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2h ago

Kraken and Backed Launch xStocks on Ethereum, Extending Tokenized Equities to DeFi

The ERC-20 launch lets eligible clients move fully collateralized tokens into self-custody for use across Ethereum DeFi.

Kraken, backed bring tokenized equities offering to ethereum mainnet
Ethereum becomes latest home for kraken’s tokenized equities expansion

Overview

  • Eligible Kraken clients can deposit and withdraw xStocks as ERC-20 tokens to Ethereum wallets for use across decentralized finance protocols.
  • The expansion brings more than 60 tokenized assets to Ethereum, including AAPLx, TSLAx, NVDAx, and SPYx.
  • xStocks now span Solana, BNB Chain, TRON, and Ethereum, with cumulative trading volume reported at over $3.5 billion since June.
  • Each token is issued 1:1 against underlying shares held with regulated custodians, though tokens offer limited shareholder rights and face fragmented regulatory treatment.
  • Kraken frames the move as part of a multi‑chain strategy to make tokenized equities portable, composable, and accessible across ecosystems, with access restricted to non‑U.S. users.