Kraken has launched xStocks in Europe, offering tokenized representations of American stocks and ETFs as SPL tokens on the Solana blockchain. Each xStock is backed 1:1 by real shares held in custody by licensed custodians under Swiss regulatory supervision, with real-time prices updated via Chainlink data feeds. Kraken currently lists 60 tokenized assets, including 55 individual stocks such as Apple, Tesla, NVIDIA, Microsoft, Amazon, and Meta, and 5 ETFs like SPDR S&P 500 (SPYx).
The platform’s key advantages include 24/5 trading accessibility, 24/7 DeFi trading via Solana wallets, fractional investing from 1 euro, and no trading fees when buying in USD or USDG. Dividends are reinvested automatically, and xStocks can be used as collateral on lending protocols like Kamino to provide DeFi liquidity.
Availability is limited to residents of the European Economic Area after a suitability questionnaire; purchases are in fiat EUR or USD and are not available in the US, Canada, the UK, Australia, or Belgium. Tokens are issued by Backed Assets (JE) Limited and distributed via Payward Digital Solutions Ltd under a Bermuda license, aligning with MiFID II. To buy, eligible users must complete KYC and a suitability questionnaire, then execute purchases from Kraken Pro in EUR or USD, with tokens either staying on Kraken or being withdrawn to Solana or Ethereum wallets for self-custody.
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