Kraken Expands Tokenized Equities to Tron Blockchain with xStocks Launch

Kraken, a cryptocurrency exchange, is launching its tokenized equities, xStocks, on the Tron blockchain. This will enable its eligible clients to deposit and withdraw assets like tokenized Apple or Tesla stocks directly on the Tron network, expanding access to a global user base. Tron processes $22 billion in daily settlements and hosts over $26 billion in total value locked, making it one of the busiest payment rails in the world.

Kraken, a prominent cryptocurrency exchange, has announced the expansion of its tokenized equities platform, xStocks, to the Tron blockchain. This move will allow eligible Kraken clients to deposit and withdraw tokenized equities directly through the Tron network, enhancing accessibility and optionality for traders and investors worldwide [1].

The collaboration between Kraken, Backed, and TRON DAO aims to leverage Tron's high throughput, low-cost infrastructure, and global footprint to integrate xStocks more broadly. Backed will deploy xStocks on Tron as TRC-20 tokens, ensuring full 1:1 backing for each tokenized asset listed on Kraken's platform. This integration is expected to bring tokenized equities to a wider audience and ecosystem of builders and users [1].

Arjun Sethi, Kraken co-CEO, highlighted the significance of this expansion: "Expanding xStocks to three blockchains in under 60 days shows what's possible when you design for openness from the start. TRON’s scale, low fees, and global reach make it a strong addition to our multi-chain architecture for tokenized equities. Every xStock is fully collateralized, on-chain, and verifiable in real-time. This integration moves us closer to a world where equities trade like the internet works—permissionless, borderless, and interoperable across ecosystems" [1].

Justin Sun, Founder of TRON, echoed the sentiment, stating, "This collaboration highlights how TRON’s decentralized network can bring tokenized equities into a more open, transparent, and accessible environment. Tokenized equities represent a natural evolution for crypto, bridging traditional markets with blockchain. As demand for popular equities meets a global base of previously excluded users, we’ll see a more efficient, flexible, and accessible market" [1].

Adam Levi, Backed co-Founder, noted that the expansion to Tron aligns with the blockchain's dominance in stablecoin transfers and is a natural step for tokenized equities, the next major use case for crypto. Millions around the world already use TRON’s low-cost, high-throughput infrastructure for tokenized US dollars, and now they will be able to do the same with tokenized equities [1].

The integration with Tron marks a significant milestone in the growth of xStocks, following recent announcements involving BNB Chain and the initial launch with Solana. Kraken’s multi-chain strategy aims to provide users with the freedom to access markets on the chains they trust, fostering an open, permissionless, and interoperable ecosystem [1].

In the coming weeks, Kraken and Backed will continue working to bring xStocks to additional high-performance blockchains, further expanding access for Kraken clients across the globe [1].

References:
[1] https://blog.kraken.com/product/xstocks/tron-blockchain