Bitget Wallet Adds Kraken-backed xStocks Tokenized Equities
Bitget Wallet says it has integrated Kraken-backed xStocks infrastructure to expand tokenized equities in its self-custody app. The update gives access to 130+ tokenized stocks and ETFs and grows Bitget Wallet’s RWA lineup to 300+ products across equities, commodities, precious metals, and index-linked assets.
The platform reported that its tokenized equities products have processed over $30B in transaction volume since launch in 2025, citing demand and scale via self-custody access for 90M+ users. It also stressed the offering is not available in the US, UK, and other restricted jurisdictions.
On execution, Bitget Wallet says tokenized equities trading supports both RFQ (request-for-quote) and AAM (automated market maker) liquidity models. It claims zero trading fees and “gasless” execution, with assets traded inside the same interface used for crypto swaps and custody, while users retain private-key control.
Latest context: xStocks is now operated by Payward (Kraken’s parent), after Kraken acquired xStocks via its late-2025 purchase of Backed Finance. The article also points to intensifying competition in tokenized equities, with moves from Coinbase, Binance (exploring a return), and Ondo (including proxy voting support). RWA.xyz data cited the tokenized equities market near $1.5B, led by players including Ondo and xStocks.
Neutral
This is a meaningful expansion of tokenized equities rails inside a major self-custody wallet, but it is not a direct protocol/market change for a specific listed crypto asset. The headline affects how TradFi-like assets flow on-chain (RFQ/AAM, gasless claims, in-app access), which can improve RWA adoption and sentiment. However, without an explicit token incentive or pricing mechanism tied to ONDO (or another named crypto), near-term price impact is likely limited.
In the short term, traders may show mild “RWA momentum” interest, but liquidity/fees claims and US/UK restrictions reduce broad immediate demand. Over the long term, adding more tokenized equities venues could diversify non-spot crypto exposure, which supports broader ecosystem activity without necessarily boosting ONDO price. Net effect: neutral for the mentioned crypto.