Kraken Launches xStocks for 24/7 US Stock Trading Outside US

Kraken is set to introduce a new product that will enable users in select countries outside the US to trade tokenized versions of major American stocks and ETFs around the clock. The announcement, made on May 22, includes prominent names such as Apple, Tesla, and Nvidia, with plans to expand the selection over time. This development follows Kraken's acquisition of NinjaTrader in February and its subsequent expansion into stock trading last month.

The product, named xStocks, is a collaboration with Backed and will tokenize popular US-listed assets as SPL tokens on the Solana network. Unlike traditional equity markets, xStocks will be available for trading 24/7 through Kraken’s platform and compatible Solana wallets. This structure allows the tokenized assets to be used onchain, such as for collateral in decentralized applications, which is not possible through traditional brokerage systems.

Kraken’s Global Head of Consumer Mark Greenberg highlighted that xStocks aims to provide faster, cheaper, and more inclusive access to US equities. He criticized the current systems as slow, expensive, and geographically limited. Greenberg stated, “[xStocks] is what the future of investing looks like.”

Kraken’s move to launch xStocks builds on its recent introduction of a conventional equities trading service for US-based clients, which includes over 11,000 publicly listed stocks and ETFs. The company plans to expand this service to the UK, Europe, and Australia, while xStocks represents a parallel expansion using blockchain technology.

The launch of xStocks comes at a time of increased interest in tokenized real-world assets (RWAs), driven by the demand for open financial infrastructure and the efficiencies introduced by digital rails. Kraken has not announced a specific launch date for xStocks but has indicated its intention to grow the list of supported jurisdictions and tokenized assets over time.