Kraken established Abu Dhabi headquarters in the MENA region, as xStocks surpassed $25 billion in total transaction volume across centralised and decentralised venues. The milestone, achieved in under eight months, includes more than $3.5 billion in on-chain activity and over 80,000 unique on-chain holders.
Tokenised equities have moved beyond experimental infrastructure, with activity now spanning exchanges, DeFi protocols, self-custody wallets and consumer applications. Eight of the 11 most-held tokenised equities by unique holders are issued through Kraken’s framework, accounting for 68 percent of the top 25. The firm says this underscores accelerating demand for fully collateralised, transparently structured products that connect traditional U.S. capital markets with blockchain infrastructure.
Executives said growing integrations across exchanges and platforms are strengthening liquidity and market depth, with assets running across Solana, Ethereum and TON. Additional blockchain integrations are planned. The assets are backed one-to-one by underlying stocks or ETFs held by a licensed custodian in a bankruptcy-remote structure, and aggregate assets under management now exceed $225 million. A rapidly expanding ecosystem of partners and developers is supporting the formation of what Kraken calls open, interoperable capital-markets infrastructure.
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