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Kraken Expands xStocks Tokenized Stock Service to European Markets

Kraken Expands xStocks Tokenized Stock Service to European Markets

Kraken's xStocks platform now enables EU traders to access tokenized U.S. stocks and ETFs on-chain, enhancing global accessibility and reducing barriers to U.S. market exposure.

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Fact Check
The statement is directly and independently confirmed by multiple credible news sources. Evidence 15 (CoinDesk) and Evidence 12 (The Block) explicitly state that Kraken has expanded its xStocks tokenized equities platform to European markets. This is further corroborated by other sources detailing the rollout to non-US clients (Evidence 2) and specific offerings in the European Union (Evidence 8).
    Reference: 1
Summary

Kraken has expanded its xStocks platform to the EU, enabling users to trade tokenized U.S. stocks and ETFs. Powered by Backed, xStocks allows 24/7 trading on Solana, with plans for Ethereum and multi-chain support. The service aims to eliminate traditional market barriers, offering decentralized finance integration and fractional ownership.

Terms & Concepts
  • Tokenized Stocks: Digital assets representing shares of publicly traded companies, allowing fractional ownership and blockchain-based trading.
  • xStocks: Kraken’s platform that enables users to trade tokenized versions of U.S. stocks and ETFs using blockchain technology.
  • Solana: A high-performance blockchain network known for fast transaction speeds and low fees, used as the base for Kraken’s xStocks platform.