Quick Breakdown:
- Kraken has expanded its tokenized equities, xStocks, to Ethereum as ERC-20 tokens, adding 60+ assets to DeFi.
- This move follows launches on Solana, BNB Chain, and TRON.
- With $3.5 billion in trading volume and over 25,000 holders, xStocks offer fractional ownership and 24/7 trading, bridging traditional stocks with blockchain technology.
Kraken has announced the launch of its tokenized equity product, xStocks, on the Ethereum mainnet, marking a significant milestone in its multi-chain expansion strategy. Now issued as ERC-20 tokens, the rollout adds over 60 widely recognized stocks to the Ethereum decentralized finance (DeFi) ecosystem, including major companies like Apple (AAPLx), Tesla (TSLAx), Nvidia (NVDAx), and the SPYx ETF.
Hello, Ethereum.
xStocks are coming to Ethereum Mainnet, one of the world’s largest and most reputable blockchains with over $500b in assets secured, millions of users and thousands of apps.
The standard for tokenized equities, going everywhere. pic.twitter.com/ScEiBaHG1h
— xStocks (@xStocksFi) September 2, 2025
xStocks integration with Ethereum
Developed in partnership with Swiss firm Backed, each xStock is backed one-to-one by the underlying physical security, ensuring tangible value retention. The move to Ethereum opens access to one of the largest blockchain ecosystems, which currently secures over $500 billion in assets and features a rapidly expanding DeFi market valued at approximately $107 billion.
Eligible non-U.S. clients will soon be able to deposit and withdraw these xStocks directly to external Ethereum wallets. This enables seamless transfers between Kraken and self-custody wallets, enhancing user control and security. Once on-chain, xStocks can be utilized in various DeFi protocols for lending, yield farming, and other financial activities, effectively transforming tokenized equities into versatile and composable financial instruments.
Since debuting in June on Solana, BNB Chain, and TRON, xStocks have achieved over $3.5 billion in cumulative trading volume across centralized and decentralized platforms, attracting more than 25,000 unique holders. The Solana launch alone generated $400 million in sales in its first month.
While xStocks do not confer shareholder rights or voting privileges, they provide investors with price exposure, fractional ownership, and continuous market access through blockchain-based trading. Dividends from underlying stocks are automatically reinvested into new tokens, enhancing compound growth potential.
Kraken positions xStocks as a “neutral asset class” designed to bridge traditional equities with blockchain interoperability and programmability. This Ethereum expansion underscores Kraken’s commitment to a multi-chain approach aimed at fueling the future growth of tokenized securities.
Meanwhile, Kraken and SEC are in discussion over tokenized trading framework, addressing future infrastructure, regulatory requirements, and investor protections as the market for tokenized assets grows.
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