After Coinbase announced its foray into the tokenized stock market, Kraken is also set to engage in stock trading. The current plan has been confirmed, with the U.S. tokenization platform xStocks, backed by Backed, responsible for bringing stocks on-chain.

Then Kraken will offer spot and futures trading support.

The former is a stock tokenization platform invested in by Coinbase. According to industry insiders, in addition to Kraken, another leading firm is also collaborating with xStocks.