- Kraken launches xStocks in Europe after initial rollout in June
- Platform offers tokenized US equity trading with 24/5 access
- Users can self-custody and transfer assets across supported wallets
Kraken expanded its tokenized securities push in Europe with the launch of Backed’s xStocks for eligible investors. The rollout adds 24/5 access to certificates that track popular United States equities, plus self-custody and easy movement across compatible platforms. It follows a May preview of the Backed integration on Solana and a June release aimed at more than 140 countries. The first wave excluded the United States, the United Kingdom, Canada, Australia, and the European Union. Today’s step brings the EU into scope and aligns with the exchange’s growth plan in the region. The goal is simpler US market exposure without traditional brokers, slower windows, or venue lock-in.
Kraken expands tokenized securities in the EU
Kraken confirmed the European rollout after previewing a Backed integration on Solana in May and starting an initial release in June that aimed at more than 140 countries. The first phase “essentially covered all countries” except the United States, the United Kingdom, Canada, Australia, and European Union jurisdictions, so the latest step opens the door to EU clients for the first time. The exchange frames the move as a natural extension of its strategy in the region, pointing to demand for longer trading windows and simpler access to US market exposure. The company stresses direct access to tokenized certificates that mirror selected US shares, extended hours five days a week, and the option to move positions off the platform when users prefer their own wallets. That combination targets crypto-native investors who already manage assets on-chain and want equity exposure without relying on traditional brokers or slow settlement rails.
How Kraken’s xStocks works and who can use it
Kraken’s xStocks issues tokenized certificates that track underlying US equities while running on Solana for speed and low fees, which supports quick transfers between venues that use the same standards. Eligible European users can buy and sell during 24/5 sessions, react to earnings or macro releases outside local hours, and hold positions in self-custody or within exchange accounts.
The firm highlights mobility as a core benefit, since assets can move between supported wallets, exchanges, and even chains when bridges or native minting exist. That design reduces venue lock-in and cuts counterparty concentration, while keeping records transparent on-chain. The roadmap shows a clear sequence: a May tease of tokenized stocks with Backed on Solana, a June rollout that reached over 140 markets but excluded the US, the UK, Canada, Australia, and the EU, and now an EU expansion that aligns with the exchange’s growth plan. The company positions this approach as a response to long-standing frictions that made it hard for European investors to gain timely US exposure.
Kraken amid rivals and Nasdaq’s filing
Kraken enters a European field that already includes Gemini and Robinhood with similar tokenized stock products, yet its pitch centers on permissionless transfers and self-custody rather than a single walled platform. Rival offerings give brand familiarity and retail reach, but the exchange argues that open movement of assets will matter as liquidity fragments across venues. The competitive picture widened further when Nasdaq, the world’s second-largest stock exchange by market capitalization, filed with the US securities regulator to list tokenized securities. Nasdaq’s position favors established market players over “siloed trading venues” and warns that US tokenized stocks could gain traction in Europe before the United States. For Kraken, traditional exchanges exploring listings validate the market, even as models diverge on custody, access rules, and how assets travel. The result is a split path: KYC-only venues with tight perimeters, and open systems that stress interoperability and free movement akin to how crypto assets already behave.
EU rollout implications and next steps for Kraken
European access should lift activity in off-hours, since 24/5 trading lets users respond to events without waiting for local sessions, while self-custody appeals to those already holding coins and tokens on-chain. Kraken now competes on spreads, asset coverage, and speed of additions as more equities join the roster, with Solana’s throughput helping transfers and settlement. The exchange also needs clear disclosures on how certificates map to the underlying shares, consistent secondary-market rules across member states, and robust reporting to match regional regulations. If issuers like Backed expand native minting or high-quality bridging, capital can circulate with fewer bottlenecks, which helps market makers and processors keep tight quotes. The broader takeaway is simple: tokenized securities are moving from pilots to production in Europe, and platforms will win by combining transparent issuance, practical custody choices, and reliable rails that keep assets fluid across wallets, venues, and chains.
Conclusion
Kraken’s EU launch caps a path from the May teaser to the June rollout across 140+ markets, adding 24/5 trading, self-custody, and portable tokenized certificates that mirror US equities on Solana. Competition from Gemini, Robinhood, and Nasdaq’s filing shows the segment moving into mainstream rails with different access models. If issuers and regulators align on clear rules and fast settlement, users gain real flexibility across wallets and venues. In that context, the EU step looks like core market infrastructure rather than an add-on.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.
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