U.S. Securities Now Accessible to European Market Via Kraken's xStocks Platform: Tokenized Shares Available
Kraken, a leading cryptocurrency exchange, has expanded its xStocks service to European investors, allowing EU users to trade tokenized versions of popular U.S. stocks through the Kraken mobile app. This move offers features such as 24/7 trading and fractional ownership.
Launched internationally in late June 2025, Kraken's xStocks platform has generated over $3.84 billion in trading volume across both centralized and decentralized exchanges. The service uses blockchain technology to remove traditional barriers that have made US market access difficult and expensive for European investors.
The platform currently offers over 60 tokenized assets, including major companies like Apple, Google, Amazon, and Tesla, plus several exchange-traded funds. Each xStock token is backed one-to-one by actual shares held by a custodian, making it a digital representation of real company shares.
Unlike traditional stocks, xStocks don't provide voting rights or direct ownership in companies. However, dividend payments are automatically reinvested, increasing the token balance to reflect the dividend amount. Investors can start trading xStocks with as little as $1, and there are no trading fees when purchasing xStocks with US dollars or Kraken's stablecoin USDG.
Kraken's xStocks platform is in competition with Robinhood, which launched similar services for European customers in June using different blockchain technology. The tokenized asset market is projected to grow significantly, with Boston Consulting Group and Ripple estimating it could reach $18.9 trillion by 2033, up from approximately $600 billion in 2025.
As part of its European expansion, Kraken acquired Breakout, a proprietary trading platform, and NinjaTrader for $1.5 billion in March 2025. The company's xStocks are available in over 140 countries outside the United States, positioning Kraken as a leader in the emerging tokenized asset sector.
Kraken's multi-chain strategy allows users to choose their preferred blockchain and use tokenized stocks as collateral in various decentralized finance protocols. The most popular tokenized stocks on xStocks include Tesla (TSLAx), Nvidia (NVDAx), MicroStrategy (MSTRx), and Circle (CRCLx).
Europe's Markets in Crypto-Assets (MiCA) regulation, which took full effect in December 2024, provides a clear legal framework for tokenization projects across the European Union. This regulatory environment likely contributes to the growing popularity of tokenized stocks among European investors.
With its expansion into Europe and the continued growth of the tokenized asset market, Kraken's xStocks platform is poised to play a significant role in the future of digital finance.
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