Kraken has officially launched its xStocks service in the European Union, unlocking access to tokenized US equities for investors across the region.
Key Takeaways
- Kraken has expanded xStocks to the European Union, giving EU investors access to tokenized US stocks like Amazon, Tesla, Nvidia and Google.
- The service has already generated over $3.84 billion in trading volume across centralized and decentralized platforms since June.
- xStocks allows 24/5 trading, supports self-custody, and is interoperable across multiple blockchains including Solana, Tron, and BNB Chain.
- Kraken is pushing toward a borderless, permissionless investment model, challenging traditional brokers and platforms.
What Happened?
Kraken announced the launch of its xStocks tokenized securities service for European users, following a global rollout that began in June. Developed in partnership with Swiss startup Backed, xStocks allows eligible investors in the EU to trade tokenized versions of popular US equities and ETFs directly from Kraken’s mobile app.
The service, which already saw a phased release in over 140 countries, has now officially landed in the European Union, removing many traditional barriers like currency conversion, settlement delays, and reliance on intermediaries.
Europe, your wait is over.
— Kraken (@krakenfx) September 10, 2025
xStocks are now live in the Kraken app for eligible clients in Europe!
Break the broker barrier 👇https://t.co/viHhrZp8Jv pic.twitter.com/sGV7MeI4nJ
Kraken Brings US Stock Exposure to EU Markets
Kraken’s xStocks service lets European investors buy tokenized certificates that mirror the price of over 50 US-listed stocks, such as Nvidia, Amazon, Tesla, and Google. Unlike traditional brokers, xStocks users can trade assets 24 hours a day, five days a week, move their holdings to self-custody wallets, or use them in DeFi protocols.
Kraken highlighted several advantages:
- No traditional broker required
- Eliminates currency conversion and platform fees
- Fast settlement not limited by US market hours
- Self-custody and onchain interoperability
Mark Greenberg, Kraken’s Global Head of Consumer, emphasized the ease it brings:
Multi-Chain Expansion and Technical Integrations
Kraken is actively expanding the infrastructure behind xStocks. In addition to Solana, xStocks now supports BEP-20 tokens on BNB Chain, and the company has recently partnered with Tron DAO to bring xStocks to the Tron blockchain. Kraken also hinted at upcoming support for other high-impact blockchains, including Ink.
The broad compatibility across chains reflects Kraken’s commitment to permissionless finance. As the company stated in its press release: “We believe xStocks aren’t just a technical evolution – they represent a fundamental shift in how capital markets will operate: borderless, decentralized, permissionless, and onchain.”
Competitive Landscape and Institutional Endorsements
Kraken’s move comes as other firms like Robinhood and Gemini also expand tokenized stock services in Europe. Meanwhile, Nasdaq has filed with US regulators to list tokenized securities, signaling growing interest from traditional finance.
Kraken’s Greenberg commented on Nasdaq’s approach: “There will be space for walled, KYC-only models like what Nasdaq is exploring, but the real technological breakthrough lies in permissionless, interoperable platforms like xStocks.”
Backed’s co-founder Yehonatan Goldman added that Nasdaq’s move validates the space: “This is a clear signal that the future of finance will be built on this technology.”
CoinLaw’s Takeaway
In my experience, what Kraken is doing here isn’t just a nice-to-have feature for crypto-savvy traders. It’s a fundamental shift in how average investors can access global markets. I’ve followed tokenized assets for years, and this kind of frictionless access to US stocks for EU users was a pipe dream until now. Kraken isn’t just matching traditional finance. They’re leapfrogging it. With self-custody, cross-chain support, and DeFi integration, this is where tokenization becomes real utility, not just hype.
