Today, we’re extending the phased global rollout of xStocks to millions of clients across the European Union, expanding onchain exposure to many iconic U.S. stocks and ETFs. 

Powered by Backed’s xStocks innovation, we’re now enabling eligible EU-based investors to seamlessly trade a growing list of tokenized representations of popular U.S.-listed equities — all available directly through the Kraken app.

This expansion builds on our recent phased launch, which made over 60 tokenized equities available to clients across 140+ countries, marking a major milestone in our mission to democratize investing and unlock a truly global, open and accessible financial system.

“Expanding xStocks to the European Union was a natural next step for Kraken, given our dedicated growth strategy and market presence here. For too long, it’s been unnecessarily challenging to gain exposure to U.S. markets, and with xStocks we’re removing many of the barriers,” said Mark Greenberg, Kraken Global Head of Consumer.  

Why this matters for the EU

Historically, investors worldwide face frictions when seeking to gain exposure to U.S. markets — and Europe is no exception. While technically possible, it often comes with excessive fees, limited access, and unnecessary complexity.

European investors, in particular, frequently face:

  • Limited or partial exposure to U.S. markets 
  • Friction from currency conversion and cross-border transfers
  • Delays due to market hours and outdated settlement systems
  • Frictions and delays with withdrawing and transferring equities between platforms

These structural hurdles create a fragmented and inefficient experience for everyday investors.

With the expansion of xStocks to the EU, Kraken is removing many of those barriers — offering a faster, more flexible, and globally accessible way to gain exposure to U.S. markets. It’s investing, reimagined for the modern internet era: borderless, permissionless, and onchain.

xStocks empower EU-based clients to:

  • Trade tokenized certificates, tracking the price of popular U.S. equities without relying on traditional brokers or intermediaries
  • Control assets and move freely across compatible platforms or also to self-custody
  • Use xStocks within DeFi protocols as composable financial building blocks
  • Access extended trading hours — 24/5 availability on Kraken

This isn’t just about convenience — it’s a step toward financial sovereignty, giving more people the tools to participate in global markets on their own terms.

xStocks are built for the next frontier of finance

Our initial launch introduced xStocks to many of our clients as SPL tokens deployed on the Solana blockchain. We will soon also be expanding xStocks token support to include BEP-20 tokens on the BNB Chain – giving users the choice to interact with xStocks on two of the world’s fastest, most efficient blockchain ecosystems.

Together, these chains support high-speed, low-cost transactions and are deeply integrated with the broader Web3 ecosystem. Over time, we’ll continue expanding Kraken’s xStocks support to additional high-impact blockchains with thriving ecosystems — including Ink, with more to come.

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.

With xStocks, we are not only helping build the infrastructure for a truly global financial system — we’re focused on unlocking new investment frontiers for our clients all over the world. And we’re just getting started.

xStocks are provided in Europe by Payward Europe Digital Solutions (CY) Limited (“PEDSL”), regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no 342/17. PEDSL does not provide investment advice and is not affiliated with the issuer of the xStocks, which is Backed Assets (JE) Limited. Trading xStocks involves significant risks and is not appropriate for all investors. The value of your investment may go down or up. Read the Offering Documentation and Risk Disclosure for xStocks available on eu.kraken.com.