Kraken Launches Tokenized U.S. Stocks on Solana Blockchain

Kraken is launching over 50 tokenized U.S. stocks and ETFs on the Solana blockchain for non-U.S. traders.

This move highlights innovation in stock trading using blockchain, offering access to traditional equities with possible global reach.

Kraken, partnering with Backed Finance, introduces “xStocks,” tokenized U.S. equities on the Solana blockchain. The initiative involves over 50 stocks, such as Apple, Nvidia, and Tesla. Aimed at non-U.S. traders, trading emphasizes accessibility. The partnership utilizes Solana for its performance, low latency, and global ecosystem. Tokenized assets are tradable on Kraken’s platform and compatible wallets, with 24/7 accessibility.

These tokenized stocks involve SPL tokens backed 1:1 by shares held by Backed Finance. They provide innovative trading opportunities for non-U.S. investors in regions like Europe and Asia. The launch builds on Kraken’s efforts since April to expand the range of tokenized financial products. Historical trends show exchanges like Binance have attempted similar offerings, but Kraken’s consistent push reflects growing trust and regulatory navigation. The expanding tokenization market, valued at $65 billion in 2025, signals rising industry adoption. Kraken’s strategic alignment with regulators ensures future legal compliance and market expansion, emphasizing tokenization’s role in seamless integration with traditional finance.

Access to traditional US equities remains slow, costly and restricted. With xStocks, we’re using blockchain technology to deliver something better – open, instant, accessible and borderless exposure to some of America’s most iconic companies. This is what the future of investing looks like. – Mark Greenberg, Global Head of Consumer, Kraken