Kraken Launches xStocks: Tokenized US Stock Trading Now in Europe
Kraken has launched xStocks, enabling European investors to trade tokenized US stocks and ETFs 24/5. xStocks are blockchain-based certificates that mirror the price of over 60 leading US equities, including Nvidia and Google. The service runs on Solana and Ethereum and supports BEP-20 on BNB Chain, with full integration on the Tron network. By eliminating brokers, currency conversion and settlement delays, xStocks reduce fees and speed up settlement. Since its June debut, xStocks trading volume has exceeded $3.84 billion. Users maintain self-custody of their assets, and planned multi-chain expansions will boost interoperability. This move bridges traditional finance and DeFi, opening new use cases such as collateralized lending and yield farming with tokenized stocks.
Bullish
This announcement is likely bullish for the underlying blockchain networks. In the short term, the launch of xStocks will drive higher transaction volumes on Solana, Ethereum, BNB Chain and Tron, increasing demand for SOL, ETH, BNB and TRX. In the long term, broader adoption of tokenized US equities can sustain network activity, attract more institutional and retail users, and showcase DeFi use cases like lending and yield farming. Historical launches of tokenized assets have led to positive price moves for associated tokens, suggesting continued upside potential.