Kraken becomes the first exchange to successfully launch tokenized US stocks, available 24/7 on Solana, including shares like Apple, Tesla, Nvidia, and SPY.
Kraken launches trading of tokenized US stocks
This is a global first. Kraken is the very first exchange to successfully launch tokenized American stocks on a large scale. As of this week, investors can trade 24/7 tokenized stocks of giants like Nvidia, Apple, Tesla, as well as ETFs like SPY directly on the Solana blockchain.
Real stocks, global liquidity
These next-generation securities, called xStocks, are backed by real shares held by Backed Finance, a regulated partner of Kraken. Each token can be exchanged for its cash equivalent at a ratio of 1:1. Unlike traditional markets, these assets will be available seven days a week, with no closing hours, providing continuous liquidity accessible globally.
The offering covers over 50 American stocks and ETFs, including SPDR S&P 500 (SPY) and SPDR Gold Shares (GLD). The tokens are issued on Solana, a strategic choice for its speed and low transaction costs.
Kraken leads the competition
With this launch, Kraken takes the lead ahead of Robinhood, eToro, and all other players eyeing this segment. Binance had tried a similar approach in 2021 but quickly had to give up due to regulatory pressure. This time, Kraken claims to be working “closely with regulators in each jurisdiction” to ensure xStocks compliance.
The expansion first includes Europe, Latin America, Africa, and Asia, in an offshore model excluding US customers for now.
Tokenization reaches new heights
Behind this announcement is a strong signal: the tokenization of real assets is no longer a concept. It is a booming market, already valued at $65 billion according to the latest May data. Institutions like BlackRock, Franklin Templeton, and Ondo Finance are already fighting to position themselves. Kraken now adds an ultra-mass market layer to it.
By merging traditional finance and blockchain, Kraken has just redrawn the boundaries of investment. Traditional exchanges could be in for a serious wake-up call.
