Kraken brings tokenized US stocks to Europe

The Kraken crypto exchange is now expanding its xStocks offering to the European Union. Millions of customers can now trade tokenized replicas of around 60 popular US stocks and ETFs directly via the Kraken app, according to a press release shared with BTC-ECHO.
Until now, access to US markets for European retail investors has been complicated and expensive, characterized by high fees, currency conversions, and time delays. With xStocks, Kraken aims to eliminate these barriers.
They allow users to control their assets on-chain, move them between platforms, or hold them themselves. Furthermore, the tokens can be used in DeFi protocols. Unlike traditional brokers, they offer extended trading hours, 24/7.
The first xStocks were issued as SPL tokens on Solana. BEP-20 tokens on the BNB Chain will follow soon. Expansion to other blockchains is planned for the future.

For Kraken, EU expansion is a logical step to strengthen its market position while advancing its mission of a borderless, open financial system.
In March 2024, Bloomberg reported that Kraken was aiming for an IPO in the first quarter of 2026, aided by a more crypto-friendly regulatory environment under the Trump administration. You can find more information about Kraken in the BTC-ECHO brand hub.

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