders can redeem them for cash at any time. It’s an aggressive play by Kraken to meet growing global demand for easier access to U.S. markets. By using tokenization, Kraken is slashing friction. Investors won’t need traditional brokers or banks to get exposure to U.S. stocks. They’ll be able to trade 24/7, even on weekends and holidays.
Solana Is the Engine Behind Kraken’s xStocks
Kraken chose Solana for a reason. The blockchain is fast, cheap, and scalable. It’s perfect for tokenized securities that need real-time speed and global reach. Solana’s performance has attracted other big players too—including Societe Generale and OKX. With Kraken onboard, Solana’s reputation as the go-to chain for real-world asset tokenization is getting stronger. SOL’s price jumped nearly 8% after Kraken’s announcement, reflecting strong market confidence. Kraken’s co-CEO Arjun Sethi praised Solana’s open-source architecture and rapid innovation. He also hinted that future xStock products might expand to other blockchains. For now, Solana is the launchpad, but not the limit. The result is a product that delivers real utility with crypto speed, and it’s already catching investor attention.
Kraken Expands Crypto Exchange Reach with Real-World Assets
Kraken isn’t just adding tokenized stocks—it’s reshaping what a crypto exchange can be. Traditionally, exchanges focused on coins and tokens. Now Kraken is moving into territory usually owned by brokers like Robinhood or eToro. By offering ETFs and stocks through xStocks, Kraken is diversifying beyond Bitcoin and Ethereum. This strategy could attract more users from regions with limited access to U.S. financial markets, especially in Latin America, Asia, and Africa. Kraken’s model is simple but powerful. Real shares are held by a regulated custodian. Tokens representing those shares are issued on-chain. Users can trade, transfer, and even use xStocks as collateral in DeFi. It’s finance with fewer middlemen and more freedom.
BlackRock, Robinhood, and Kraken Join the Tokenization Race
Kraken isn’t the only one jumping into tokenized assets. BlackRock and Robinhood have been exploring similar moves. Robinhood is even working on its own blockchain to support tokenized securities in Europe. This trend is growing fast. The market cap of tokenized real-world assets (RWAs) jumped 43% in under five months, reaching $22. billion. While most of it is still in private credit and Treasurys, tokenized stocks are the next frontier. Tokenization offers speed, transparency, and lower costs. Investors can trade without borders, and assets can move freely across platforms. That’s why Kraken’s careful compliance strategy is key—they’re working with regulators across regions to make sure xStocks don’t hit the same walls that shut down Binance’s similar effort in 2021.
Kraken’s Tokenized Stock Play Could Set New Crypto Standards
Kraken’s xStocks may look like a tech experiment, but they’re a glimpse of finance’s future. The exchange isn’t just offering new products—it’s challenging the structure of traditional investing. No market hours, no broker fees, no borders. With companies like Apple, NVIDIA, and BlackRock’s ETFs on offer, and with the Solana blockchain handling the backend, Kraken is positioning itself as a hybrid giant—part crypto exchange, part global brokerage. If this works, xStocks won’t just be a new product line. They’ll be a statement: crypto isn’t just for digital assets anymore. It’s for everything. That could unlock entirely new strategies for investors across continents. And it could push Kraken into a lead role in shaping the future of tokenized finance.
