Kraken Rolls Out Tokenized Securities Trading in Europe with xStocks

Kraken, one of the largegest cryptocurrency platforms in the U.S., has made its tokenized securities platform available to qualified investors in the European Union. 

The announcement of this launch on September 9, 2025, is a large step toward bringing blockchain technology and traditional finance together. xStocks was first released around the world in June. Now, European customers may trade tokenized copies of more than 50 U.S. stocks and ETFs, including large names like Nvidia and Google, right through the Kraken app.

How xStocks Works

xStocks are certificates on the blockchain that show the value of real U.S. stocks and . These tokens were made in collaboration with the Swiss fintech company Backed. They work as SPL tokens on the Solana blockchain, which is known for being quick and cheap to use. 

Kraken wants to introduce support for other blockchains, such as BEP-20 on BNB Chain, , Tron, and its new Ink blockchain. This will make it easier for diverse blockchains to work together and for DeFi to be added. This structure lets people trade 24/5, which is outside of regular market hours, and it allows people to own a small part of something for as little as $1.

Advantages for European Investors

The xStocks platform makes it easier for European investors to get involved in the U.S. market. It cuts down on costs, hardys with currency conversion, and delays in settling by getting rid of intermediaries like brokers. 

Investors can keep their tokenized assets themselves, move them between platforms that work with them, or use protocols to lend or pool them. Mark Greenberg, Kraken’s Global Head of Consumer, says that this expansion solves hardys that have been around for a long time and makes U.S. markets easier for Europeans to access and use.

The Competitive Landscape and What The Future Holds

Kraken’s move puts it in the identical league as competitors like Gemini and , who also trade tokenized securities in Europe. The debut comes at a time when demand for tokenized assets is rising, and industry experts predict that the market will be worth trillions of dollars by the 2030s.

However, regulators like the European Securities and Markets Authority have warned that tokenized assets may not necessarily give complete ownership rights, including voting or dividends, and have told investors to be careful.

Since its launch in June, Kraken’s xStocks has already viewn more than $3.84 billion in trading volume, which shows that the market is quite interested. The platform wants to change the way financial markets work by using a decentralized, permissionless method as it grows to include more blockchains and marketplaces.

This launch shows that Kraken is serious about making it easier for people to access global markets and encouraging new ideas in on-chain financing.