xStocks Surpasses $10 Billion in Total Transaction Volume, With Nearly $2 Billion Onchain

The gold standard for tokenized equities crosses a major milestone less than six months after launch, underscoring explosive global demand for open, permissionless, and interoperable tokenized assets.

ST. HELIER, Jersey--(BUSINESS WIRE)--xStocks, the industry’s gold standard for tokenized U.S. equities developed by Kraken and Backed, has surpassed $10 billion in combined centralized and decentralized exchange transaction volume, including nearly $2 billion in onchain activity.

Achieved in just 135 days since public launch, the milestone reflects surging global appetite for open, permissionless, interoperable financial assets that connect traditional capital markets to the open internet economy. With xStocks, people in eligible regions can gain exposure to U.S. stocks and ETFs, hold assets on platforms like Kraken or self-custodial wallets, and unlock a wide range of DeFi opportunities using their holdings as collateral.

Initially launched on Solana and made available to Kraken clients in more than 160 countries and Bybit users, xStocks have since expanded to Ethereum, with upcoming integrations extending access and liquidity across blockchains and platforms.

Beyond Kraken, xStocks are powering a rapidly growing ecosystem of global partners — including Alchemy Pay, Bybit, Gate.io, Phantom Wallet, Trust Wallet, Wallet in Telegram, and others. Together, these integrations form a thriving multi-platform alliance that connects traditional equities to the open internet economy, allowing users to buy, trade, and transfer tokenized stocks seamlessly across networks, wallets, and exchanges.

“xStocks have bridged the worlds of crypto and traditional investing, turning the promise of tokenized equities into a global reality,” said Mark Greenberg, Kraken’s Global Head of Consumer. “Crossing this milestone so quickly proves that people around the world want financial assets that live natively on the internet — permissionless, open, and accessible to anyone. xStocks are redefining how real-world assets can move, trade, and thrive onchain.”

Each xStock is fully backed 1:1 by its underlying equity or ETF, held by a licensed custodian in a bankruptcy-remote structure. Tokens are issued by Backed, in partnership with Kraken, which provides distribution, capital, and liquidity — combining regulatory rigor with crypto-native interoperability.

To date, more than 45,000 unique onchain holders have joined the xStocks ecosystem, with over $135 million in aggregated AUM. The momentum marks a major step forward for real-world assets (RWA) onchain, as investors seek borderless, transparent access to traditional markets through self-custodial systems.

xStocks’ multi-chain, multi-platform model underpins its mission to make global investing seamless, permissionless, and built for the internet age.

To learn more about xStocks and the growing xStocks Alliance, visit xstocks.fi.

xStocks have not been registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws. xStocks are not available in the United States or to U.S. persons and may not be offered, sold or delivered, directly or indirectly, in the United States or to U.S. persons. This communication does not constitute an offer to sell or solicitation of an offer to buy xStocks in any jurisdiction in which the offering or sale is not permitted.

About Kraken:

Founded in 2011, Kraken is one of the world’s longest-standing and most secure crypto platforms globally. Kraken clients trade more than 450 digital assets, traditional assets such as U.S. futures and U.S.-listed stocks and ETFs, and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD. Trusted by more than 15 million institutions, professional traders and consumers, Kraken is one of the fastest, most liquid and performant trading platforms available.

Kraken’s suite of products and services includes the Kraken App, Kraken Pro, the Krak App, Kraken Institutional, Kraken’s on-chain offerings and the Ninja Trader retail trading platform. Across these offerings, clients can buy, sell, stake, earn rewards, send and receive assets, custody holdings, and access advanced trading, derivatives, and portfolio management tools.

Kraken has set the industry standard for transparency and client trust, and it was the first crypto platform to conduct Proof of Reserves. It complies with regulations and laws applicable to its business, while actively protecting client privacy and maintaining the highest security standards.

For more information about Kraken, please visit www.kraken.com.