Kraken Unveils Tokenized Stocks for Non-U.S. Crypto Markets
Crypto exchange Kraken announced Thursday the launch of tokenized U.S. equities for non-U.S. investors. The new product, branded as xStocks, includes digital representations of major American companies like Apple, Tesla, and Nvidia.
The move enables investors to trade these assets 24/7 — a notable shift from traditional equity markets that operate on set schedules. While limited to select markets outside the U.S., the offering signals growing momentum for merging crypto with traditional finance.
What Is Tokenization in Crypto Finance?
Tokenization refers to creating digital tokens that represent real-world assets. In this case, crypto investors don’t directly hold shares of the companies. Instead, they hold tokens backed by the underlying stocks.
Proponents argue this model improves market accessibility, especially for global investors unable to access U.S. exchanges. It also leverages blockchain’s speed, transparency, and round-the-clock availability.
xStocks Aimed at Global Crypto Users
Kraken said xStocks will be available in select jurisdictions, although it didn’t specify which. U.S. investors are excluded due to regulatory constraints. The launch was first reported by the Wall Street Journal.
This announcement comes amid increasing calls to modernize investing. Robinhood CEO Vlad Tenev recently wrote in the Washington Post that crypto tokenization could one day offer retail investors access to private companies—something currently out of reach for most.
Crypto Tokenization Gains Traction in Traditional Finance
While tokenized securities haven’t gone mainstream yet, interest is growing. As regulatory clarity improves and blockchain infrastructure matures, more institutions are exploring crypto-based asset delivery.
Kraken’s move follows a broader trend of financial innovation that combines the speed of crypto with the stability of established assets. It’s part of a larger wave that could eventually democratize global investing.
Political Tailwinds Support Crypto Innovation
The resurgence of crypto in 2025 has been boosted by a more favorable U.S. political environment. Since President Donald Trump’s return to the White House, expectations for relaxed crypto regulations have risen.
This environment has coincided with Bitcoin’s rally past $100,000, and renewed optimism across blockchain sectors. Exchanges like Kraken are leveraging the moment to roll out bold new products like tokenized equities.
Future of Crypto-Driven Investing Looks Global
Kraken’s xStocks may represent a turning point. By enabling 24/7 access to tokenized U.S. stocks, the exchange is blurring the line between traditional equity trading and the crypto world.
If successful, the model could pressure traditional brokerages to rethink how they deliver access to global assets. And while U.S. investors are currently sidelined, regulatory reform may one day open these doors more widely.