- The exchange becomes the first crypto-native platform to offer both traditional US equities and tokenized versions.
- Crypto.com and Robinhood offer tokenized stocks in Europe, while Bitpanda provides regular US stocks.
Kraken announced Tuesday that European customers can now trade more than 7,000 U.S.-listed stocks directly on its platform, marking the first time a crypto-native exchange offers both traditional equities and tokenized versions of the same assets within one regulated environment.
According to the exchange, the expansion gives eligible customers across the European Economic Area access to over 7,000 US stocks alongside 700+ xStocks, Kraken’s tokenized equity products. Investors hold traditional shares and tokenized versions side-by-side in a single regulated account without transferring capital between platforms or providers.
Mark Greenberg, the Chief Commercial Officer of Payward, Kraken’s parent company, described the move as removing unnecessary barriers.
This launch eliminates the artificial divide between traditional and tokenized formats of the same asset. With US-listed stocks and xStocks available side-by-side in a single regulated account, customers can choose how they access the same underlying exposure (whether through traditional shares or tokenized representation) without moving capital or changing platforms.
– Mark Greenberg
The service operates under Kraken’s European entity, Payward Europe Digital Solutions (CY) Limited, an authorized MiFID investment firm. Eligible EEA customers trade US-listed stocks commission-free within this regulated framework alongside more than 600 crypto assets.
Dual Access in One Account
Kraken’s move places it in direct competition with traditional brokerage firms such as Interactive Brokers and eToro. It also challenges crypto platforms that offer only tokenized shares or only traditional stocks.
Crypto.com and Robinhood provide tokenized stocks in Europe, while Bitpanda offers regular US stocks without tokenized versions. Coinbase secured U.K. regulatory approval to offer equities and derivatives alongside crypto, with US users already accessing stock and ETF trading.
The expansion reflects broader industry convergence as crypto exchanges evolve into comprehensive financial platforms.
Kraken’s xStocks combine stock familiarity with blockchain infrastructure advantages. Traditional shares trade only during market hours through brokerage systems, while tokenized equities transfer to self-custody wallets, integrate into onchain applications, and trade when public markets close. Each xStock maintains full 1:1 backing by underlying shares.
The tokenized equity product surpassed $38 billion in total transaction volume since launch, establishing itself as a benchmark for tokenized equities amid growing global demand for flexible capital market access.
Trading reportedly operates on Kraken Pro desktop and mobile platforms plus the standard Kraken mobile app. Kraken plans to expand this integrated stocks offering into additional markets in the coming months.