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2h ago

Kraken Presses SEC Task Force on 24/7 Tokenized Stock Trading

The exchange presented a technical and legal blueprint to seek clarity on a U.S.-compliant path for tokenized equities.

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Kraken seeks sec blessing for 24/7 tokenized stock trading platform

Overview

  • An internal SEC memo confirms Kraken met the agency’s Crypto Task Force on Aug. 25 to discuss a tokenized trading system under existing U.S. law.
  • Kraken’s presentation detailed system architecture, transaction lifecycles, and securities-law obligations while requesting formal guidance for a 24/7 market design.
  • The meeting included four Kraken executives and two attorneys from Wilmer Cutler Pickering Hale and Dorr, according to the filing.
  • Kraken’s xStocks platform offers tokenized versions of 50+ U.S. equities and ETFs for non-U.S. clients on Solana and BSC, with support for Tron announced last week.
  • Global regulators and exchange groups have urged tougher oversight as RWA.xyz estimates about $360 million in tokenized stocks versus roughly $26.5 billion in all tokenized RWAs, and the SEC’s stance remains unresolved.