Kraken Expands Globally with xStocks Tokenized Shares via Solana Blockchain

Highlights:

• Kraken is rolling out over 50 stock and ETF tokens on Solana for users around the world.
• xStocks will trade 24/7 and reflect real-time market prices with 1:1 asset backing.
• Kraken is planning to expand into Europe, Latin America, Asia, and Africa with its future chain integration efforts.

Crypto exchange Kraken has introduced xStocks, which gives investors tokenized access to more than 50 listed stocks and ETFs from the U.S. According to the press release, Backed, a tokenization firm, powers the offering, which runs on the Solana blockchain. Through this move, investors globally can buy and sell U.S. equities during off-hours, directly on-chain.

The launch targets customers outside the U.S. in Europe, Asia, Africa, and Latin America. Because of U.S. regulations, customers from the US are still unable to use the platform. Apple, Tesla, Nvidia, and the SPY ETF will all be accessible as digital assets that follow real-time stock prices. Backed will hold and manage the underlying securities for full 1:1 backing.

All tokenized assets will be part of the SPL token standard, used by Solana. These tokens enable transfers to be made quickly and cheaply for continuous trade globally. Buying, selling, and transferring these assets will be possible at any time via the Kraken platform.

Today we’re announcing our new partnership with @BackedFi for the launch of xStocks on @Solana 🚀@xStocksFi will offer tokenized versions of U.S.-listed equities, available soon to eligible Kraken clients in select non-U.S. markets.

A new layer of market access, built on… pic.twitter.com/eXUnpHDipF

— Kraken Exchange (@krakenfx) May 22, 2025

Solana Powers 24/7 Trading with Real-Time Settlement

The reason for hosting xStocks on Solana is its extensive scope for throughput and fast transaction capacity. The environment on Solana supports fast settlements and little latency, making on-chain equities a good option. By using Solana, users around the world can easily transact across borders with low fees.

Tokenized shares will work with external crypto wallets and be supported by DeFi projects soon. With this, investors can take advantage of decentralized lending, borrowing and collateral protocols using equities. Kraken plans to develop the tokenized equity market by looking into other blockchains in the future.

Backed ensures the security of the assets by picking the right stocks and keeping them safely. The setup makes sure that the value of the tokens stays parallel to the market value. Unlike traditional stock markets, xStocks will function around the clock without any boundaries of locations or time zones.

In April, Kraken allowed customers in the U.S. to trade more than 11,000 U.S. stocks and ETFs. With xStocks, tokenization makes it easy to access markets worldwide. The move represents a key advance in moving traditional financial assets onto a blockchain network.

Tokenization Bridges Traditional and Decentralized Finance

xStocks seeks to link the legacy financial approaches with new decentralized platforms. The tokenization of real-world assets like stocks provides flexibility, transparency, and global reach. Kraken and Backed believe on-chain assets will change equity investing by removing the middlemen and giving investors easier access.

Previously, companies tried to tokenize stocks, but running into legal difficulties was common. Kraken said it is cooperating with regulators in all regions where it plans to roll out its product. Such precautions can stop the company from suffering the same fate that shut down other similar services.

Among institutional players, tokenizing real-world assets is becoming a growing trend. Already, BlackRock and Securitize have introduced tokenized investment products on several blockchain platforms. By doing this, Kraken offers retail investors an additional method to explore new U.S. market opportunities.