Regulation
|3 min ReadKraken expands xStocks to EU, bringing tokenized US equities
Maya Chen
Senior Analyst
Published
Jan 16, 2026
You asked for US equities without gatekeepers. Kraken just gave Europe the key. Trade longer. Move faster. Hold your own assets. Wait, and you chase those who do not.
Kraken has launched Backed’s tokenized securities offering, xStocks, for eligible investors in the European Union, the exchange told Cointelegraph on Wednesday. The product tracks popular US equities as tokenized certificates. Access runs 24/5. No traditional broker required. Assets can move across compatible platforms. Self-custody is on the table.
Europe gets 24/5 tokenized US equity access
This build started months ago. In May, Kraken teased an integration with Backed on Solana, targeting clients in more than 140 countries. In June, it rolled out xStocks broadly, covering almost all countries except the United States, the United Kingdom, Canada, Australia, and the European Union.
Now the EU is live. The pitch is simple. Trade extended hours. Skip the intermediaries. Store tokenized assets independently if you want. Or hold them in your own wallet. It is the stock market, rebuilt with crypto rails.
“Expanding xStocks to the European Union was a natural next step for Kraken, given our dedicated growth strategy and market presence here,” said Mark Greenberg, Kraken’s global head of consumer. “For too long, it’s been unnecessarily challenging to gain exposure to US markets, and with xStocks, we’re removing many of the barriers.”
Competitors and Nasdaq’s push
Europe is the proving ground. Gemini runs a similar product locally. Robinhood already operates one as well. On Monday, Nasdaq filed with the US securities regulator to move into tokenized securities. It argued that these products should list on established market players, not on siloed venues. It also flagged concerns about US tokenized stocks gaining traction in Europe.
Kraken’s Greenberg welcomed the interest but drew a line. The future of capital markets will not be one size fits all. “There will be space for walled, KYC-only models like what Nasdaq is exploring, but the real technological breakthrough lies in permissionless, interoperable platforms like xStocks,” he told Cointelegraph. “With xStocks, assets aren’t trapped inside a single exchange, wallet or even blockchain. They can move as freely as any crypto asset. That openness is the essence of Web3.”
Backed co-founder Yehonatan Goldman called Nasdaq’s move a milestone. He said it validates growing institutional interest in tokenized assets. He framed it as an endorsement of the approach and a clear signal of market potential, adding that the future of finance will be built on this technology.
Why this matters now
This is about speed, access, and control. Tokenized equities move like crypto. Portability lowers friction. Liquidity finds the path of least resistance. If you get in early, you learn the flows before the crowd. You do not wait for legacy hours. You trade when the edge appears.
Kraken has put Europe on the map for this market. The competition is active. Regulators are engaged. The rails are forming in real time. If you see where this goes, you position now. If you hesitate, you pay slippage to those who did not.
Disclaimer: This document is intended for informational and entertainment purposes only. The views expressed in this document are not, and should not be taken as, investment advice or recommendations. Recipients should do their own due diligence, taking into account their specific financial circumstances, investment objectives and risk tolerance, which are not considered here, before investing. This document is not an offer, or the solicitation of an offer, to buy or sell any of the assets mentioned.