Kraken to Open Access to Tokenized Apple and Tesla Stocks
Date: 2025-05-23 Author: Gabriel Deangelo Categories: BUSINESS
By the end of June, Kraken will launch a new service — trading xStocks tokens, which are digital analogues of shares of companies such as Apple, Tesla, Nvidia, and about 50 other corporations. These tokens will operate on the Solana blockchain and will be available 24/7.
Each of the tokens is backed by a real security or share in an exchange-traded fund (ETF), which is guaranteed through a partnership with the Swiss platform Backed Finance. The value of xStocks will automatically follow the market price of the corresponding stock or ETF, making them a full-fledged digital representation of traditional assets.
Users will be able to freely move purchased tokens to third-party cryptocurrency exchanges or transfer them to their own wallets. Additionally, xStocks will be used as collateral when making crypto trading transactions, which opens up new opportunities for portfolio diversification and risk management.
Kraken CEO Arjun Sethi emphasized that the new service is primarily intended for international investors who find it difficult and expensive to access US stock markets through local brokers. According to him, xStocks significantly reduce costs and time spent on investing in US assets.
In addition, the company reported that it is actively communicating with regulators in various countries to comply with all legal requirements and legalize tokenized assets in the relevant jurisdictions.
Earlier, in March, Bloomberg reported on Kraken's intention to go public in the first quarter of 2026. Also this month, it became known that Kraken acquired the NinjaTrader trading platform for $1.5 billion - this is the largest exchange deal in recent times.
In addition, Kraken has expanded its capabilities in the field of crypto payments by starting cooperation with Mastercard. The partnership will see the release of both digital and physical cryptocurrency-enabled debit cards.
