Kraken Brings Tokenized U.S. Stocks & ETFs to Europe
Kraken, a prominent crypto exchange, is poised to introduce tokenized U.S. stocks and ETFs on its platform. This move, alongside similar initiatives by Robinhood, seeks to democratize access to global stock markets today.
Kraken's approach involves tokenizing underlying assets on the Solana blockchain, differentiating it from competitors like Bybit. These tokenized assets can serve as collateral, a feature absent in traditional stock markets today. Clients can trade these tokens on Kraken's platform and compatible wallet providers.
Mark Greenberg, Kraken's global head of consumer, believes xStocks presents better alternatives to traditional equities investing. Initially, Kraken plans to expand its offering of tokenized U.S. stocks and ETFs primarily in Europe, building on its existing presence. However, specific details about other countries are not provided in the current information. Kraken aims to broaden the range of tokenized assets and availability to more jurisdictions in the future.
Kraken's launch of tokenized U.S. stocks and ETFs signals its intent to bridge the gap between digital assets and traditional finance. By offering these assets to clients in select non-U.S. markets, Kraken and Robinhood are paving the way for broader global access to financial markets today.
