A major integration between Trust Wallet, Kraken, and Backed is bringing 60 tokenized U.S. equities to over 200 million users worldwide through xStocks.
Key Takeaways
- Trust Wallet users can now access 60 tokenized equities via xStocks, thanks to a new partnership with Kraken and Backed.
- The assets are fully collateralized and available across multiple blockchains including Ethereum, Solana, BNB Chain, and Tron.
- xStocks have already generated over $4 billion in trading volume since launching in June.
- The service is not available to U.S., U.K., Canadian, or Australian users due to regulatory restrictions.
What Happened?
Trust Wallet has officially joined the xStocks Alliance, integrating the tokenized equities platform directly into its app. The collaboration, led by Kraken and Backed, now offers seamless access to 60 tokenized U.S. equities for more than 200 million Trust Wallet users around the globe. The move is designed to accelerate the adoption of real-world assets in the crypto ecosystem.
xStocks <> Trust Wallet
— xStocks (@xStocksFi) September 19, 2025
The xStocks Alliance welcomes @TrustWallet, taking a massive step for global reach and adoption through one of the world’s largest wallets, available across blockchains and across borders.
This is what investing should always look like. pic.twitter.com/PvQrSkUoeP
Seamless Tokenized Stock Trading from Your Wallet
This partnership brings xStocks’ fully collateralized tokenized equities to a broader audience. Users can purchase these equities using local fiat currencies, hold them within Trust Wallet, and move them across chains and exchanges, including Kraken.
- Assets are backed 1:1, issued by Backed Assets (JE) Limited.
- Users can deposit and withdraw tokenized stocks across multiple chains: Ethereum, Solana, Tron, and BNB Chain.
- The integration enables both retail users and developers to easily plug tokenized equities into decentralized finance and Web3 applications.
Kraken co-CEO Arjun Sethi called the move “a paradigm shift,” stating: “We’re accelerating the transformation of global markets into an open, borderless, 24/7 system that works with the same freedom and accessibility as the internet itself.”
Making Tokenized Equities Mainstream
Trust Wallet CEO Eowyn Chen emphasized the importance of accessibility, saying:
Backed co-founder Adam Levi added, “Having over 200 million users being able to access tokenized equities through Trust Wallet reaffirms its role as a public good.”
Since launching in late June, xStocks have seen explosive growth with over $4 billion in trading volume across centralized and decentralized exchanges. Kraken and Backed have also recently expanded support to EU-based clients, while adding more blockchains to broaden accessibility.
Regulatory Reality Check
Despite the wide user base of Trust Wallet, xStocks are not available in the U.S., U.K., Canada, or Australia, and other geo-restrictions apply. Kraken clarified that xStocks are subject to securities regulations, requiring Know Your Customer (KYC) procedures and investor protections that differ from typical crypto assets.
Experts like Ross Shem from tokenization firm Stobox caution that while tokenized equities use blockchain technology, they do not share the regulatory freedom or culture of cryptocurrencies. “They require KYC and investor protections. The only thing they share with crypto is the underlying technology,” he said.
What’s Next for xStocks?
xStocks is continuing its multi-platform, blockchain-agnostic expansion strategy. The team aims to work with more partners to bring tokenized equities to additional ecosystems and user bases, continuing its mission to create a truly open and permissionless financial future.
CoinLaw’s Takeaway
In my experience, it’s rare to see this kind of scale and ambition play out so quickly. This isn’t just another token launch. What’s happening here is a genuine bridge between traditional finance and the world of DeFi. By plugging tokenized stocks into Trust Wallet, xStocks has made it simple for everyday crypto users to dip into U.S. equity exposure without leaving their wallets or opening brokerage accounts. But as always, regulation looms large. Even though the potential is massive, users need to tread carefully and understand what applies in their region. Still, I found this integration to be a serious leap forward for real-world asset adoption in Web3.
