Kraken Expands Tokenized US Stock Offering to European Union
Kraken has expanded its tokenized US stock offering, xStocks, to the European Union as of September 10. Clients in the EU can now trade digital versions of stocks like Tesla and Nvidia.
- Kraken aims to raise $500 million for a potential IPO in 2026.
- The exchange acquired prop trading platform Breakout, which provides traders up to $200,000 in capital.
- xStocks offers 24/5 trading, eliminating traditional market hours and settlement delays.
- The service launched in June and has generated over $3.84 billion in trading volume.
- Kraken faces competition from other platforms like Gemini, which also offer tokenized stocks.
- Traditional finance firms, such as Nasdaq, are showing interest in tokenized securities.
- The platform employs a multi-chain strategy across Solana, BNB Chain, and TRON, with future plans for Ethereum.
- The sector is under regulatory scrutiny, with calls for stricter regulations on tokenized products.
- Tokenization of real-world assets is projected to reach trillions in value by the 2030s.