Kraken offers tokenized US stocks to global users through xStocks with 24 hour weekday trading and low entry amounts.
xStocks run on Solana and allow self custody with access to DeFi tools like lending staking and automated strategies.
xStocks have no voting rights or dividends but fit growth stock strategies in the expanding tokenized asset market.
Kraken now lists 60 tokenized US equities on its platform, offering access to non-US users through xStocks. The assets include 55 individual stocks and 5 exchange-traded funds. Nvidia, Apple, Microsoft, and Tesla are among the featured stocks.
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xStocks are issued by Backed Assets Limited, not by Kraken itself. Kraken provides the marketplace but does not create or back the assets. Each tokenized share is backed 1:1 with the real-world stock it represents.
Access Outside Traditional Markets
Kraken targets global users, though regulations exclude users in the US, UK, EU, Canada, and Australia. Within days, Kraken plans to extend this service to 185 countries. This expansion aims to tap into high demand from global retail and institutional users.
Trading runs five days a week for 24 hours each day. Weekend access is planned for the near future. This approach enables activity beyond standard stock market hours.
Users can also buy in small increments, starting at $1. They can pay using crypto, stablecoins, or fiat currencies. The system works on Solana, enabling faster and cheaper transactions than most chains.
Self-Custody and DeFi Integration
Kraken allows full self-custody of tokenized stocks. Users can withdraw assets to personal wallets as SPL tokens on Solana. These tokens are compatible with various DeFi protocols on Solana’s ecosystem. Kraken also finalized its acquisition of NinjaTrader to help offer futures trading.
Kamino Lend already supports xStocks as collateral. Users can lend, stake, or trade xStocks without relying on centralized platforms. The tokens are programmable and transferable, allowing automated strategies using bots or trading logic.
No Voting Rights or Dividends
xStocks do not provide shareholder rights. There are no voting powers or dividend distributions tied to these tokens. This setup aligns more with growth stocks, which typically reinvest profits.
Most listed assets fall under the fast-growth category. They appeal to users focused on capital appreciation over income. The structure supports DeFi use cases, particularly where capital efficiency and liquidity matter.
Broader Market Trends and RWA Growth
By March 2025, tokenized real-world assets reached a $50 billion market value. Forecasts suggest this could grow to $2 trillion by 2030. Kraken’s xStocks add to this growing trend, despite tokenized stocks trailing behind tokenized bonds and T-bills.
Kraken’s listing remains one of the most extensive to date. The lack of industry standards remains a challenge. However, xStocks represents a structured step forward in tokenized equity access.
Tech-driven global investors continue to seek efficient access to US equities. Tokenization removes the need for traditional brokers and offers an alternative access point.
