Kraken has officially launched trading in more than 7,000 U.S.-listed stocks for eligible customers across the European Economic Area, marking a significant step in the convergence of traditional finance and crypto infrastructure.
The rollout, announced August 18, positions Kraken as the only crypto-native platform where European users can access traditional U.S. shares, over 700 tokenized xStocks, and 600+ cryptocurrencies within a single regulated account.
7,000+ US stocks are now available to EEA users in the Kraken app 🇪🇺
— Kraken (@krakenfx) August 18, 2026
Invest in stocks, tokenized equities, and crypto all in one platform.
Explore stocks ⤵️https://t.co/0BVtXJ2tf1 pic.twitter.com/ApYmHxNzOF
What’s Actually Happening
Eligible EEA customers can now trade U.S. equities directly through Kraken Pro (desktop and mobile) and the main Kraken app. The service is provided by Payward Europe Digital Solutions, Kraken’s Cyprus-based investment firm authorized under MiFID II.
Stock trading will be commission-free, though spreads, foreign exchange costs, and other fees may apply. Customers must accept additional terms before accessing the equities feature.
The key differentiator: users can choose between traditional shares or tokenized representations of the same assets without moving capital between platforms.
“With U.S.-listed stocks and xStocks available side-by-side in a single regulated account, customers can choose how they access the same underlying exposure,” said Mark Greenberg, Chief Commercial Officer of Kraken parent Payward.
xStocks: The Numbers
Kraken’s tokenized equity product has scaled rapidly since launching in June 2025:
- $38 billion+ in total transaction volume
- 700+ tokenized assets available
- $609 million market cap (second-largest tokenized stock issuer behind Ondo Finance’s $974 million)
- 125,000+ xStocks holders now have shareholder voting rights
Each xStock token is fully collateralized and backed 1:1 by its corresponding underlying security.
Competitive Landscape
The move intensifies competition in the European tokenized equities market. Crypto.com recently launched tokenized stock derivatives covering 1,500 U.S. stocks and ETFs, though those products provide synthetic price exposure without legal ownership of underlying securities.
Bitpanda offers traditional U.S. stock trading. Robinhood has tokenized equity products for European users. But none currently offer both traditional and tokenized equities in one integrated platform.
Tokenized equities now represent roughly 15% of the real-world asset (RWA) market, triple their share at the start of 2026. The segment has reached approximately $2.8 billion in total market cap, with Ondo Finance, Binance’s bStocks, and Kraken’s xStocks controlling 77% of the market.
Infrastructure Expansion
Kraken has been building out xStocks infrastructure throughout 2026:
- March 2026: Launched xChange, an execution layer supporting 70+ tokenized equities across Ethereum and Solana
- July 2026: Enabled xStocks as collateral for futures and margin positions on Kraken Pro
- July 2026: Partnered with GTN to expand beyond U.S. equities into Hong Kong, UK, European, and South Korean markets
- August 2026: Extended shareholder voting rights to xStocks holders
Payward’s Q2 Performance
Kraken parent Payward reported $508 million in adjusted revenue for Q2 2026, up 17% year-over-year. Adjusted EBITDA hit $23 million. Total platform transaction volume was $310 billion for the quarter, down 13% YoY, but trading activity has shifted increasingly toward equities and tokenized equities.
What It Means
This isn’t a pilot. Kraken has built regulated infrastructure, generated billions in volume, and is now expanding geographically. The combination of traditional brokerage services with crypto-native tokenization under one MiFID II-authorized entity represents exactly the kind of institutional-grade convergence the market has been waiting for.
Kraken says it plans to extend the integrated equities offering to additional markets in coming months.
*Disclaimer: News content provided by Genfinity is intended solely for informational purposes. While we strive to deliver accurate and up-to-date information, we do not offer financial or legal advice of any kind. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial or legal decisions. Genfinity disclaims any responsibility for actions taken based on the information presented in our articles. Our commitment is to share knowledge, foster discussion, and contribute to a better understanding of the topics covered in our articles. We advise our readers to exercise caution and diligence when seeking information or making decisions based on the content we provide.
