Apple, Tesla, Nvidia Will Reportedly Trade As Tokenized Stocks On Kraken’s New ‘xStocks’

Kraken’s new platform will also list popular U.S. exchange-traded funds like the SPDR S&P 500 ETF and SPDR Gold Shares.
Kraken logo is screened at Times Suqarein Manhattan, New York, United States of America, on July 6th, 2024. (Photo by Beata Zawrzel/NurPhoto via Getty Images)
Kraken logo is screened at Times Suqarein Manhattan, New York, United States of America, on July 6th, 2024. (Photo by Beata Zawrzel/NurPhoto via Getty Images)
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Prabhjote Gill·Stocktwits
Updated Jul 02, 2025 | 8:31 PM GMT-04
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Cryptocurrency exchange Kraken is reportedly preparing to launch tokenized versions of popular U.S. equities and ETFs for non-U.S. users under a new product called ‘xStocks’.

According to a Wall Street Journal report, the offering will include stocks such as Apple (AAPL), Tesla (TSLA), and Nvidia (NVDA), along with more than 50 names, including the SPDR S&P 500 ETF (SPY) and SPDR Gold Shares (GLD). 

Some of these stocks have soared in value over the past year. Nvidia’s stock, for instance, is up 40% over the past 12 months, while Tesla’s stock has gained over 78% during the same period. 

The digital assets will be deployed on the Solana (SOL) blockchain and made available across Europe, Latin America, Africa, and Asia. U.S.-based customers will not have access to the platform.

Tokenized stocks mirror the underlying equity price and trade on blockchain networks, allowing for 24/7 market access regardless of traditional stock exchange hours. 

According to the report, Kraken said its xStocks aims to lower barriers for international investors seeking exposure to U.S. markets, offering a potentially faster and cheaper alternative to traditional brokerage accounts.

The report added that the rollout would begin in the coming weeks. xStocks holders will be able to transfer their tokenized equities into digital wallets or potentially use them as collateral for crypto-based strategies. Trades could eventually extend beyond Kraken’s platform to other crypto exchanges.

The initiative echoes a short-lived effort by Binance in 2021, when the company launched tokenized Tesla shares before shutting the program down under global regulatory pressure. 

Before its collapse, FTX was known for allowing tokenized U.S. stocks to trade, offering a wide selection and 24/7 trading. 

Kraken may face similar hurdles. A company spokeswoman told the Wall Street Journal that Kraken is “actively working with various regulators” to ensure compliance across jurisdictions.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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