Kraken, Trust Wallet Launch 60 xStocks Tokenized Equities
Kraken has teamed up with Trust Wallet to embed Backed’s xStocks tokenized equities into the popular self-custody wallet. This integration gives 200 million Trust Wallet users access to 60 fully collateralized stock tokens. Traders can buy and hold these tokenized equities with local fiat, and deposit or withdraw on Ethereum (ETH), Solana (SOL), BNB Chain (BNB) and TRON (TRX). Each xStock is backed 1:1 by underlying shares, ensuring transparency and security. Kraken co-CEO Arjun Sethi described the move as a paradigm shift toward borderless markets. The firm has also added xStocks support on BNB Chain, TRON and Ethereum, and expanded services to eligible EU clients. By combining Kraken’s trading infrastructure, Backed’s collateralized xStocks and Trust Wallet’s global reach, this partnership streamlines DeFi access to tokenized equities and paves the way for mass adoption.
Neutral
By embedding xStocks tokenized equities into Trust Wallet, Kraken reduces barriers for retail and DeFi investors, which may boost trading volumes of xStocks and on-chain activity. However, xStocks are security tokens rather than native cryptocurrencies, so their adoption has minimal direct effect on prices of Ethereum, Solana, BNB or TRON. In the short term, traders might see modest volume spikes for xStocks with limited volatility in major tokens. Over the long term, broader use of tokenized equities could increase demand for transaction services on these blockchains, offering mild upside momentum. Yet, regulatory constraints and traditional market competition temper overall crypto price influence, resulting in a neutral market impact.