Kraken expands xStocks offering to Europe as tokenized stocks gain steam

Kraken is expanding xStocks to European customers as demand for tokenized equities grows larger.

“For too long, it’s been unnecessarily challenging to gain exposure to U.S. markets, and with xStocks we’re removing many of the barriers,” said Kraken’s Global Head of Consumer Mark Greenberg.

Kraken said that xStocks will bring down the existing barriers for European investors seeking exposure to U.S. stocks, including friction from currency conversion, settlement delays and excessive platform fees.

The platform’s tokenized certificates track the price of over 50 U.S. equities, such as Nvidia and Google, without brokers or intermediaries, which users can move to self-custody or use them within DeFi protocols.

Kraken launched xStocks in June with tokenization startup Backed. Since the launch, xStocks have seen over $3.84 billion worth of trade volume on centralized and decentralized trading platforms, according to data from Dune Analytics.

Kraken added that it will be expanding xStocks token support to include BEP-20, which is a standard for creating and deploying tokens on the Binance Smart Chain (BSC) network. Last month, Kraken and Backed partnered with Tron DAO to expand xStocks to Tron blockchain.

“Over time, we’ll continue expanding Kraken’s xStocks support to additional high-impact blockchains with thriving ecosystems — including Ink, with more to come,” Kraken said in its press release.

Tokenized stocks and real-world asset tokenization in general have gained prominence in recent years. They have the potential to reshape the investment landscape by connecting traditional assets with the efficiency and transparency of blockchain technology.

“We believe xStocks aren’t just a technical evolution — they represent a fundamental shift in how capital markets will operate: borderless, decentralized, permissionless, and onchain,” Kraken said.