Kraken to Launch xStocks, Tokenized Versions of US-Listed Stocks and ETFs on the Solana Blockchain

This ambitious initiative, dubbed xStocks, is primarily aimed at global investors and is designed to provide round-the-clock access to some of the most popular American equities

Crypto exchange Kraken is preparing to launch tokenized versions of over 50 U.S.-listed stocks and Exchange Traded Funds (ETFs) on Solana, aiming to provide global investors with round-the-clock access to some of the most popular American equities.

This initiative, dubbed xStocks, will offer users the ability to buy and sell tokens that represent shares of companies such as Apple, Tesla, Nvidia, and the SPDR S&P 500 ETF, backed by the actual shares held by Kraken’s partner, Backed Finance. These tokens will mirror the value of their underlying assets and can be redeemed for cash equivalents.

The tokens will trade continuously on Solana, even during weekends and public holidays, in contrast to traditional stock markets, which have limited trading hours and close on holidays.

Kraken chose Solana for its high throughput, low transaction costs, and burgeoning ecosystem. The exchange also has plans to expand xStocks to other blockchain networks in the future, enabling broader adoption and multi-chain support.

The initial launch will focus on Europe, Latin America, Africa, and Asia, where investors currently face high brokerage fees, limited market access, and slow transaction speeds when investing in U.S. stocks.

By leveraging blockchain technology, Kraken aims to reduce friction, improve transparency, and deliver faster settlement times for global investors. This approach eliminates the need for multiple financial intermediaries and allows for fractional investing, empowering retail investors in regions underserved by traditional brokers.

“We are focused on providing a product that is compliant with all applicable laws and regulations,” a Kraken spokesperson told Cointelegraph.

This venture marks a significant step in opening up traditional financial products to a wider global audience. It also highlights the potential of blockchain technology to transform the investment landscape.

Earlier this year, began offering tokenized stocks to U.S. customers, and has plans to expand into the UK and Australia. The exchange is actively engaging with regulators to ensure a smooth and successful rollout of xStocks in key markets.

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