TL;DR

Kraken introduced xStocks, a service that lets users trade over 60 tokenized shares of U.S. companies via the Solana blockchain.
The platform operates 24 hours a day, five days a week, and excludes U.S. clients to comply with local and Swiss regulations.
xStocks’ SPL tokens can be used as collateral in DeFi applications, offering more use cases than traditional stocks.

Kraken announced the launch of xStocks, a new service that allows users to trade tokenized shares of U.S. companies through the Solana blockchain.

This initiative is aimed exclusively at users outside the United States and provides access to over 60 companies, including Apple and Tesla. The service runs 24 hours a day, five days a week, removing the time restrictions of traditional markets.

The product uses SPL tokens on Solana, letting users trade these assets both on Kraken’s platform and through compatible wallets. Beyond buying and selling, it will be possible to use these tokens as collateral in various decentralized applications, something unavailable in traditional financial systems. Kraken developed this solution in partnership with Backed and will apply Swiss regulations to ensure legal viability.

This new offering seeks to address the limitations faced by those trying to access U.S. stock markets from abroad. Common issues include restricted trading hours, high fees, and bureaucratic processes.

Kraken Will Gradually Expand xStocks’ Reach

Unlike other attempts to enter the tokenized stock market, this project excludes U.S. clients from the start and operates under a stronger legal framework, which could provide greater stability and longevity. Kraken plans to steadily expand the list of available assets and supported markets, aiming to turn xStocks into a globally accessible tool.

This project could also increase activity across Solana’s infrastructure, as all xStocks transactions run on its network. According to the latest data, Solana (SOL) is priced at $150.52 with a market capitalization of $80.45 billion. Its value rose 12.62% over the past week and shows a 17.49% increase over the last 90 days.

Not long ago, Kraken announced the integration of traditional stock trading for U.S. clients within its app. For now, the company expects to extend this feature to the United Kingdom, Europe, and Australia soon.

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Filed under: News - @ June 30, 2025 2:28 pm