Kraken has reported that since its launch last year, the total trading volume of its tokenized stock product xStocks has exceeded $25 billion, with about $3.5 billion generated from on-chain trading across Solana, Ethereum, and TON. On-chain holders of xStocks now number more than 80,000 addresses, with assets under management nearing $225 million. Kraken says each xStock is fully backed 1:1 by corresponding stocks or ETF assets held by licensed custodians, and the company is advancing the acquisition of Backed, the issuer of xStocks. These developments illustrate growing adoption of tokenized stock formats and Kraken’s strategic move as it advances the Backed acquisition.
Kraken’s xStocks Surpasses $25 Billion in Tokenized Stock Trading Volume
Kraken reports xStocks surpassing $25B in tokenized stock trading, with 80k on-chain holders and 1:1 asset backing as it advances the Backed acquisition.
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