Cryptocurrency Exchange Kraken expanded its XStocks offering to millions of clients across the European Union, allowing regional investors to access their stocks in the US.
This expansion allows eligible European investors to trade tokenized versions of the popular US Stock and Exchange Trade Fund (ETF) through the Kraken app.
“Giving the dedicated growth strategy and the presence of a market here, expanding XStocks to the European Union was a natural next step for Kraken. For too long, gaining exposure to the US market has been unnecessarily difficult.
Tokenized stocks, also known as XStocks, were developed in collaboration with Swiss Fintech companies backed by Swiss Fintech companies, and are blockchain-based representations of real-world stocks or ETFs.
These tokens reflect the value of the underlying inventory and can be traded or held like any other cryptocurrency in your wallet. These devices address the longstanding challenges faced by global investors seeking to access the traditionally challenging and challenging US stock market.
XStocks allows EU-based investors to trade tokenized certificates that track the prices of popular US stocks, eliminating the need for traditional brokerages or intermediaries. Investors have full control over their assets, allowing for compatible platforms and self-supporting seamless movement.
Additionally, XStocks can be integrated into a Decentralized Finance (DEFI) protocol, which serves as a configurable financial building block that enhances user flexibility and participation in modern digital markets.
Kraken's deployment of 24/5 XStocks transactions in the EU is consistent with growing interest in blockchain-based financial infrastructure, reflecting broader industry trends towards decentralization, transparency and democratization of global financial markets.
According to the Boston Consulting Group (BCG) and McKinsey & Company, the global tokenized asset market is expected to be worth trillions of dollars by the 2030s.
The tokenized inventory will act as an SPL token for the Solana blockchain, known for its high-speed and low-cost transactions, and plans are underway to expand support for the BEP-20 blockchain and Ethereum mainnet. This multi-chain approach aims to deeply integrate Xstocks into the booming Defi ecosystem.
