Kraken Brings U.S. Stocks to Crypto Users Worldwide
Crypto exchange Kraken is expanding its reach, now offering tokenized versions of U.S. stocks and ETFs to non-U.S. clients. This move, along with similar plans by Robinhood, signals a growing trend of crypto platforms bridging the gap with traditional finance.
Kraken's xStocks, launching initially in Switzerland and expanding across Europe by August 2025, will provide 24/7, borderless access to American equities. These tokenized assets, issued as SPL tokens on the Solana blockchain, can be used as collateral in ways currently impossible through traditional stock market platforms.
Mark Greenberg, Kraken's global head of consumer, sees this as a way to provide better alternatives to the status quo in equities investing. Unlike competitors like Bybit, Kraken is creating blockchain-native versions of these stocks. Clients can trade these tokenized assets on Kraken's platform and on-chain through compatible wallet providers.
Kraken's expansion into tokenized U.S. stocks and ETFs for non-U.S. clients is a significant step in the growing trend of crypto platforms innovating to connect with traditional finance. With plans to steadily expand the range of tokenized assets and jurisdictions, Kraken aims to improve global accessibility to financial markets.
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