Kraken Unleashes xStocks: Wall Street Goes On-Chain with a Bang!

Holy smokes, folks! Kraken just dropped the bomb by listing xStocks, the sizzling-hot tokenized equities straight from Backed. We're talking over 60 U.S. stocks and ETFs here, including the big guns like Nvidia, Apple, Tesla, and so many more. It's a game-changer, and you don't want to miss out!

Editor's note: Heads up, fam! We goofed earlier and said Kraken launched xStocks. Nope, that's Backed's gig. Kraken's just the cool kid listing them for trading. Our bad, and we've fixed it up right here.

Hold onto your hats because crypto platforms are diving headfirst into TradFi territory! On a wild Monday, June 30, Kraken kicked off trading for xStocks, letting users go nuts trading tokenized securities. You can now get a piece of the action with big names like Nvidia, Apple, Tesla, GameStop, and a whole lot more.

Through xStocks, Kraken users can dive into tokenized versions of 55 U.S. stocks and 5 ETFs. These bad boys are issued by Backed Assets Limited and are rolling on the Solana blockchain as SPL tokens. And get this—you can yank those xStocks tokens right into your wallet and go full self-custodial mode!

BREAKING: Wall Street is officially onchain, and it's wild!
xStocks are now tearing it up on Kraken ❎

60 U.S. equities tokenized and tradable 24/5. Buckle up, 'cause more are on the way!

We’re not just waiting for the future. We’re grabbing it by the horns and building it!👇

Not available in the U.S. or to U.S. persons. Geo restrictions apply...

But hold up, there are some speed bumps. Due to tech and regulatory red tape, you can only trade these stocks during the workday—even after the market closes. Kraken's working on weekend trading, but it's not here yet.

And yeah, there are some geo restrictions. If you're in the U.S., Canada, the U.K., the EU, or Australia, you're out of luck for now. Bummer, we know.

xStocks don’t confer dividends

Here's the kicker: xStock tokens don't give you the juicy shareholder rights. No voting in meetings for you, and no dividends either. That's a big deal, especially for stocks where dividends are a big chunk of the returns.

So, what's the play here? xStocks are perfect for those high-growth stocks like Tesla and Nvidia. These beasts usually don't pay dividends anyway; they're too busy pouring profits back into the business. And guess what? Most stocks on the xStocks platform are in that same boat.

Tokenized stocks are just the tip of the iceberg in the wild world of putting real-world assets on the chain. By March 2025, the total value of RWAs—including stocks, real estate, debt, and more—hit a whopping $50 billion. And hold onto your hats, because experts are calling for this asset class to skyrocket to $2 trillion by 2030. It's a wild ride, and you're invited!